NEWS
14 May 2015
GTech revenue up as Legacy IGT suffers decrease
By Gareth Bracken
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.