IGT capitalises on three-pronged attack

For IGT the third quarter of 2022 showed steady progress and justified the strategy of an organisation based upon three business segments.

The company reported revenue of $1.06bn, up eight per cent with bottom-line contributions from all three segments and over 30 per cent growth in global gaming.

Income was $211m and adjusted EBITDA was $402m, reflecting robust global lottery profitability and that strong increase from global gaming.

The group had sale proceeds of €700m from its Italian proximity payments business and had completed the acquisition of iSoftBet, the leading igaming content provider, for €160m.

Said Vince Sadusky (pictured), CEO: “The accomplishments are evidenced in accelerated revenue and profit expansion in the third quarter, achieving the top end of our margin outlook.

“Customer and player demand trends remain encouraging and IGT’s suite of innovative products and solutions has never been better. In addition, we reached the lowest debt leverage in the company’s history, while returning a record $224m in capital to shareholders so far this year.”