Why Did IGT Plunge 12.64% After Cyberattack?

On April 3, 2025, International Game Technology (IGT) experienced a significant drop of 12.64% in pre-market trading, marking a notable decline in its stock performance.

IGT, a multinational gambling company, recently faced a cyberattack that disrupted portions of its IT systems. The incident, detected on November 17, 2024, prompted the company to take certain services offline as part of its incident response procedures. The attack has led to disruptions in internal information technology systems and applications, with the company actively working to assess and remediate the unauthorized activity. IGT has not yet determined the full impact of the cyberattack but is implementing business continuity plans to mitigate disruptions and communicating with stakeholders to address the situation.

The response to the incident suggests that IGT may have been the victim of a ransomware attack, although the company has not shared specific details about the nature of the attack. The cybersecurity incident has raised concerns about the potential long-term effects on IGT's operations and its ability to maintain business continuity in the face of such threats.