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IGT sees slight drop in revenue in 3Q24, with operating income down by a third

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.”

Kelsey Wilhelm
Kelsey Wilhelmhttps://agbrief.com
Kelsey Wilhelm is a broadcast, print journalist and editor based in Asia for over 15 years. Focused on content creation, management, cross-cultural exchange and interviews for multi-lingual productions. Writing focus on gaming, business, politics, culture and heritage, events and celebrities, subcultures, music, film, art and fashion. Some of Kelsey's specialties are: editing, writing, copy creation, multi-lingual content production, cross-cultural exchange, content creation and management for Asian markets.

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