IGT raises full-year expectations after Q2 report

IGT has raised its full-year revenue expectations to between US$4.2bn and $4.3bn after its Q2 highlights included consolidated revenue rising three per cent to $1.06bn.

Global gaming revenue was up 13 per cent year-on-year to $373m, while PlayDigital revenue jumped 38 per cent to $59m, which IGT said was driven by “strong player demand trends” and contributions from the acquisition of iSoftBet.

Operating income of $251m translated to a 10 per cent increase from Q2 last year, with the operating income margin expanding 150 basis points to 24 per cent.

Adjusted EBITDA was reported at $443m versus $409m in the prior-year period.

Vince Sadusky, CEO of IGT, said: “Our second quarter and first-half results reflect solid revenue and profit momentum across all business segments.

“We achieved the high end of our outlook by executing key strategic initiatives and growing demand for IGT’s compelling content and solutions. We are solidly on track to deliver on our 2025 objectives and remain focused on unlocking the intrinsic value of IGT’s market-leading businesses.”