International Game Technology PLC (IGT) has officially rebranded as Brightstar Lottery, effective immediately, as the company prepares to become an independent...
IGT reports strong Q2 results
International Game Technology (IGT) has published its Q2 report, highlighting strong financial results.
The revenue for Q2 2024 was reported to be $1.05 billion, a decrease of just 1% compared to Q2 2023. This amount included $436 million from Gaming and Digital, while Global Lottery contributed $613 million.
On the other hand, Global Lottery’s operating revenues were recorded at $212 million whereas those for Gaming & Digital stood at $103 million. Without factoring in separation and divestiture costs, there was an operating profit of $256 million at a margin of 24.4%.
IGT reported several key highlights: a seven-year contract with the Colorado Lottery, a three-year extension with the Mississippi Lottery Corporation, and a five-year iLottery content contract with the Atlantic Lottery Corporation. They also launched iLottery in Connecticut. In Q2, IGT introduced new products, including Tiger and Dragon on the PeakCurve49 cabinet and a digital version of Prosperity Link.
IGT’s chief executive officer Vince Sadusky said:
“Consistent investments in technology, game content, and other innovative solutions provide us a solid foundation to build from as we execute on our growth objectives.”
According to IGT’s chief financial officer, Max Chiara, the IGT team now has a great deal of freedom in investing and maintaining its portfolio of long-term lottery contracts.
International Game Technology PLC (IGT) renewed its sports betting agreement with FanDuel for an additional four years.IGT and Fanduel started to work together in 2019...
