UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1994
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from to
Commission File Number
A. Full title of the plan and the address of the plan, if
different from that of the issuer named below:
INTERNATIONAL GAME TECHNOLOGY
PROFIT SHARING PLAN
B. Name of issuer of the securities held pursuant to the
plan and the address of its principal executive office:
INTERNATIONAL GAME TECHNOLOGY
5270 Neil Road, Reno, Nevada 89502
<PAGE>
INTERNATIONAL GAME TECHNOLOGY
PROFIT SHARING PLAN
Financial Statements for the Years Ended December 31, 1994 and 1993,
Supplemental Schedules for the Year Ended December 31, 1994, and
Independent Auditors' Report
<PAGE>
INTERNATIONAL GAME TECHNOLOGY
PROFIT SHARING PLAN
TABLE OF CONTENTS
PAGE
Independent Auditors' Report 1
Statements of Net Assets
Available for Benefits 2
Statements of Changes in Net Assets Available
for Benefits 3
Notes to Financial Statements 4
Item 27a - Supplemental Schedule of Assets Held
for Investment Purposes 12
Item 27d - Supplemental Schedule of Reportable Transactions -
Single Transactions in Excess of 5% of
Plan Assets 13
Item 27d - Supplemental Schedule of Reportable Transactions -
Series of Transactions in Excess of 5% of
Plan Assets 15
<PAGE>
INDEPENDENT AUDITORS' REPORT
International Game Technology Profit Sharing Plan:
We have audited the accompanying statements of net assets available for
benefits of International Game Technology Profit Sharing Plan (the "Plan")
as of December 31, 1994 and 1993, and the related statements of changes in
net assets available for benefits for the years then ended. These
financial statements are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements based
on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan at December 31,
1994 and 1993, and the changes in net assets available for benefits for the
years then ended in conformity with generally accepted accounting
principles.
Our audits were conducted for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental schedules
listed in the Table of Contents are presented for the purpose of additional
analysis and are not a required part of the basic financial statements, but
are supplementary information required by the Department of Labor's Rules
and Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974. These supplemental schedules are the
responsibility of the Plan's management. Such schedules have been
subjected to the auditing procedures applied in our audit of the basic 1994
financial statements and, in our opinion, are fairly stated in all material
respects when considered in relation to the basic financial statements
taken as a whole.
DELOITTE & TOUCHE LLP
Reno, Nevada
March 13, 1995
<PAGE>
<TABLE>
<CAPTION>
INTERNATIONAL GAME TECHNOLOGY PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 1994 AND 1993
ASSETS NOTES 1994 1993
<S> <C> <C>
Money market and cash equivalents 2 $ 748,097 $ 635,744
Investments, at fair value 2,3 37,466,085 39,503,884
Contributions receivable 1 27,652 82,299
Loans to participants 1 1,926,022 1,071,520
Total assets 40,167,856 41,293,447
NET ASSETS AVAILABLE FOR
BENEFITS 1,2 $40,167,856 $41,293,447
</TABLE>
See accompanying notes to financial statements.
<PAGE>
<TABLE>
<CAPTION>
INTERNATIONAL GAME TECHNOLOGY PROFIT SHARING PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEARS ENDED DECEMBER 31, 1994 AND 1993
NOTES 1994 1993
ADDITIONS TO NET ASSETS
ATTRIBUTED TO:
Investment income:
Net increase in fair value of investments
<S> <C> <C>
2,3,4 $ - $3,234,593
Interest 4 207,203 145,661
Dividends 4 579,993 183,741
787,196 3,563,995
Contributions:
Employer 1,4 7,893,766 6,591,299
Employee 1,4 2,741,141 1,829,436
Total additions 11,422,103 11,984,730
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Net decrease in fair value
of investments 2,3,4 9,610,855 -
Benefits paid to participants 1 2,775,816 2,011,838
Administrative expenses 1 161,023 116,810
Total deductions 12,547,694 2,128,648
NET INCREASE (DECREASE) (1,125,591) 9,856,082
NET ASSETS AVAILABLE FOR BENEFITS:
BEGINNING OF YEAR 1,2 41,293,447 31,437,365
END OF YEAR $40,167,856 $41,293,447
</TABLE>
See accompanying notes to financial statements.
<PAGE>
INTERNATIONAL GAME TECHNOLOGY PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1994 AND 1993
1. DESCRIPTION OF PLAN
The IGT Profit Sharing Plan ("Plan") is sponsored by International Game
Technology ("Company") and consists of two programs: The Profit
Sharing Program and the 401(k) Program. The following is a brief
description of the Plan and provides general information. Participants
should refer to the IGT Plan Document and Summary Plan Description for
a more complete description of the Plan's provisions.
The Plan is subject to the provisions of the Employee Retirement Income
Security Act of 1974 ("ERISA"), as amended, and other provisions of the
Internal Revenue Code.
Profit Sharing Program
The Plan, adopted December 10, 1980 is a defined contribution plan
covering all eligible employees of International Game Technology. On
June 1, 1993 the Plan was restated to offer additional investment
options to participants as well as transfer the administration to a
Third-Party Administrator (refer to "Investment Options" below for
further information of available investment funds).
Company employees are eligible to participate in the Plan after
completing 1,000 hours of service in a calendar year and reaching the
age of 18. Once eligible, a Plan participant must be employed on the
last day of the Plan year (December 31) to receive their annual profit
sharing allocation. Participation in the Plan is retroactive to
January 1 of the year in which the employee became eligible.
The Company may make an annual profit sharing contribution, as
determined by the Company's Board of Directors, based on operating
profits. The contribution is then allocated to participant's accounts
proportionally based on annual eligible compensation. (Refer to
"Benefit Payments and Vesting" below for the Profit Sharing Program
vesting schedule).
401(k) Program
Effective January 1, 1989, the Plan was amended to allow participants
to defer up to 20% of their annual salary as contributions to their
accounts, as governed by IRC Section 401(k). On January 1, 1995, the
Company again amended the Plan to lower the elective deferrals from 20%
to 15%. An employee may begin contributing pre-tax contributions to
their accounts upon completion of 90 days of full time employment, or
one year as a part-time employee. A participant may stop contributing
to the Plan at any time upon adequate notice to the employer.
On January 1, 1993, the Company began a 401(k) contribution matching
program whereby the Company matches 100% of employee's contributions up
to $500 and an additional 50% of the next $500 contributed by the
employee. This allows for maximum annual Company matching
contributions of $750 to each employee's account. Employees are 100%
vested in all 401(k) contributions.
The Plan also allows for rollover contributions from other qualified
retirement plans. If the Rollover is by way of an individual
retirement arrangement, all assets in the prior retirement plan must
have originated as contributions made under a qualified plan.
<PAGE>
Participant Accounts
Each participant's account is credited with employee 401(k) and
employer matching contributions, the allocations of the Company's
profit sharing contribution and forfeitures of non-vested portions of
terminated participants' account balances. Additionally, participants'
accounts are effected by earnings and losses on investments. Each
participant is provided a quarterly account statement detailing the
account activity by investment fund.
Investment Options
IGT has selected seven investment options that have a variety of growth
and risk characteristics. Plan participants are able to elect how
their contributions are invested. A participant may allocate all
contributions to one investment fund or split them between any
combination of funds in increments of 1%. A participant may change how
current and/or future contributions are invested at any time during the
Plan year. The Plan's investment options are:
Capital Market Group Government Money Fund
Capital Market Group Intermediate Fixed Income Fund
Capital Market Group Small Capitalization Growth Equity Fund
Capital Market Group Large Capitalization Growth Equity Fund
Capital Market Group Large Capitalization Value Equity Fund
Capital Market Group International Equity Investment Fund
Common Stock - International Game Technology
The Capital Market Group International Equity Investment Fund is the
newest investment option and was added in November, 1994.
Hotline
The Plan offers a toll-free voice response Hotline which allows a
participant to access account information and initiate transactions at
any time. Participants are provided with a personal identification
number which is required when calling the Hotline.
<PAGE>
Benefit Payments and Vesting
Participants are immediately vested in their pre-tax 401(k)
contributions, company 401(k) matching contributions, and rollover
contributions from other qualified plans, plus earnings thereon. The
vested portion of a participant's profit sharing account is based upon
years of continuous service. A participant is 100% vested after seven
consecutive years of service, per the following vesting table:
<TABLE>
<CAPTION>
Completed Years
of Vesting Service Vested Portion
<S> <C>
0 0%
1 10%
2 20%
3 30%
4 45%
5 60%
6 80%
7 100%
</TABLE>
A participant earns a year of vesting service for each Plan year
(January 1 to December 31) in which they worked at least 1,000 hours.
Upon termination of employment, a participant may receive a lump sum
payment equal to the value of his or her account. If the termination
of employment is by normal retirement (retirement after age 65), by
death or by reason of total disability, the participant is 100% vested
and has the right to receive payment in full. If a participant leaves
the Company for any other reason, they are entitled to a distribution
from the "vested" portion of their account.
If a participant's vested account balance is $3,500 or more, they may
voluntarily defer payment of benefits until the normal retirement date.
In any case, they may not defer payment past the age of 70 1/2. The
only form of benefit payments are lump-sum payments, however, a
participant may take a partial lump-sum payment and defer the balance
of their account as long as the remaining balance is at least $3,500.
Hardship Withdrawals
The Plan allows for hardship withdrawals under defined circumstances.
The necessity of the hardship withdrawal is reviewed by the Company's
Benefits Committee and includes allowance for major medical expenses,
purchase of a primary residence, college expenses for a family member,
and prevention of eviction from or foreclosure on a principal
residence. A participant must stop making pre-tax 401(k) contributions
for a year following the hardship withdrawal.
Plan Termination
In the event of Plan termination, participants will become 100% vested
in their accounts. Although the Company has not expressed any intent
to do so, International Game Technology has the right under the Plan to
discontinue its contributions at any time and to terminate the Plan
subject to the provisions of ERISA.
<PAGE>
Loans
The Plan allows for loans to be taken against a participant's vested
account, subject to the following restrictions: the loan amount may be
no less than $1,000 and no more than the lesser of 50% of the
participant's vested account balance or $50,000; interest is charged on
a simple interest basis at the prime rate plus 1%; and repayment must
be over a period not to exceed 60 months. Payments are made by payroll
deduction on a bi-weekly basis.
Administrative Expenses
Plan administrative expenses totaling $161,023 in 1994 and $116,810 in
1993 were paid by the Plan. These include management fees and trustee
fees. Consulting fees and recordkeeping fees are paid by the employer.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
The Plan is accounted for on the accrual basis of accounting.
Cash and Cash Equivalents
Securities with maturities upon purchase of three months or less are
considered cash equivalents. Such investments are stated at cost,
which approximates market, and are deemed to be cash equivalents.
Valuation of Investments
All investments of the Plan are valued at quoted market prices as of
December 31, 1994 and 1993.
Benefits Payable
In 1993, the Plan changed its method of accounting for benefits payable
to comply with the 1993 AICPA Audit and Accounting Guide, Audits of
Employee Benefit Plans. The new guidance requires that benefits
payable to persons who have withdrawn from participation in a defined
contribution plan be disclosed in the footnotes to the financial
statements rather than be recorded as a liability of the Plan. As of
December 31, 1994 and 1993, net assets available for benefits included
benefits of $1,533,390 and $1,023,008 due to participants who have
withdrawn from participation in the Plan.
<PAGE>
Reclassifications
Certain amounts in the 1993 financial statements have been reclassified
to conform to the 1994 presentation.
3. INVESTMENTS
All investments of the Plan are administered by an investment
management agent. The following table presents the fair value of
investments at quoted market prices at December 31:
<TABLE>
<CAPTION>
1994 1993
<S> <C> <C>
Capital Market Group Government
Money Fund $ 4,892,121 $ 1,996,444
Capital Market Group Intermediate
Fixed Income Fund 2,666,998 2,766,799
Capital Market Group Small
Capitalization Growth Equity Fund 4,018,895 2,396,200
Capital Market Group Large
Capitalization Growth Equity Fund 3,764,996 3,112,178
Capital Market Group Large
Capitalization Value Equity Fund 3,815,190 3,322,164
Capital Market Group International
Equity Investment Fund 353,003 -
Common stock - International Game
Technology 10,934,469 20,059,705
U.S. Treasury Bills 7,020,413 5,850,394
Total investments $37,466,085 $39,503,884
</TABLE>
The Plan's investments decreased in value by $9,610,855 in 1994 and
increased in value by $3,234,593 in 1993 as follows:
<TABLE>
<CAPTION>
1994 1993
<S> <C> <C>
Capital Market Group Intermediate Fixed
Income Fund $(185,298) $ (24,774)
Capital Market Group Small Capitalization
Growth Equity Fund 460,219 354,681
Capital Market Group Large Capitalization
Growth Equity Fund 18,799 208,937
Capital Market Group Large Capitalization
Value Equity Fund (221,068) 147,273
Capital Market Group International Equity
Investment Fund 360 -
Common stock - International
Game Technology (9,683,867) 2,733,296
Alliance Short-Term Fund - 4,442
Navellier Fund - 39,975
Ashfield Balanced Fund - (104,335)
Ashfield Growth Fund - (126,990)
Hartwell Fund - (20,791)
U.S. Treasury Bills - 21,434
Other, net - 1,445
Net increase (decrease) in
fair value $ (9,610,855) $3,234,593
</TABLE>
<PAGE>
4. FUND INFORMATION
Contributions, withdrawals, investment income and changes in fair value
of investments by fund are as follows for the years ended December 31,
1994 and 1993:
<TABLE>
<CAPTION>
1994 1993
<S> <C> <C>
Participant Contributions:
Capital Market Group Government Money Fund $ 456,583 $ 99,421
Capital Market Group Intermediate Fixed
Income Fund 206,462 124,253
Capital Market Group Small Capitalization
Growth Equity Fund 319,889 117,970
Capital Market Group Large Capitalization
Growth Equity Fund 378,577 176,026
Capital Market Group Large Capitalization
Value Equity Fund 339,359 205,731
Capital Market Group International Equity
Investment Fund 12,256 -
Common Stock - International Game Technology 1,028,015 931,490
U.S. Treasury Bills - -
Alliance Short-Term Fund - 39,363
Shearson Money Market Funds - 45,030
Provident Money Market Funds - 19,888
Navellier Fund - 27,600
Ashfield Balanced Fund - 18,144
Ashfield Growth Fund - 16,546
Hartwell Fund - 7,974
Total $ 2,741,141 $1,829,436
Employer Contributions:
Capital Market Group Government Money Fund $ 93,936 $ 33,246
Capital Market Group Intermediate
Fixed Income Fund 57,996 26,017
Capital Market Group Small Capitalization
Growth Equity Fund 80,044 25,836
Capital Market Group Large Capitalization
Growth Equity Fund 92,438 38,765
Capital Market Group Large Capitalization
Value Equity Fund 96,200 41,370
Capital Market Group International Equity
Investment Fund 1,115 -
Common Stock - International Game Technology 399,921 364,979
U.S. Treasury Bills 7,072,116 5,850,394
Alliance Short-Term Fund - 26,156
Shearson Money Market Funds - 124,631
Provident Money Market Funds - 13,215
Navellier Fund - 18,340
Ashfield Balanced Fund - 12,056
Ashfield Growth Fund - 10,995
Hartwell Fund - 5,299
Total $7,893,766 $6,591,299
Total Contributions $10,634,907 $8,420,735
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
1994 1993
<S> <C> <C>
Withdrawals:
Capital Market Group Government Money Fund $324,452 $241,807
Capital Market Group Intermediate
Fixed Income Fund 202,523 107,834
Capital Market Group Small Capitalization
Growth Equity Fund 310,263 17,045
Capital Market Group Large Capitalization
Growth Equity Fund 321,970 54,488
Capital Market Group Large Capitalization
Value Equity Fund 175,208 74,364
Capital Market Group International Equity
Investment Fund 938 -
Common Stock - International Game Technology 1,378,196 1,281,168
Loan Fund 62,266 974
U.S. Treasury Bills - -
Alliance Short-Term Fund - 52,807
Shearson Money Market Funds - 60,410
Provident Money Market Funds - 26,680
Navellier Fund - 37,026
Ashfield Balanced Fund - 24,340
Ashfield Growth Fund - 22,197
Hartwell Fund - 10,698
Total $ 2,775,816 $2,011,838
Interest and Dividends:
Capital Market Group Government Money Fund $ 165,939 $ 47,522
Capital Market Group Intermediate
Fixed Income Fund 171,421 67,534
Capital Market Group Small Capitalization
Growth Equity Fund - -
Capital Market Group Large Capitalization
Growth Equity Fund 28,855 -
Capital Market Group Large Capitalization
Value Equity Fund 159,121 -
Capital Market Group International Equity
Investment Fund - -
Common Stock - International Game Technology 84,906 62,097
Loan Fund 115,864 2,719
U.S. Treasury Bills 61,090 -
Alliance Short-Term Fund - 29,002
Shearson Money Market Funds - 36,389
Provident Money Market Funds - 14,034
Navellier Fund - 15,408
Ashfield Balanced Fund - 41,051
Ashfield Growth Fund - 10,991
Hartwell Fund - 2,655
Total $ 787,196 $ 329,402
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
1994 1993
<S> <C> <C>
Increase (Decrease) in Fair Value of Investments:
Capital Market Group Government Money Fund $ - $ -
Capital Market Group Intermediate
Fixed Income Fund (185,298) (24,774)
Capital Market Group Small Capitalization
Growth Equity Fund 460,219 354,681
Capital Market Group Large Capitalization
Growth Equity Fund 18,799 208,937
Capital Market Group Large Capitalization
Value Equity Fund (221,068) 147,273
Capital Market Group International Equity
Investment Fund 360 -
Common Stock - International Game Technology(9,683,867) 2,733,296
Loan Fund - -
U.S. Treasury Bills - 21,434
Alliance Short-Term Fund - 4,442
Shearson Money Market Funds - -
Provident Money Market Funds - -
Navellier Fund - 39,975
Ashfield Balanced Fund - (104,335)
Ashfield Growth Fund - (126,990)
Hartwell Fund - (20,791)
Other, net - 1,445
Total $ (9,610,855) $3,234,593
</TABLE>
5. FEDERAL INCOME TAXES
The Plan has received a determination letter dated October 4, 1985 from
the Internal Revenue Service qualifying it as an exempt organization
under Sections 401(a) and 501(a) of the Internal Revenue Code.
Accordingly, no provision for federal income taxes has been made in the
accompanying financial statements. The Plan has been amended since
receiving the determination letter and the Company has filed for a new
letter. However, the Company believes that the Plan is designed and is
currently being operated in compliance with the applicable requirements
of the Internal Revenue Code.
<PAGE>
<TABLE>
<CAPTION>
INTERNATIONAL GAME TECHNOLOGY PROFIT SHARING PLAN
ITEM 27A - SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1994
(b) (c) (d) (e)
Maturity Interest Current
Description Date Rate Units Cost Value
<S> <C> <C> <C>
Capital Market Group Government
Money Fund $4,892,121 $4,892,121 $4,892,121
Capital Market Group Intermediate
Fixed Income Fund 347,718 2,849,091 2,666,998
Capital Market Group Small
Capitalization Growth
Equity Fund 292,071 3,464,081 4,018,895
Capital Market Group Large
Capitalization Growth
Equity Fund 386,947 3,616,790 3,764,996
Capital Market Group Large
Capitalization Value
Equity Fund 449,905 4,000,226 3,815,190
Capital Market Group International
Equity Investment Fund 35,549 356,507 353,003
Common Stock - International Game
Technology 694,252 11,676,708 10,934,469
U.S. Treasury Bills 70,710 7,020,413 7,020,413
Total investments $37,875,937 $37,466,085
<FN>
Notes on Columns (a) through (e):
(a) Omitted from the Department of Labor format because the answer is none.
(b) General description of investments.
(c) Maturity dates and stated rates of interest are not applicable due
to the nature of these investments.
(d) Purchase price of investment.
(e) Market value of investment at December 31, 1994, as determined by
quoted market prices.
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INTERNATIONAL GAME TECHNOLOGY PROFIT SHARING PLAN
ITEM 27d - SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS - SINGLE
TRANSACTIONS IN EXCESS
OF 5% OF PLAN ASSETS
FOR THE YEAR ENDED DECEMBER 31, 1994
(a) (b) (c) (d) (g) (h) (i)
Identity of Description Purchase Selling Cost of Value of Net
Party Involved of Transaction Price Price Asset TransactionGain/Loss
<S> <C> <C> <C> <C> <C>
Smith Barney Shearson,Inc. Purchase of money
market shares $6,129,722 $ - $ - $ - $ -
Smith Barney Shearson, Inc.Purchase of common
stock IGT 2,856,060 - - - -
Smith Barney Shearson, Inc.
Sale of money market shares - 2,956,091 2,956,091 2,956,091 -
Smith Barney Shearson, Inc.
Sale of money market shares - 2,838,758 2,838,758 2,838,758 -
Smith Barney Shearson, Inc.
Sale of U.S. Treasury bills - 5,845,385 5,845,385 5,845,385 -
Smith Barney Shearson, Inc. Purchase of U.S.
Treasury bills 2,738,059 - - - -
Smith Barney Shearson, Inc.
Sale of U.S. Treasury bills - 2,738,059 2,738,059 2,738,059 -
Smith Barney Shearson, Inc. Purchase of U.S.
Treasury bills 4,545,752 - - - -
Smith Barney Shearson, Inc.
Sale of U.S. Treasury bills - 4,545,752 4,545,752 4,545,752 -
Smith Barney Shearson, Inc. Purchase of U.S.
Treasury bills 4,582,517 - - - -
Smith Barney Shearson, Inc.
Sale of U.S. Treasury bills - 4,582,517 4,582,517 4,582,517 -
Smith Barney Shearson, Inc. Purchase of U.S.
Treasury bills 7,020,413 - - - -
Smith Barney Shearson, Inc. Purchase of money
market shares 5,870,000 - - - -
Smith Barney Shearson, Inc.
Sale of money market shares - 6,011,278 6,011,278 6,011,278 -
Smith Barney Shearson, Inc.
Sale of money market shares - 2,738,059 2,738,059 2,738,059 -
Smith Barney Shearson, Inc. Purchase of money
market shares 2,738,059 - - - -
Smith Barney Shearson, Inc.
Sale of money market shares - 4,545,752 4,545,752 4,545,752 -
</TABLE>
<PAGE>
(Continued)
<TABLE>
<CAPTION>
INTERNATIONAL GAME TECHNOLOGY PROFIT SHARING PLAN
ITEM 27d - SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS - SINGLE
TRANSACTIONS IN EXCESS
OF 5% OF PLAN ASSETS
FOR THE YEAR ENDED DECEMBER 31, 1994 (CONTINUED)
(a) (b) (c) (d) (g) (h) (i)
Identity of Description Purchase Selling Cost of Value of Net
Party Involved of Transaction Price Price Asset TransactionGain/Loss
<S> <C> <C> <C> <C> <C>
Smith Barney Shearson, Inc.Purchase of money
market shares 4,545,752 - - - -
Smith Barney Shearson, Inc.
Sale of money market shares - 4,582,517 4,582,517 4,582,517 -
Smith Barney Shearson, Inc.Purchase of money
market shares 4,582,517 - - - -
Smith Barney Shearson, Inc.
Sale of money market shares - 7,020,413 7,020,413 7,020,413 -
<FN>
Notes to columns (c) through (i)
(c) Purchase price of investments bought during the year.
(d) Proceeds received from redemption of investments maturing or sold
during the year.
(e) and (f) Omitted from the Department of Labor format because the answer
is none.
(g) Purchase price of investment plus or minus the amortization of
discount or premium received or paid at the date of sale.
(h) Market value at the date of maturity or sale for each investment shown
in column (d).
(i) Difference between columns (d) and (g).
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INTERNATIONAL GAME TECHNOLOGY PROFIT SHARING PLAN
ITEM 27D - SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS - SERIES OF
TRANSACTIONS IN EXCESS
OF 5% OF PLAN ASSETS
FOR THE YEAR ENDED DECEMBER 31, 1994
(a) (b) (c) (d) (g) (h) (i)
Identity of Description Purchase Selling Cost of Value of Net
Party Involved of Transaction Price Price Asset Transaction Gain/Loss
<S> <C> <C> <C> <C> <C>
Smith Barney Shearson, Inc. Purchase of money
market shares $34,806,169 $ - $ - $ - $ -
Smith Barney Shearson, Inc. Sale of money
market shares - 38,764,206 38,764,206 38,764,206 -
Smith Barney Shearson, Inc. Purchase of U.S.
Treasury bills 18,886,741 - - - -
Smith Barney Shearson, Inc. Sale of U.S.
Treasury bills - 17,711,713 17,711,713 17,711,713 -
Smith Barney Shearson, Inc. Purchase of
IGT common stock 5,374,232 - - - -
Smith Barney Shearson, Inc. Sale of
IGT common stock - 4,823,894 3,672,668 4,823,894 1,151,226
Smith Barney Shearson, Inc. Purchase of Small
Capitalization Growth Equity Fund 2,856,743 - - - -
<FN>
Notes to columns (c) through (i)
(c) Purchase price of investments bought during the year.
(d) Proceeds received from redemption of investments maturing or sold
during the year.
(e) and (f) Omitted from the Department of Labor format because the answer
is none.
(g) Purchase price of investment plus or minus the amortization of
discount or premium received or paid at the date of sale.
(h) Market value at the date of maturity or sale for each investment shown
in column (d).
(i) Difference between columns (d) and (g).
</FN>
</TABLE>
<PAGE>
The Plan. Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the employee benefit
plan) have duly caused this annual report to be signed on its behalf by the
undersigned, thereunto duly authorized.
INTERNATIONAL GAME TECHNOLOGY
PROFIT SHARING PLAN
Date: June 29, 1995
By:/s/John J. Russell
John J. Russell
Chief Executive Officer
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration
Statement No. 33-63608 of the International Game Technology
Profit Sharing Plan on Form S-8 of our report dated March
13, 1995, appearing in this Annual Report on Form 11-K of
the International Game Technology Profit Sharing Plan for
the year ended December 31, 1994.
DELOITTE & TOUCHE LLP
Reno, Nevada
June 27, 1995
