• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

IGT 3Q EBITDA down 8pct despite strong gaming sales

Nov 15, 2019 Newsdesk Industry Talk, Latest News, Top of the deck  


IGT 3Q EBITDA down 8pct despite strong gaming sales

Gaming and lottery services and products provider International Game Technology Plc (IGT) said on Thursday that its consolidated revenue was flat in year-on-year terms, at slightly above US$1.15 billion in the third quarter of 2019. At constant currency, third-quarter revenue would have increased by 3.0 percent, “on significant growth in global gaming product sales,” said the company.

IGT reported operating income of US$153.9 million for the three months ended September 30, down 23.1 percent from the prior-year quarter.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were US$407.1 million, down 8.2 percent in year-on-year terms.

Net income attributable to IGT was nearly US$103.6 million in the July-September period, compared to US$22.3 million in the prior-year period. The group declared an interim cash dividend of US$0.20 per share on its ordinary shares. The dividend is payable on December 13, to holders of record as of the close of business on November 29.

“Our core businesses achieved significant momentum in the third quarter and year-to-date periods,” said Marco Sala, chief executive of IGT, in a prepared statement included in Thursday’s release.

He added: “Key performance indicators were solid in the quarter – gaming machine unit shipments increased 44 percent, while same-store revenue for draw games and instants rose 4 percent. Our leading positions are rooted in our focus on player-driven performance, which was on display at recent lottery and gaming trade shows and should sustain our momentum going forward.”

IGT’s net debt stood at approximately US$7.35 billion at the end of the third quarter, compared to nearly US$7.57 billion a year earlier.

Alberto Fornaro, IGT’s chief financial officer, was also quoted in the release as saying that IGT had generated free cash flow “in excess of US$450 million” in the first nine months of 2019. “This confirms the inflection we expected to achieve this year. We are well positioned to achieve our 2019 strategic and financial goals,” stated Mr Fornaro.

IGT said that total gaming revenue from international markets – i.e. excluding North America and Italy – rose by 27 percent year-on-year on a fixed exchange rate to US$118 million in the three months ended September 30. Gaming service revenue was US$27 million, down 12 percent at constant currency, while gaming product sales revenue stood at US$91 million, up 46 percent from the prior-year period.

The company said it had a “broad-based geographic demand” for gaming products in the third quarter. The group shipped 5,244 gaming machine units to international markets during the reporting period, up 63.4 percent compared to 3,210 units a year earlier.

“It was a strong quarter for our global gaming business. Unit sales of gaming machines were 44-percent greater than the prior year period, driven by a 62 percent increase in replacement units,” said IGT’s Mr Sala on a conference call with analysts.

He added: “North America replacement units rose 38 percent … International replacement units increased nearly 90 percent, benefiting from large Sweden VLT (video lottery terminals) shipments in the period. Commercial gaming replacements were up double digits, with demand well balanced between CrystalCurve and Crystal 27 cabinets.”


  • tweet
Related articles
  • GEN Malaysia 3Q profit at US$38mln, revenue up 10pct q-o-q
    GEN Malaysia 3Q profit at US$38mln,...

    Nov 23, 2023  

  • L&W EBITDA leverage could ease to 3.7x in 2023: Fitch
    L&W EBITDA leverage could ease to...

    Nov 22, 2023  

More news
  • Welcome mat, pricey hotels drag Macau MICE: sector
    Welcome mat, pricey hotels drag Macau...

    Dec 01, 2023  

  • Kangwon Land Inc CEO Lee Sam-Geol resigns: reports
    Kangwon Land Inc CEO Lee Sam-Geol...

    Dec 01, 2023  


Latest News

Welcome mat, pricey hotels drag Macau MICE: sector

Welcome mat, pricey hotels drag Macau MICE: sector

Dec 01, 2023  

Fresh event space in casino resorts is welcomed by Macau’s meetings, incentives, conferences and exhibitions (MICE) sector, but visitors’ reception on arrival in the city, high hotel prices, and...
Read More
Kangwon Land Inc CEO Lee Sam-Geol resigns: reports

Kangwon Land Inc CEO Lee Sam-Geol resigns: reports

Dec 01, 2023  

Paradise Co Nov casino rev top US$43mln, down sequentially

Paradise Co Nov casino rev top US$43mln, down sequentially

Dec 01, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We committed to the government to provide a full business idea and plan for Phase 1b around 12 months after the casino opens, therefore, probably early 2025”

Chen Si

President of the Mohegan Inspire Entertainment Resort in South Korea



Most Popular

  • Macau November GGR down 18pct on October: govtMacau November GGR down 18pct on October: govt December 1, 2023
  • Welcome mat, pricey hotels drag Macau MICE: sectorWelcome mat, pricey hotels drag Macau MICE: sector December 1, 2023
  • Mohegan Inspire still eyes 1Q24 casino debut: presidentMohegan Inspire still eyes 1Q24 casino debut: president December 1, 2023
  • Kangwon Land Inc CEO Lee Sam-Geol resigns: reportsKangwon Land Inc CEO Lee Sam-Geol resigns: reports December 1, 2023
  • Inspire Arena leads Mohegan debut in Asia gaming resort bizInspire Arena leads Mohegan debut in Asia gaming resort biz November 30, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us