International Game Technology (IGT) saw a slight drop in its revenue during the third quarter, dropping by 2 percent to $587 million, also pushing down operating income by one-third, to $110 million.
Adjusted EBITDA for the company also retracted during the quarter, by 6 percent, to $264 million.
The quarter marks the first period where its Gaming & Digital arm are not included, due to the sale of the segment earlier this year for $4.05 billion in cash.
Looking at the results, the group highlighted increased multi-state jackpot activity in the United States, with improvements in same-store sales in Italy and increases in US instant ticket and draw-game trends.
During the period, the group boosted in research and development budget to $12 million, compared to $9 million in the previous year, ‘related to increased investment in growth initiatives’.
Speaking of the results, CEO Vince Sadusky noted “Our third-quarter and year-to-date performance underscores the strength and resilience of our business model marked by our scale, attractive margin structure, and strong cash generation.”
