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US – Digital and betting drives IGT up by 21 per cent

By - 12 November 2021

International Game Technology generated consolidated revenue of $984m in its third quarter, up 21 per cent compared to the prior year with global lottery revenue rising 14 per cent to $652m.

Digital & Betting revenue increased 37 per cent to $43m, with double-digit growth across activities, and global gaming revenue of $289m, up from $216m in the prior year and $274m sequentially as market recovery progresses.

“Broad-based momentum across our Lottery, Gaming, and Digital & Betting activities drove significant improvement in key financial and performance metrics in the third quarter,” said Marco Sala, CEO of IGT. “Revenue grew over 20% and operating income more than doubled, highlighting the strength of our portfolio. Based on our excellent year-to-date results and our solid financial condition, the Board reinstated a quarterly cash dividend, signaling their confidence in the Company’s prospects.”

“We are supporting strong top-line growth with strategic investments in the business while still making good progress on optimizing our cost structure,” said Max Chiara, CFO of IGT. “Achieving our goal of  reducing net debt leverage below 4.0x was a big accomplishment in the quarter. We look forward to sharing our strategy, long-term growth initiatives, and capital allocation plans during our upcoming investor day on November 16, 2021.”

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