IGT Confirms Cybersecurity Incident, Launches Investigation

Cyberattacks are not uncommon, especially in the global gambling industry. In 2023, two recognizable gambling operators became victims of cybersecurity breaches. That is the case for MGM Resorts and Caesars Entertainment. Now, another recognizable company within the vertical was affected by a cyberattack.

The Cyberattack Temporary Impacted Internal Systems and Applications

A filing with the US Securities and Exchange Commission (SEC) by International Game Technology (IGT) on Tuesday reveals that the company was recently affected by a cybersecurity issue. The Form 6-K filed with the Commission outlines that late last week, the company discovered that an unauthorized third party gained access to parts of its systems.

Becoming aware of the cybersecurity issue on November 17, 2024, IGT explained that some of its internal systems and applications experienced disruptions. The multinational gambling company confirmed that once it detected the cyberattack, it initiated an investigation and an appropriate response plan. Those actions IGT conducted in collaboration with external advisors.

“On November 17, 2024, International Game Technology became aware that an unauthorized third party gained access to certain of its systems, and the Company has experienced disruptions in portions of its internal information technology systems and applications resulting from this cybersecurity incident. Promptly after detecting the issue, the Company activated its cybersecurity incident response plan and launched an investigation with the support of its external advisors to assess and remediate the unauthorized activity,“

reads the Form 6-K filed by IGT with the SEC

The Impact of the Cyberattack Is Being Assessed

Ultimately, the aforementioned processes are expected to resolve the issue. Still, IGT admitted that it had taken some of its systems offline in order to ensure their protection. “The Company’s ongoing investigation and response include efforts to bring its systems back online,” reads the 6-K filing with the SEC.

IGT confirmed that it keeps close contact with its customers, as well as stakeholders. The company said that it rolled out alternatives to some of its services where possible. Additionally, IGT vowed to mitigate the impact of the cyberattack and continue offering its services to its customer base across the globe without disruptions.

So far, there’s no evidence suggesting that the hackers’ attack had a material impact on IGT. “The Company has not yet determined whether this incident is material,” the company wrote.

Despite IGT’s efforts, its shares took a dip on Tuesday. Upon market close on Wednesday, the company’s shares on NYSE traded at $18.75, marking a 9.90% decrease in the last five days.