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NEWS 14 November 2019

IGT Q3 revenue up 3% despite Italian decline

By Owain Flanders

IGT has reported revenue of $1.15bn for Q3 2019, a 3% rise year-on-year at constant currency.

Operating income fell 19% to $154m, while adjusted EBITDA dropped 5% to $407m.

The supplier’s net debt decreased 3% to $7.35bn.

IGT attributed its revenue growth, which was flat when not measured at constant currency, to an increase in global gaming product sales.

North America gaming and interactive revenue was $253m, an increase of 10%, while lottery revenue in the country was $38m, a rise of 1% from 2018.

Total Italian revenue fell 1% to $402m, with the sharpest drop in gaming, down 7% at $154m. The supplier attributed this mainly to the impact of higher machine gaming taxes in the country.

Marco Sala, IGT CEO, said: "Key performance indicators were solid in the quarter – gaming machine unit shipments increased 44%, while same-store revenue for draw games and instants rose 4%.

"Our leading positions are rooted in our focus on player-driven performance, which was on display at recent lottery and gaming trade shows and should sustain our momentum going forward."

Last month, IGT was awarded the license to operate Brazil’s Lotex instant lottery in partnership with Scientific Games.

RELATED TAGS: Online | Financial | Lottery | Casino
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