IGT Posts First Quarter Loss

This story was published more than 2 years ago.

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.