According to the financial results for the period ended June 30

IGT sees significant growth in Q2 sales

"We had a strong second quarter, with top-line growth driven by a sharp increase in gaming product sales and impressive gains in global lottery same-store revenues," said Marco Sala, CEO of IGT.
2019-08-02
Reading time 1:06 min
During this period, the company’s revenue increased 5% at constant currency on significant growth in global gaming product sales and continued strength in global lottery same-store revenue.

International Game Technology reported Thursday financial results for the second quarter ended June 30, 2019. Management also hosted a conference call and webcast to present the results.

"We had a strong second quarter, with top-line growth driven by a sharp increase in gaming product sales and impressive gains in global lottery same-store revenues. Profits were up nicely in our North America Gaming and Italy segments," said Marco Sala, CEO of IGT. "I am pleased with the broad-based improvement in key performance indicators for our main businesses."

Highlights for the second quarter 2019 included:

  • Revenue increased 5% at constant currency on significant growth in global gaming product sales and continued strength in global lottery same-store revenue
  • Operating income of $224 million; adjusted operating income of $274 million, up 6% at constant currency
  • Adjusted EBITDA of $454 million, up 5% at constant currency, driven by higher North America Gaming and Italy profits
  • Year-to-date operating cash flow of $592 million and free cash flow of $361 million, record first-half levels
  • Cash dividend declared of $0.20 per ordinary share

"EBITDA in the quarter was the highest we achieved in three years and translated into substantial free cash flow for the first half," said Alberto Fornaro, CFO of IGT. "Recent capital markets activity strengthens our financial structure, enhances flexibility, and positions us well for the coming years."

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