IGT reports $984m in revenue for Q3 2021

Global Lottery brought in $652m for IGT in Q3.

11/10/21

The company has reported a 21 per cent increase in revenue driven by growth in all business segments.

UK.- International Game Technology (IGT) has reported $984m in Q3 revenue, a 21 per cent increase driven by double-digit growth across all business segments. Operating income more than doubled to $212m.

The Global Lottery division brought in $652m to constitute almost two-thirds of IGT’s total revenue for the period. In second place was Global Gaming with $289m. Digital & Betting reported $43m and saw the biggest growth, up by 37 per cent year-on-year.

Marco Sala, IGT’s CEO said: “Broad-based momentum across our Lottery, Gaming, and Digital & Betting activities drove significant improvement in key financial and performance metrics in the third quarter.

“Revenue grew over 20% and operating income more than doubled, highlighting the strength of our portfolio. Based on our excellent year-to-date results and our solid financial condition, the board reinstated a quarterly cash dividend, signalling their confidence in the company’s prospects.”

Max Chiara, CFO, added: “We are supporting strong top-line growth with strategic investments in the business while still making good progress on optimising our cost structure.

“Achieving our goal of reducing net debt leverage below 4.0x was a big accomplishment in the quarter. We look forward to sharing our strategy, long-term growth initiatives and capital allocation plans during our upcoming investor day on 16 November 2021.”