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IGT reports 15% revenue decline for Q3

International Game Technology (IGT) has reported revenue of $982m for Q3 2020, a 15% decrease year-on-year. 

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The figure was, however, a 54% increase from the preceding quarter. 

The gaming and lottery provider reported that $570m of the $982m total came from global lottery revenue, which had a 3% increase from the previous year.

The figure was driven by double-digit growth in North America same-store sales, and represents the strongest growth for IGT in seven quarters. 

The remaining $412m meanwhile was generated through global gaming revenue, which was down 31% from the year prior. 

This decline was a direct result of closures and restrictions amid the current COVID-19 pandemic. 

“The resilience of our portfolio, particularly in lottery, and benefits from our swift cost reduction initiatives are on full display in our third quarter results,” said IGT CEO Marco Sala. 

“Strong player demand and a host of compelling new games, systems, and digital solutions led to a sharp, sequential improvement in our most important markets.  

“We continue to monitor the evolution and impact of the pandemic around the world. With a simplified organisation firmly in place, we are creating a leaner, stronger IGT.” 

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