IGT Financials Grow in First Quarter

Land and online gaming giant International Game Technology has released their first quarter financial results, revealing that the group's fiscal performance grew during the period.

Key financial indicators for the first quarter ending March 31st, 2018 were:

• Revenues of $1.21 billion, up 5% from the same time last year
• Operating income up 65% to $197 million, up from $119 million last year
• Adjusted operating income up 6% to $251 million
• Adjusted EBITDA up 18% to $436 million
• Net debt up 2% to $7.53 billion
• Adjusted net income per diluted share down 48% to $0.15

Commenting on his company's performance IGT CEO Marco Sala said, "Compelling content and technology solutions are driving our results; lottery same-store revenue growth was among the highest levels in the last several quarters, even in our largest markets.

"A sharp increase in systems sales, double-digit growth in global gaming machine replacement unit shipments, and sequential improvement in the North America installed base confirm the good momentum of our global Gaming business.

"The positive underlying contribution from each of our operating segments provides a strong start to the year."