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The Company designs, manufactures and markets computerized gaming equipment, systems and services.
While 2008 may be slow due to the tough economy, casinos are just starting to enter a replacement phase for slot machines and IGT is the biggest player in this business -- and has a wide moat. On top of that, server based slots is a new concept on the horizon for casinos. I have seen it referred to as like the difference in colored TV vs. watching in black and white. If this is true, that large of a revolutionary concept in slots doesn't appear to be priced into IGT's pricing -- and it is one of the leaders in server based slots. What does this all mean? The stock is beat up and near its 52 week low due to tough economy. Stock should go up as replacement cycle kicks in, probably in 20098. If server based slots takes off as some are predicting, this stock will zoom up. In my mind, the upside is much greater than downside.
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