International Game Technology (IGT) has signed an agreement with Central Washington’s 12 Tribes Colville Casinos that will provide its casinos with sports betting. There is no official launch date or time frame available for when players will have access to sports betting in the casino.
In March 2020, Governor Jay Inslee signed a bill into law that legalized sports betting on all of Washington state’s 29 federally recognized Native American tribes.
12 Tribes Colville Casinos is run by Colville Gaming. The casino chain also operates the 12 Tribes Lake Chelan Casino in Manson, the 12 Tribes Omak Casino Hotel in Omak, and the 12 Tribes Coulee Dam Casino in Coulee Dam.
12 Tribes Colville Casinos COO Tony Posey said in an official statement: “Thanks to IGT we feel confident in our ability to provide our guests with an exciting and secure sports betting environment, and we look forward to opening our doors to sports enthusiasts soon.”
IGT is a global software making and gaming specialist. The company reported the highest full-year operating income in its history during 2021, topping out at $902m. It also generated $770m in free cash flow and more than $1bn in cash from its operations during the year.
Net income was in the black for 2021, reaching $670m compared to a net loss of $839m the year before.
Adjusted EBITDA rose by 67%, reaching closet to $1.7bn. The adjusted EBITDA margin for 2021 was among the highest in the company’s history, reaching 41%.
IGT achieved another company first a year ahead of schedule by lowering its net debt by $1.4bn, bringing its debt to the lowest level it has ever had.
