IGT Posts First Quarter Loss

Land and online betting giant International Game Technology has posted a trading update, indicating that the company is posting a first quarter loss due to the effects of Covid-19 shutting down casino operations around the globe.

Key financial indicators for the quarter ending March 30th, 2020 were:

  • Revenue down 17.9% to $940.2 million
  • An impairment charge of $296 million related to the virus
  • Revenues from product sales up 2% to $157 million
  • Lottery revenues down 17% to $444 million
  • Gaming revenues down 24% to $393 million
  • Gaming product sales down 29% to $124 million

The full financial results will be released later today, and we'll relay any meaningful insights from the company if they become available.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

Comments

Post new comment

There are currently no comments on this page. Be the first!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.