Aug 08, 2019 Newsdesk Industry Talk, Latest News  
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.
May 31, 2023
May 30, 2023
Jun 02, 2023
Jun 02, 2023
Jun 02, 2023
Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
US$8.1 billion
Macau’s casino gross gaming revenue in the five months to May 31