Recently, the Q1 results of many different gambling firms were released. Well, we have the Q1 results for IGT, one of the biggest gambling operators in the world, published. Compared with last year, their figures took a shocking turn. Let’s take a look.
As previously mentioned, the Q1 results for many different gambling operators can be found at our designated page for the latest online gambling news. Feel free to head on over there now to find out all the hottest gambling-related stories as well as the Q1 results of other gambling firms.
IGT Look Towards Improvement for Q2
When including year-on-year results, the Q1 for IGT saw revenue drop 5% to $1.14bn. As for operating income, that dropped 10% to $178m.
Adjusted EBITDA saw a 4% slide to $417m, with the supplier reporting net income of $40m.
Revenue of $239m was made in its North American Gaming and Interactive sector, down 2% which the operator describes as stable.
Revenue of $239m was made in its North American Gaming and Interactive sector, down 2%, which the operator describes as stable.
Total gaming revenue from IGT’s North American Lottery rose 10% to $41m.
The supplier says the decline in North American Q1 results is driven by the comparison with an exceptionally high sales period last year.
In Italy, total revenue declined 13% to $153m. The operator attributed this to increased taxes, despite an improved productivity of gaming machines.
Marco Sala, CEO of IGT, remained optimistic in his Q1 report and focused on the growth of global sales. He went on to state the following:
“Our first quarter results confirm the consistent growth profile of our global lottery business and the progress we’ve made in sales of gaming machines, where global unit shipments increased 20%.”
Do you think that IGT will do more to prepare for a better Q2? We will be reporting on their results when Q2 is all but done and we will see if the company has got what it takes to improve on these figures for a stronger second quarter of the year.