IGT rewards its shareholders

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IGT has returned a record $80m to shareholders through a cash dividend and share repurchases for the second consecutive quarter.

The company’s first quarter of the year, ended March 31, saw revenue up four per cent to $1.1bn, driven by higher global product sales, and an operating income of $252m, down slightly on the $260m of last year.

The report revealed that global lottery revenue was down nine per cent at $680m compared with $749m, but gaming was up at $325m ($228m). Digital and betting revenues were $47m compared with $38m.

Lottery operating income was a significant faller at $252m compared with $337m, or 25 per cent. But gaming income was $52m compared with a loss of $26m.

Vince Sadusky (pictured), CEO said: “The quarter’s strong margin profile highlights the long-term recovery of the gaming business as well as increased levels of lottery play from pre-Covid periods.”

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“The quarter marks progress on the profitable growth trajectory outlined at our November 2021 Investor Day,” added Max Chiara, CFO.

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