Tag Archives: Max Chiara

IGT to switch auditing chiefs as Tim Rishton ends 29-year tenure

SBC News IGT to switch auditing chiefs as Tim Rishton ends 29-year tenure

IGT Plc has announced the forthcoming retirement of Senior Vice President and Chief Accounting Officer (CAO) Tim Rishton. Rishton, who joined IGT in 1995 as a Cost Accounting Manager, will retire from executive duties at the end of 2024, completing 29 years of service for the NYSE technology group. IGT confirmed that Rishton will be succeeded by David Morgan, who …

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IGT stands by $4bn year-end revenue target despite lottery slowdown

IGT

Gaming revenue continued to be the ‘standout performer’ for International Game Technology (IGT Plc) during Q3 trading as the firm’s group-wide revenue remained stable against 2022 comparatives. The NYSE-listed gambling and lottery technology provider reported group-wide revenue for the trading period ending 30 September of $1.06bn, representing no change from Q3 last year. Total adjusted EBITDA rose 8% from $402m …

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IGT raises FY23 guidance as gaming and digital divisions drive Q2 revenue

IGT

International Game Technology’s (IGT) Global Gaming and PlayDigital divisions have driven an impressive quarter for the company, prompting a readjustment of its full year trading projections. The London-based igaming, iLottery and betting solutions developer informed its NYSE investors that total group income for Q2 2023 had risen 3% to $1.06bn (Q2 2022: $1.02bn). This was driven largely by an increase …

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IGT hails weight loss as Q1 beats corporate expectations

SBC News IGT hails weight loss as Q1 beats corporate expectations

IGT Plc has reaffirmed its FY2023 corporate targets with confidence following an impressive start to year trading driven by commercial growth across all core business units.  Publishing its Q1 2023 trading update, the NYSE gambling technology group registered corporate revenues of $1.06bn, up 1% on corresponding 2022 results of $1.05bn. The 1% revenue uplift stands against Q1 FX currency impacts …

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IGT delivers shareholder rewards of $276m despite Global Lottery slowdown

IGT

IGT Plc states that it has achieved its full-year 2022 objectives of returning shareholder growth and reducing its long-term corporate net-debt. The group outlined that total revenue rose by 3% for the full year to $4.3bn (2021: $4bn), and by 4% year-on-year in the final quarter from $1bn to $1.1bn, with both figures driven heavily by Global Gaming and PlayDigital …

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IGT Q1 growth stalled by global lottery pains

SBC News IGT Q1 growth stalled by global lottery pains

IGT Plc has reported financial results for the first quarter ended March 31, 2022, showing overall revenue slightly ahead despite a drop in operating income during the trading period. According to the headline figures, consolidated revenue came in at $1.1bn, up 4% as reported and 7% at constant currency, from $1bn in the prior year. Global Gaming revenue increased 42% …

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$200m Q3 savings leads IGT to raise 2021 forecasts

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

IGT Plc has raised its full-year corporate forecasts in light of peak performance results achieved during Q3 trading. IGT more than doubled its operating income to $212 million (Q32020: $83m) as the NYSE gambling technology group registered +$200 million in from its ‘OPTIMA – structural cost-savings program‘. Period trading saw IGT register group revenues of $984 million, up 21% on …

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IGT backs its trimmed profile as gaming units return to profitability

IGT

IGT Plc has maintained confidence in its 2021 commercial strategy, having reported strong gains in Q2 as its gaming division ‘returns to profitability’. Reporting a yearly increase in revenue of 74% to $1 billion (2020: $600m), the group has also achieved net EBITDA of $442 million (2020: $164m) and operating income of $244 million, a major improvement on the operating …

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IGT records 25% Q1 revenue growth following B2C sale

SBC News IGT records 25% Q1 revenue growth following B2C sale

International Game Technology (IGT) has reported revenue growth of 25% for Q1 2021, attributed to structural cost savings, continued player demand and the sale of its Italian B2C business to Gamenet Group. Overall group revenue rose to $1.01bn (2020: $814m). Although the figure still represents a 11.3% decrease from the $1.14 billion in 2019, the group remains hopeful that it …

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IGT ‘prudent on recovery’ as company absorbs H1 losses of $291m

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

International Game Technology (IGT) cited the ‘intense impact’ of casino and gaming hall closures on its business, as the New York-listed gambling technology group recorded H1 2020 operating losses of $291 million. Absorbing Q2 double-digit declines across its core business segments of lotteries, International, North America and Italy, IGT recorded a 48% decline in revenues, falling from $1.23 billion in …

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