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NEWS 20 May 2019

IGT reports Q1 revenue of $1.14bn as results drop across operations

By Matthew Enderby

IGT saw its Q1 revenue decline 5% year-on-year to $1.14bn, with operating income dropping 10% to $178m.

Adjusted EBITDA slid 4% to $417m, with the supplier reporting net income of $40m.

Revenue of $239m was made in its North American Gaming and Interactive sector, down 2%, which the operator describes as stable.

Total gaming revenue from IGT's North American Lottery rose 10% to $41m.

The supplier says the decline in North American Q1 results is driven by the comparison with an exceptionally high sales period last year.

In Italy, total revenue declined 13% to $153m. The operator attributed this to increased taxes, despite an improved productivity of gaming machines.

Marco Sala, CEO of IGT, remained optimistic in his Q1 report and focused on the growth of global sales.

He said: "Our first quarter results confirm the consistent growth profile of our global lottery business and the progress we’ve made in sales of gaming machines, where global unit shipments increased 20%."

RELATED TAGS: Land-Based | Casino | Financial
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