IGT reports Q2 net loss

By Tom Lewis
Supplier IGT has reported a net loss of $116.9m for the second quarter of 2015, compared to net income of $55m for the same period last year.

The results translate into a net loss per share of 59 cents.

The firm's income was affected by Q2 interest expenses of $122m compared to $56m last year, reflecting the increased debt incurred to finance its acquisition of GTech.

The Q2 earnings report represents the first time the combined version of IGT and GTech has reported its earnings as a single entity following the combination of the companies in April.

Quarterly revenue for IGT was $1.29bn, a year-on-year increase of 36%.

IGT chief executive Marco Sala said: “As anticipated, our second quarter results reflect the stable growth characteristics of our global lottery operations and a meaningful sequential improvement in our gaming operations."

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