As part of its ongoing focus on operating efficiencies, International Game Technology (IGT) announced its decision to close its Japan operations due to ongoing difficult market conditions and lack of strategic fit. The closure is targeted for completion by the early part of IGT's third quarter of fiscal 2010.

IGT currently estimates charges, including severance, of up to a total of US $20 million will be recorded in the second and third quarters of fiscal 2010. International Game Technology is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products.

Back in 2006, when there was much talk of Japan bringing in casino legislation, IGT sold 18,500 gaming units to Japan, helping the 80% increase in the company’s international sales. The following year an advisor for the Japanese government’s Casino Study Group, stated that a draft framework for legalising casinos would be presented to legislators in 2008. By 2009 IGT sales of pachisuro machines to Japan and AWP machines in Europe had decreased to just 5% of the company’s product sales and the prospect of casino licensing in Japan had not progressed. (E-02.11.10)

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