Casino equipmen

Casino equipment maker and digital game content provider International Game Technology Plc (IGT) posted first-quarter revenue of $1.06 billion, up 0.9% from a year ago

The company said in a press release on Tuesday that its adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) for the period were $449 million, up 3.7% from the first quarter of 2022.

SAYS GROUP'S 42.3% ADJUSTED EBITDA MARGIN IN FIRST THREE MONTHS OF 2023 IS "ONE OF THE HIGHEST LEVELS IN COMPANY'S HISTORY" Adjusted EBITDA margin was 41.2% in the previous year.

IGT reported a shareholder-attributed net profit of $23 million in the three months to March 31, compared with a profit of $79 million a year ago.

The company's board of directors announced on June 8 that it would pay a quarterly cash dividend of $0.20 per share of common stock.

The group's first-quarter global game revenue was $389 million, up 21.2% from a year earlier. It attributed it to "strong double-digit growth across service and product sales revenue sources."

Revenue from the gaming segment increased 17.2% Y/Y to $381 million. The segment generated $69 million in operating revenue, up 32.7% year-over-year. 파칭코

"Demand for strong products drove double-digit growth in both service and product sales revenue sources, with record first-quarter unit shipments and average sales prices, installed base growth and higher yields," IGT said. The gaming sector also showed "strong installation-based productivity and operational leverage on less cost structures."

IGT said it sold 8,272 game consoles worldwide in the first three months of 2023, up 15.3% from a year earlier. This included 1,012 new products and 7,260 replacements.

Revenue from the digital and betting sectors was $55 million, up from $47 million a year earlier. IGT posted revenue of $624 million in the lottery segment, down from $680 million a year earlier, "due to the sale of its Italian commercial services business."

"First-quarter earnings beat expectations and are on a solid track to meet our full-year outlook," IGT chief executive Vince Sadusky said in a statement.

"Strong innovation and continued strength in customer and player demand are driving momentum across the global lottery, global gaming and play digital sectors," he added. "We believe that intensive implementation of the strategy will create significant value as we move towards our 2025 goals."

IGT reduced its net debt to $5.12 billion as of March 31, from $5.15 billion at the end of December.

"A strong start to the year involves significant cash flow generation and further improvements in the credit profile," said Max Chiara, the group's chief financial officer. "The continued improvement in net debt leverage reinforces our belief to achieve a lower level of 2.5 to 3.5 times the target range by 2025."