International edition
September 30, 2020

For the nine months to June 30, income stood at us$ 189.3 million

IGT makes staff cuts

(US).- According to reports this week, the slots company cut another 13 employees worldwide, including some from its Reno headquarters. "As IGT continues to respond to the needs of the industry, the natural course of business is to seek talent that addresses our company objectives," said Shelle Murach of IGT.

M

urach added: "As such, the elimination of some specific roles in our company is a response to the evolving requirements of our business."

In July, the company revealed income from continuing operations for the third quarter to June 30, 2010, was us$ 94.6 million, compared with us$ 62.2 million in the same quarter last year. For the nine months to June 30, income stood at us$ 189.3 million, up from us$ 159.6 million for the first nine months of last year.

Consolidated revenues for the third quarter were us$ 489.7 million, of which 56 % was generated from gaming operations and 44 % from product sales, compared with us$ 517.3 million for the same quarter last year. For the nine-month period, consolidated revenues were us$ 1.5 billion, down from us$ 1.6 billion in the same period last year. Consolidated gross profit and operating income for the third quarter were us$ 275.9 million and us$ 120.2 million, respectively, down from us$ 295.8 million and us$ 127 million in the previous year.

"Our third quarter results reflect meaningful progress at IGT," the company's CEO, Patti Hart, said. "Despite challenges in the broader marketplace, we continue to manage our business to increasing levels of efficiencies. Our efforts have resulted in the generation of significant cash flow for reinvestment into the business in areas that create innovative and customer-centric products and services."

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