IGT Announces Exponential Growth in First Quarter

Staff Writer Industry News, IGT 1,214

Global iGaming giant International Gaming Technology (IGT) has, after its year-on-year growth across diverse crucial financials in the first quarter (Q1), acclaimed its “compelling” content and technology solutions.

The Ever-Growing Numbers

The company’s revenue in the three months preceding 31st of March this year amounted to $1.21 billion (€1.03 billion), which is up 5% on $1.15 billion in the same months the previous year. IGT’s operating income has moved up 65% year-on-year from $119 million to $197 million, and the adjusted operating income also rose 6% from $238 million to $251 million.

Elsewhere, the adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of the firm improved 18% from $371 million to $436 million. However, the net debt also went up by 2% to $7.53 billion. The adjusted net income per diluted share for the Q1 totalled $0.15, which is down 48% on $0.49, the amount recorded in the first three months of the year 2017.

It Has Never Been Better

Marco Sala, chief executive of IGT, has declared that it is IGT’s compelling content and technology solutions that drive its incredible results. Sala has also added that the growth of the lottery same-store revenue achieved by the International Gaming Technology has never been at a higher level, especially compared to the last several quarters.

Sala has also commented on the sharp surge in the sales of systems, double-digit growth in global gaming machine replacement unit shipments as well the sequential improvement in the North America installed base. Sala has announced that all of these “confirm the good momentum of [their] global gaming business.”

IGT CEO has concluded the statement on a positive note by saying, “The positive underlying contribution from each of our operating segments provides a strong start to the year.”

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