IGT reports steady revenue in Q2 2023
IGT has recently published its latest quarterly financial performance analysis.
The report’s headline figure was a revenue of just over a billion dollars, which is 3% higher than the firm’s revenue in the second quarter of last year. Its operating income experienced a slightly higher increase of 10%, going from 228 million dollars last year to just over 250 million dollars in 2023.
IGT’s adjusted EBITDA statistics increased as well, going from 409 million dollars to 443 million dollars, which is an increase of 8%. The gambling firm’s EBITDA and operating income margins increased slightly as well, with the former reaching 42% and the latter 23.8% at the end of the period.
Breaking down the statistics by operating segment, the company’s worldwide lottery offerings generated the most revenue and income at 624 million and 229 million dollars respectively. This was followed by IGT’s gaming division, which made 373 million dollars in revenue and 71 million dollars in operating income, while its PlayDigital solutions came in last place with a revenue of 59 million and an income of 18 million dollars.
The year’s second quarter was also full of noteworthy collaborations and contracts for IGT. A few of the partnerships mentioned in the report were the firm’s ten-year extension with Sony for the latter’s Wheel of Fortune brand, the acquisition of a 20-year gambling license in Brazil, and the signing of a ten-year contract with Malta’s national lottery.