IGT posts strong sales growth in 19Q2

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.