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IGT reverses loss but sees quarterly revenues slide

International Game Technology reversed a fourth-quarter net loss from a year ago, but diminished sales because of casinos’ continued disinterest in new purchases caused quarterly revenues to slide 3 percent. The Reno-based company, which controls about 60 percent of the North American slot machine market, said Tuesday its net income was $19.9 million during the quarter that ended Sept. 30, or earnings of 7 cents per share. A year ago, IGT lost $28.6 million, or 10 cents a share.

Riviera Holdings plan OK’d

Riviera Holdings Corp. will be the latest casino company to turn over the keys to its lenders following Monday’s approval of its Chapter 11 reorganization plan by U.S. Bankruptcy Court Judge Linda Riegle.