On Wednesday the gaming manufacture laid off another 13 employees worldwide including some from its headquarters in Reno in the beginnings stages of a previously announced reduction of up to 10% of their workforce.

“As IGT continues to respond to the needs of the industry, the natural course of business is to seek talent that addresses our company objectives,” IGT spokeswoman Shelle Murach said. “As such, the elimination of some specific roles in our company is a response to the evolving requirements of our business.”

IGT Spokesman Ed Rogich said that the employees affected by this round of cutbacks will remain on the company’s payroll through the holidays and severance packages will begin on January 4.

“We’re trying to do this as humanely as possible so people will be paid through the holidays,” Rogich said.

Approximately 500 jobs will be eliminated under the plan that is expected to reduce cost by $100 million annually.

The two manufactures have entered into an RFID License and Transfer agreement that will allow GPI to develop, manufacture, and distribute additional high-frequency RFID products and systems worldwide.

Under the terms of the agreement GPI will combine its low-frequency chip detection systems with IGT’s high-frequency systems to “bring about the most advanced and widely implemented chip tracking technology available in the marketplace today”.

RFID chip tracking systems allow casinos to inventory chips and “securely and efficiently transfer gaming chips” throughout the casino.

“This transaction will allow our mutual customers to enjoy the technological and creative benefits that will undoubtedly arise from uniting disparate pools of RFID technology under a pit-focused organization like GPI,” states Javier Saenz, IGT’s VP of Network Systems. “IGT is committed to serving its customers not only directly with its own market-leading products but also through third-party relationships with companies like GPI.”

IGT’s library of games are now accessible at the Casino de la Vallee in Italy, accounting for the fourth installation in Europe and the fifteenth worldwide.

In addition to the sbX program, IGT has also installed 100 AVP slot machines to Casino de la Vallee’s expanding gaming floor on which 80% of the offerings have been provided by IGT.

“sbX™ gives us access to a vast library of good performing games. That in itself is a huge advantage for our operation,” said Luca Frigerio, sole administrator of Casino de la Vallee. “We chose sbX™ because we are committed to offering our players the highest standard of service using the industry’s leading technology.”

“The growing number of sbX™ installations around the world, continues to prove the excellent response that the product has experienced since its launch in December 2009,” said Ali Civile, sales director for IGT Europe. “No other product provides the resources and tools to operators in the industry. Access to the industry’s largest and ever-expanding library of server-based games, modules that empower management teams to understand preferences and trends, and the ability to create a dynamic slot floor by deploying proven games over the open network are just some of the advantages of sbX™.”

The Board declared that $0.06 per share would be paid to shareholders on record as of September 7, 2010 on October 8, 2010.

During the fiscal third quarter ending June 30, 2010 IGT reported that a tax gain of $36.7 million resulting from a completed IRS audit, helped boost its net income to $92.1 million with revenue of $489.7 million.

Excluding the tax gain and other one-time items, IGT reported earnings of $0.21 per share, matching analysts’ expectations.

Since the earnings report on July 27 shares of IGT have dropped $1.85 from $16.70 to yesterday’s closing price of $14.85.

Attendees on August 23 and 24 will get hands on experience of more than a dozen of IGT’s popular games and system enhancements.

On display will be MegaJackpot slot games like American Idol, Star Wars Droid Hunt, Alice’s Adventures in Wonderland and Super Nova Blast; Siberian Storm, The Little Shop of Horrors, Cougarlicious and Double Diamond Reel MultiPLAY.

Also being featured will be IGT’s video poker games including Five Star Poker, Texas Hold ‘Em Heads Up Poker and Double Super Times Pay Poker.

Roulette Evolution and Triple Towers Greyhound Racing games in the M-P Series will also be displayed, allowing casinos to increase the number of players wagering on a single game.

“IGT prides itself on being an industry leader and developing the games that players enjoy playing,” said Eric Tom, chief operating officer for IGT. “OIGA attendees will see this first hand when they learn more about the many exciting new games and Network Systems products available from IGT.”

In 2008, the inventors filed a lawsuit against International Game Technology, Bally Technologies and other rival casino gaming developers claiming that their games violated pending patients of the duo’s “Gaming device bonusing system” application.

In response to the lawsuit, IGT countered with a lawsuit that would prevent Brandstetter and Devlin from patent protecting the Slot-Sweepstakes game application that they began developing in 1998.

Although IGT has dropped its opposition, the original case is still pending appeal in the Nevada Supreme Court. The appeals court will determine if gaming developers will have to stand trial for Brandstetter and Devlin’s claims; although a 2009 ruling in the Nevada District Court threw out the case and awarded two of the five defendants monetary reimbursement for attorney’s fees, the two have appealed what could be a landmark case against many industry leaders.

Barcrest Group will provide gaming content on over 20,000 machines produced by The Global Draw.

Under the terms of the deal, Barcrest Group will install content on 7,600 Global Draw gaming machines in more than 2,100 Ladbrokes betting shops and across all of Global Draw’s 20,000 licensed sports betting office terminals throughout the United Kingdom.

“We are very excited about this partnership. The quality of content is recognized as being the key driver within the LBO market and Barcrest Group has a very strong track record of providing top quality games. The Global Draw delivers exceptional terminals and operations, so by aligning the complementary strengths of our respective businesses we will provide a first class gaming solution across the market as a whole.” commented Robert White, vice president and managing director of IGT-UK Group.

Gamblers throughout the U.S. casino market voted IGT for more awards than any other manufacturer.

“IGT is thrilled that players continue to choose our games as their very favorite casino games year after year,” said Eric Tom, IGT chief operating officer. “These awards are true testaments to IGT’s continued success in creating games that players love to play.”

IGT rounded out the top five spots in the “Favorite Reel Slot” category for the Double Diamond, Wheel of Fortune, Red, White & Blue, and Triple Diamond games.

Wheel of Fortune, Megabucks and the Wheel of Fortune Experience were honored in the “Favorite Progressive Slot” category and the “Favorite Bonus Round” awards went to Wheel of Fortune and Cleopatra, while both the Wheel of Fortune and Keno games were voted as the “Favorite Video Slot”.

IGT also took home the honors in the “Favorite Video Poker Game” category for Jacks or Better, Deuces Wild, Double Double Bonus Poker, Bonus Poker and Double Bonus Poker in the top five spots.

Analysts at J.P. Morgan said in a research note to clients yesterday that although the game developer beat quarterly expectations earlier this week, their concern over industry wide replacements in the U.S. market and low share prices prevents them from lifting the rating.

J.P. Morgan also lowered its target stock price from $23.00 to $19.00, noting that IGT is likely to be stuck in this range until the replacement cycle picks up and expansion opportunities become more tangible.

Shares of IGT have been trading in the $14.65 to $15.19 range and have been dropping since releasing quarterly earnings on Tuesday July 27. Since the earnings report IGT has lost $2.00 since July 27th’s closing price of $16.70.

IGT’s fiscal third quarter ended June 30, 2010 with net income levels up 52% to $92.1 million. Excluding onetime items including a tax gain of $36.7 million relating to an IRS audit, IGT’s earnings of $0.21 a share matched analysts’ predictions. However revenue for the period fell short of predictions down 5.3% to $489.7 million.

“Our customers continue to spend capital at a conservative pace in an uncertain economy,” IGT Chief Executive Officer Patti Hart said. “Right now they all feel like they would be spending ahead of a cycle.”

The spending concerns prompted IGT to raise only the lowest expectations for the fiscal 2010 period. IGT is predicting full year earnings to fall between $0.82 and $0.85 up from the previous expectation of $0.77 to $0.85.

During after-hours trading, shares of IGT fell 3.6% to $16.10 from the closing price of $16.70.

In the prior quarter analysts estimated earnings of $0.21 a share on revenue of $513.57 million, which excluding one-time charges IGT fell just short of reporting $0.20 a share on revenue of $497.7 million.

However following expenses relating to the closure of operations in Japan and impairment charges on gaming equipment in Alabama casinos, adjusted income was reduced to $700 thousand and $0.00 per share.

For the second quarter analysts’ are predicting earnings of $0.21 a share on sales of $504 million.

In the period ending June 30, 2010 IGT entered into a number contracts and extensions to provide gaming and management software to casinos including Kickapoo Lucky Eagle Casino in Eagle Pass, Texas; Casino d’Evian in France; Tulalip Resort Casino in Tulalip, Washington; The Cosmopolitan of Las Vegas; The University of Iceland Lottery; the Grand Casino Helsinki in Finland and the Casino di Venezia in Italy.

IGT will release second quarter financials during the afternoon hours on Tuesday July 27.

“We are deeply saddened by Fred’s passing,” Patti Hart, IGT’s President and CEO said in a statement. “As IGT’s longest serving Board Member, he has been an integral part of IGT’s success, and his passion, dedication and enthusiasm will be missed throughout our organization.”

Meanwhile, the company announced that Vincent L. Sadusky has been elected to serve as director for IGT, effective immediately.

Sadusky is president and chief executive officer of LIN TV Corp and currently serves on the board of directors for LIN TV Corp., as well as Maximum Service Television, Inc., Open Mobile Video Coalition and JVB Financial.

“We are pleased to have Vince join our board and look forward to his contributions,” said Patti Hart, IGT President and CEO. “He brings a wealth of knowledge and experience in the media industry and adds a new and important dimension to our board. Additionally, his tenure as CEO of a public company will make him a valuable advisor to IGT’s management team.”

Sadusky fills one of the spots left vacant following the resignation of both Bob Bittman and Richard Burt.

The conference scheduled for July 20 and July 21will include a series of training, strategy sessions and hands on demonstrations of IGT’s Network System products including Bonusing and sbX.

“IGT’s Network Systems Users Conference offers customers more than just training,” said Eric Tom, chief operating officer for IGT. “Perhaps most importantly, attendees will experience how IGT Advantage, sbX™ and the Service Window all integrate seamlessly within a live casino environment. Also, the conference’s Interactive Area allows for live, hands on demonstrations of all Network Systems products, the chance to speak face-to-face with product experts and provides the perfect spot to visit with industry peers.”

Guest speakers will include Lyle Bell, Chairman, Gaming Standards Association, and Senior Vice President of Information Technology for Seminole Gaming; Mike Volkert, Vice President of Slot Marketing & Operations for ARIA Resort & Casino; and Fernando Facal, Marketing & Operations Director for Hipodromo Argentino de Palermo.

According to an IGT press release attendance levels for this year’s event has reached record attendance levels.

Shareholders of IGT have filed complaints against the Board of Directors claiming nine counts of breached fiduciary duties and that directors have become unjustly enriched during the period from November 2007 to the present, on grounds that “certain IGT senior officers made intentionally misleading public statements about the bright financial prospects of IGT, and that at least some of them benefited from selling their own stock in IGT at inflated prices”.

IGT responded to the lawsuit by filing a motion to dismiss on the grounds that “Plaintiffs failed to make a pre-suit demand on IGT’s board of directors and Plaintiffs have not alleged sufficient particularized facts to support application of the doctrine of demand futility”.

The Judge ruled in favor of dismissing the case against the casino game manufacturer, however further ordered that Plaintiffs can file an amended complaint within 21 days.

While IGT games and systems have been featured in the casino since its opening in 2007, they have recently been chosen to replace the casinos roulette units with Roulette Evolution which includes 28 player stations connected to an automated roulette wheel.

“When we chose to replace our old automated roulette units, we immediately trusted IGT and its Roulette Evolution game – and we are thrilled with this decision,” said Marcel Wenger, casino vice director at Grand Casino Basel.

The setup on the gaming floor includes, slant top multi-player units with 23 inch widescreen displays, automated roulette wheel, 53-inch, high definition central display; and digital cameras allowing each player to view and choose their favorite wheel.

“The results are great, the design is fantastic, and the machines have been accepted by our customers. Players enjoy choosing their denominations and bets at will,” said Eugenio di Palma, slot manager at Grand Casino Basel.

Rich Schneider, IGT’s senior vice president of network systems has resigned from his position with the casino game developer effective immediately to pursue another opportunity outside of the company.

Schneider has spend seven years with IGT since the purchase of Acres Gaming in 2003, where Schneider served as president and chief operating officer.

An executive search will also begin immediately to seek a replacement for the now vacant role.

Eric Tom, IGT chief operating officer commented on the departure by saying “Rich has accomplished a great deal over the past seven years since joining IGT. We thank Rich for his many contributions to the Company and to our customers.”

IGT has also announced that chief technology officer, Chris Satchell, will expand his role to include the position of executive vice president of Research and Development. In his expanded role, Satchell will help lead the development of ground breaking and innovative gaming products.

IGT announced today that they have completed installation at the Casino di Venezia in Italy. Casino di Venezia went live with 100 IGT AVP® machines offering up to six games on a single machine. By using the IGT AVP® platform together with sbX™, the property can now quickly and simply introduce new themes to their floor.

“After operating IGT Casinolink® for many years, the integration with sbX™ provides Casino di Venezia more comprehensive information and helps simplify their floor management decisions,” said Ali Civile, sales director for IGT Europe. “Casino di Venezia’s management expressed their excitement with the installation of sbX™ and were thrilled with the smooth transition and installation along with IGT’s professionalism throughout the process.”

The casino implemented a successful marketing campaign in advance of the sbX™ games launch which helped to bring in excited gamblers looking to take advantage of this new technology.

Heikki Rinta-Panttila, casino general manager for Grand Casino Helsinki applauded IGT by saying “We were pleased with IGT’s installation and go-live. The system provides us more flexibility on game configuration, and the large game library allows us to give our players a wide variety of theme choices. With access to the game library, we’re able to quickly optimize our floor to offer players even more of their favorite games.”

“sbX™ provides operators with a library of games of more than 100 international game releases and includes multi-denomination and multi-percentage capabilities. Because new game releases are continuously sent to the customer and several games can be downloaded simultaneously into one cabinet, operators can keep their floor fresh at all times,” said Ali Civile, sales director for IGT Europe. “The integration of the IGT Casinolink® management system, EZ Pay® ticketing and IGT’s sbX™ Floor Manager at Grand Casino Helsinki simplifies their operation, and allows the casino to maximize the benefits of each of these three successful management resources.”

As Finland’s only casino, the Grand Casino Helsinki operates 300 slot machines, of which more than 65% are manufactured by IGT.

The award was given to WagerWorks following a strong preceding year of successful game releases and new partnerships.

“The honor of having WagerWorks crowned ‘Slot Provider of the Year’ is a true reflection of the game expertise we have as part of IGT. Among a myriad of suppliers, WagerWorks is the only one with deep roots in the traditional land-based casino business of IGT, and with that credibility comes a wealth of knowledge and experience,” said Oliver Lofthouse, director and general manager at WagerWorks. “Our games are continuing to perform at the highest level with more and more clients seeing the benefit of partnering with the best content supplier in the market.”

The gaming developer will receive the award on Thursday, June 24th at Indian Springs Air Force Base in Indian Springs, Nevada.

The Above and Beyond Award program is designed to recognize employers who support a strong National Guard and Reserve force. Employers qualify for recognition when they practice leadership and personnel policies that support employee participation in the Guard and Reserve.

IGT Senior Vice President of Sales Operations Reed Alewel will accept the award on behalf of the Company. Alewel, a former Missouri National Guardsman, said he can relate to how important IGT’s support is to the troops.

“With my father in the Guard for more than 30 years, and my brother for more than 20, I’m proud to work for a Company that supports its members of the military, both inside and outside of IGT,” Alewel said. “This nomination speaks volumes of our support.”

“We’re thrilled to be presenting IGT with this prestigious Employer Above and Beyond Award,” said Nevada ESGR Committee Chairman Jim Ainsworth. “It’s because of companies like IGT that our troops get the support they need to be able to serve our country. This is proof that a company that does well, can certainly do good, too.”