IGT Financials Slip in Third Quarter

This story was published more than 1 year ago.

Land and online giant International Game Technology (IGT) has announced their third quarter 2018 financial results, revealing that their revenues dropped during the period.

Key financial indicators for the quarter ending September 30th, 2018 were:

  • Revenues of $1.16 billion, down 5.4% from the year prior
  • Net income of $22.3 million compared to a loss of $803.6 million last year
  • Debt of $7.57 billion, up from $7.34 billion last year
  • Operating income of $200 million, up from a loss of $556.1 million last year
  • Adjusted EBITDA of $443.3 million, up 3.5% from last year

Commenting on the results IGT CEO Marco Sala said, "Solid performance and important, long-term contracts drove very good third quarter and year-to-date results…The installed base of gaming machines was up, and unit shipments of gaming machines increased 10 percent… We are firmly on track to achieve our 2018 financial and operational goals."

"We have also had a great success with high profile license properties, such as The Voice and Wheel of Fortune, which we'll leverage across the IGT franchise. The vision of our new printing press at the beginning of the year has driven a 20% increase in the number of games printed. We have recently secured instant ticket printing contract extensions in Texas, New York and Idaho."

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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bgsharpe
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9 November 2018 - 1:38pm
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Debt of $7.57 billion, up from $7.34 billion last year

Wow, couldn't believe my eyes seeing that and it still growing further.