Growth in Figures
The Global Lottery recorded a 35% growth in sales to reach the $25 million mark. According to Marco, this is the second-highest revenue realised in this portfolio in the company’s history. He attributed it to the rising demand for the service among the gaming population.
Digital and Betting portfolio went up by 41%, thanks to the increase in remote gaming activities. Although the pandemic hit hard, there was a gradual recovery, especially on land-based gaming.
On the backdrop of the pandemic, the revised EBITDA growth signalled the company’s resolve to harmonise its operations and return to profitability. Rising to 170%, it is one of the highest in a quarter in the company’s history.
Overall, the growth represents an increase in revenue by 74% for gaming software provider IGT, which is now over $1 billion. It marks the return to profitability of the gaming giant. The Net income stood at $365 million, including a $39 million loss from discontinued operations. IGT also earned $500 million in cash from its other businesses.
According to Max Chiara, IGT’s CFO, the performance was better than expected, surpassing the pre-pandemic targets ahead of expectations. From the payments made during the quarter, IGT’s credit profile improved, boosting the company’s financial conditions.
IGT Financial Basics
IGT operating income stood at $244 million in the second quarter. Considering the numbers recorded, the annual growth will surpass the 2019 financial metrics by a considerable margin.
The company also sold some assets from their discontinued operations, which reduced the debts significantly. It also streamlined its costs across its businesses, which saved the company money in Q2.
As the company rolls into the next half, it expects $2.0 billion in revenue and $300 operating income from its businesses. It will be a significant financial growth, comparing to the previous years.
Top 3 Casinos of the month
Excellent welcome bonus offer
Client- and instant-based ways for playing
Huge selection of products
Slick live casino design
88 Free spins No Deposit on Registration plus 100% up to £100 Bonus on your first deposit
#ad • No Deposit Offer: New players with valid mobile number only • Claim in 48 hrs • 14 day expiry • Valid for selected games • Pre-1st deposit only: Bonus wins & max redeemable amount capped at £100, excl. JP wins • Wager Bonus x1 - req. contributions vary by game • Bonus expires in 90 days • Deposit Offer: 1st time depositor at 888casino only • £20 min deposit • Claim in 48 hrs • Valid for selected games • Bonus wins capped at £500, excl. JP wins • Pre-1st deposit only: Bonus wins & max redeemable amount capped at £100, excl. JP wins • 30x wagering – req. vary by game • Bonus expires in 90 days • Payment method & country restrictions apply • Withdrawal terms, No Deposit Offer terms
& Deposit Bonus Offer terms
Top of the line software providers
Over 1000 very diverse slots
Fantastic mobile version
Can withdraw with PayPal
Get 100 Free Spins when you join & up to 200 more
New casino players only. No deposit bonus is subject to account verification. Min. deposit £10 with code ‘FIRST200’. Debit card (Visa or Mastercard) only. Valid on selected games. 7 day expiry. All spins must be used before withdrawal allowed. Terms apply.
No software download required
Voted Online Casino of the Year for three years running
Attractive bonus offer and progressive jackpots
Get 50 Free Spins When You Sign Up and 100% Deposit match up to £100 Bonus + 100 Free Spins
18+. Play Safe. New UK customers only. Opt in required. 1x per customer. Min. £10 deposit. 1st deposit only. Selected games only. Max. Bonus £100 with 15x wagering and 100 Free Spins at £0.20/spin on Lucky Mr Green with 15x Wagering. Free Spins and Bonus credited once deposit amount has been wagered on slots. Bonus and Free Spins expire 7 days after issue. Game weighting, game, country, currency, player restrictions and terms apply.