SBC News Voice of the Sports Betting Industry
US gambling technology provider International Game Technology (IGT), reported its Q1 2015 earnings report (3 months ending 31 December), as the operator recorded a 17% revenue decline to $450.6 million (2013 – 541.2 million )
IGT senior management stated that the decline in revenues was attributed to decreasing sales of products and content for its land based casino division.
The decline in its revenue performance would translate to a decreasing operating income $63.5 million (2013 – $79 million) and a 56% decrease in net income $35 million (2013 – $79 million).
Despite reporting declining performance in its land based operations, IGT was able to post improved performance for its interactive and social gambling divisions. The company recorded that IGT Interactive services had seen a 23% revenue up lift to $12.1 million during the period (2013 – $9.6 million)
IGT’s social casino division Double Down saw improved revenues of $91.5 million for the period up 23% on 2013 -$74.6 million. Performance was driven by increased active daily users and better retention led activities to its customer base, which saw Double Down decrease its monthly users but improve their overall player value.
IGT is currently a +$6 billion acquisition target of gambling and lottery technology provider GTECH SpA. IGT shareholders are set to vote on the merger and acquisition of the company on 10 February in Nevada.
IGT governance did not comment on the company potential 2015 financial performance.
IGT Q1 Performance Overview
