Growth in its North American and Italian gambling divisions have helped New York-listed gambling and lottery technology provider IGT post a 48% increase in operating revenues of $171 million for Q2 2016 (Q2 2015: $116 million).
IGT governance were pleased to close another ‘solid’ quarter, reporting that the company had sustained its global revenues at $1.28 billion for the period.
Detailing corporate highlights, IGT governance informed that its North American Lottery division had recorded a 31% increase in operating income of $62 million.
US lottery growth would be supported by the continued growth of its Italian gambling divisions which would post a 14% uplift in operating income to $141 million.
IGT governance would detail that its improved performances in Italy and the US, reflected the company’s strong product mix and effective operations.
Following two successive quarters of growth, IGT governance informed the market that its confident of hitting 2016 targets with the company forecasting a 2016 EBITDA of $1,740-1,790 million
Commenting on Q2 2016 performance, Marco Sala CEO of IGT stated
“Robust growth in our global lottery operations, notably in Italy and North America, and the resilience of our global gaming business are the key takeaways from our second quarter results,”
“Service revenues, which account for the bulk of our business and are mostly supported by long-term contracts, rose a solid 6% at constant currency in the period. We are making good progress implementing our strategy of developing innovative content and technology that we can leverage across gaming platforms and around the world. We look forward to showcasing the full scope of our new gaming and lottery offerings at high-profile trade shows later this fall.”