IGT Gaming & Betting Sector Boosts Growth In Q3 FY22

Revenue from continued operations of global game consoles, lottery, sports betting and iGaming giant International Game Technology (IGT) rose 191% year-on-year to $294 million at the end of the third quarter, the company reported earlier today.

According to IGT, the company saw the highest gains in the global gaming and digital & betting sectors, but capitalized higher exchange rates and reduced income and debt costs over the observed period.

The Company’s consolidated revenue was $1.06 billion at the end of the third quarter of 2022, up 8% from the same period in 2021. The company’s largest global lottery unit saw consolidated revenue achieved by the organization rise 4% in Q3 from Q2 FY22, despite a 4% drop in revenue to $626 million.

“Machine shipments, average selling prices, installation-based returns, intellectual property rights and multi-year poker site licenses have increased significantly, leading to a 31% increase in revenue for the global gaming segment to reach the $379 million level.

The Las Vegas-based company said its acquisitions of iCasino and iSoftBet, expansion in North America and organic growth contributed to the success of its digital & betting operations, resulting in a 27% year-over-year increase in revenue to US$54 million. 온라인경마

Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) held steady at $402 million in the third quarter, while net debt fell 17% to $5.08 billion.

Vince Sadusky, CEO of IGT, said. “With IGT building an organization across three business segments, teams can focus on developing and delivering best-in-class products and services.”

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