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US – IGT generates highest ever operating income in 2021

By - 1 March 2022

International Game Technology’s (IGT) full year results outpaced 2021 revenues by 31 per cent, reaching $4.1bn with double-digit growth across all its segments, meeting or exceeding its 2021 financial goals with several key financial metrics above 2019 levels.

The slot giant generated full year operating income of $902m, the highest in company history, on strong Global Lottery operating leverage and company-wide structural cost savings.

Global Lottery produced revenue of $2.8bn, up from $2.2bn, driven by 20 per cent same-store sales growth and including around $165m in benefits from certain discrete items in the first half of 2021

Global Gaming revenue increased by 33 per cent to $1.1bn, as continued recovery drives key performance indicators higher

Digital & Betting revenue increased to $165m, up 44 per cent, propelled by new jurisdictions and customers.

“Our 2021 financial results reflect the best revenue, profit, and cash flow performance in the last four years, meeting or exceeding target levels on strong performance across the portfolio,” said Vince Sadusky, CEO of IGT. “We made important progress on several strategic objectives, and I am excited to be leading IGT in the next chapter of its evolution. We have set aggressive but achievable multi-year goals and we have a focused strategy to maximize value for all stakeholders.”

“Improving leverage to 3.5x a year ahead of schedule enables us to pursue a balanced capital allocation framework that supports investing for growth, continued debt reduction, and the reinstatement of capital returns through quarterly dividends and share repurchases,” said Max Chiara, CFO of IGT. “As we enter 2022, the Company is in a very good place with a solid financial condition and a strong foundation for further growth.”

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