GTech revenue up as Legacy IGT suffers decrease

Providers GTech and IGT have reported contrasting revenue results in their final standalone financial releases.

Updated on 14 May 2015

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GTech, which acquired IGT for $6.4bn last month, posted a 3% year-on-year revenue increase to €807.7m for the first quarter of 2015, as well as a near identical EBITDA of €295.6m.

Operating income fell 18% to €149.3m, although the firms says this figure would have been €170m were it not for “one-off items, primarily transaction and restructuring costs associated with the acquisition of Legacy IGT”.

Meanwhile Legacy IGT saw revenue drop 22% year-on-year to $399.4m for the firm’s Q2 2015.

Operating income of $72.1m for Q2 2014 has become an operating loss of $7.2m for Q2 2015, while a net income of $25.7m has fallen to a net loss of $13.1m.

GTech completed its acquisition of IGT on 7 April, with the new firm known as International Game Technology (IGT) PLC, with Marco Sala as CEO.

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Gareth Bracken

Journalist

Gareth Bracken is an experienced gaming journalist and editor who spent more than six years with Players Publishing, progressing through a range of senior editorial roles across its flagship titles, including Gambling Insider. He joined the company in 2010 as an Editorial Assistant before advancing to Staff Writer, Senior Staff Writer, Editor, and later Senior Features Writer.

Between 2011 and 2016, Gareth played a central role in shaping editorial output across print and digital platforms, producing in-depth features, news coverage and long-form analysis on the global gambling and iGaming industries. As Editor from September 2014 to October 2015, he oversaw content strategy, editorial standards and production workflows, helping guide the publication’s development as a leading B2B industry voice.

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