GTech revenue up as Legacy IGT suffers decrease

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

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.