Union Gaming has reduced its forecast of the 2019 earnings of International Game Technology PLC, a U.S. maker of gaming equipment.
Union Gaming issued on Wednesday a note saying it now forecast for IGT adjusted earnings before interest, taxation, depreciation and amortisation of almost US$1.70 billion, having forecast before adjusted EBITDA of nearly US$1.72 billion.
The note remarks that currency fluctuations made IGT reduce its own forecast of adjusted EBITDA in 2019 to somewhere between US$1.68 billion and US$1.74 billion, having forecast before adjusted EBITDA in the range of about US$1.70 billion to about US$1.76 billion.
“The company did not change any of its operating assumptions,” the Union Gaming note said.
“The company highlighted that each US$0.01 of foreign exchange impacts EBITDA by roughly US$9 million and net debt by US$35 million. Given the pull-forward of some sales activity to the second quarter of 2019 from the second half of 2019, management indicated overall EBITDA would be slightly more weighted to the first half of 2019 versus the second half of 2019 previously.”
The note said Union Gaming had changed its forecast of IGT adjusted EBITDA in 2019 accordingly.
Sep 25, 2020Australian casino operator Crown Resorts Ltd said in a Friday filing that it had suspended “all activity” with external gaming-junket partners, with effect until June 30, 2021. The company told...
Sep 25, 2020
”It will take many years, possibly three… to five years for… international visitor arrivals to return to 2019 pre-Covid-19 levels”
Chief executive of Singapore Tourism Board