IGT expo stand
Gaming machine supplier International Game Technology (IGT) said it saw strong sales growth in the second quarter of 2019, despite reporting a fall in net profit in the period.
Total revenue increased 2.7 percent year-on-year in 19Q2 reaching $1.23 billion.
IGT CEO Marco Sala said the top-line growth was driven by “a sharp increase in gaming product sales and impressive gains in global lottery same-store revenues.”
According to an investor presentation, global gaming machine unit shipments was up 46 percent in the quarter, with robust replacement demand in North America and its international divisions.
The company also saw sustained momentum in global lotteries, with growth seen in North America, International, and Italy.
However, the company posted a significantly narrowed net income in the quarter, falling to $4.9 million, from $161.5 million in 18Q2.
Despite the slide in profit, IGT’s board of directors have declared a quarterly cash dividend of $0.20 per ordinary share.
The role of casino employees, who play a central tenet in ensuring guest satisfaction, has had to pivot due to Covid-19 from that of being the perfect host to enforcing strict health and safety guidelines.
While the past six months have undoubtedly been devastating for the gaming industry, in just a short space of time suppliers have shown their ability to adapt and react, releasing new products for the new reality and refocusing business models.
With Macau continuing to haemorrhage VIP gamblers, there has never been a greater onus on operators in the special administrative region to latch on to the relative predictability afforded by the premium and mass markets.
The increased space for players on gaming floors due to Covid-19 has been welcomed by clients and is likely to be a trend that is here to stay, executives from three of the world’s largest suppliers said on a panel at the Australasian Gaming Expo seminars.
International Game Technology (IGT) said its first-quarter results were affected by Covid-19 related lockdowns beginning in March, and have subsequently reduced its 2020 profit outlook due to uncertainty. According to a results filing from the company on Monday, revenue fell 18 percent year-on-year in the first quarter of 2020, reaching $940 million. This was due […]
IGT said it was standing down 2,300 workers in North America as a result of the Covid-19 pandemic.
International Game Technology (IGT) posted its financial results to the end of 2019, noting that consolidated revenue came in at US$4.79 billion, down 1 percent from 2018. Similarly, operating income was US$637 million, down 2 percent from the prior year; and adjusted EBITDA was US$1.71 billion, down 1 percent. The company noted that it had […]
At ICE 2020, IGT will demonstrate its commitment to player-driven performance through its vast array of proven games, cabinets, systems, and solutions at the ICE London show. An update to the player-favorite Fortune Coin Video Slots, Fortune Coin Boost! features exciting new Boost coins that enhance the bonuses and credits by multiplying coin values. Boost […]
inaugural G2E Asia @ the Philippines wrapped up on Wednesday, with suppliers at the show expressing optimism about future growth in the country, in particular regionally and the potential for product experimentation. The two-day conference and exhibition was smaller in size than its sister shows in Las Vegas and Macau, but made up for it […]
Alberto Fornaro, CFO for International Game Technology (IGT) unexpectedly resigned this week to join Coupang, South Korea’s largest eCommerce platform and one of the fastest-growing consumer internet companies in the world.