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.
