• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 27 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

IGT Grows Q1 Profits Amid Tough Trading

Newsdesk by Newsdesk
Mon 27 Jan 2014 at 01:14
1
SHARES
24
VIEWS
Print Friendly, PDF & Email

International Game Technology reported a 21% increase in corporate profits in the first quarter despite what CEO Patti Hart described as “market challenges” that continue to impact revenues.

Net income for the Reno, Nev.-based slot giant was US$79.2 million for the initial 12 weeks of fiscal 2014, good for 31 cents in earnings per share. But overall revenues were up only 2% to $541.2 million, the smallest increase in the past four quarters.

Revenue from machine sales grew 4% year on year to $243.6 million, of which sales to casinos in the US and Canada increased 7% to $170 million. International sales dipped 3% to $73.6 million. Revenue from operations fell 8% to $223 million.

In a statement, IGT warned investors the company could see reduced profits over the next few quarters if declining gaming revenue trends continue.

“All in, it was a weak quarter and the outlook for the remainder of 2014 appears challenging,” said Las Vegas-based investment analysts Union Gaming Research.

In a note to investors the firm said it expects continued softness in domestic US demand combined with few new openings and new markets to spell fewer new sales opportunities and also will act to depress yields in the gaming operations segment.

“There is a hyper-competitive environment for casino floor space,” the firm said.

Growth in IGT’s interactive segment was the highlight of the quarter, with revenues up 41% to $74.6 million, while social gaming, which includes the company’s popular DoubleDown Casino, increased 57% to $64.8 million. IGT reported more than 1.7 million average daily users for the quarter at DoubleDown, 17% more than in Q1 2013.

 

RelatedPosts

IGT reveals amendments to revolving credit facility and term loan agreements

IGT reports second highest quarter for product sales in its in 4Q24, releases 2025 guidance

Wed 26 Feb 2025 at 04:22
IGT unveils new multi-level progressive game Tiger and Dragon

IGT unveils new multi-level progressive game Tiger and Dragon

Tue 21 May 2024 at 05:49
Slots 2.0

Global Gaming segment drives IGT forward with Adjusted EBITDA up 8% to US$433 million in 3Q23

Wed 1 Nov 2023 at 04:26
IGT slips to 2Q20 loss on 48% global revenue decline

IGT to fully redeem remaining US$118 million in outstanding notes

Sun 29 Oct 2023 at 19:04
Load More
Tags: International Game Technology
ShareShare
Newsdesk

Newsdesk

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Winds of change

Belle Corp’s share in City of Dreams Manila gaming revenue down 18% in 1H25

by Newsdesk
Sat 26 Jul 2025 at 08:39

Philippines real estate firm Belle Corp saw its share in gaming revenue from City of Dreams Manila fall by 18% year-on-year to Php772.3 million (US$13.5 million) in the first half of 2025, reflecting the challenges currently being faced by Manila’s...

DigiPlus to enter South Africa’s online sports betting market

DigiPlus to enter South Africa’s online sports betting market

by Newsdesk
Sat 26 Jul 2025 at 08:37

Philippines gaming technology firm DigiPlus Interactive Corp has announced plans to further expand internationally by entering the South African online sports betting market. The company said in a Friday statement that it would file license applications with the Western Cape...

Uncertain future for POGO industry suppliers as PAGCOR says operations in “status quo” for now

Maybank: Threat of total ban on Philippines online gaming is real, more clarity from President Marcos likely Monday

by Ben Blaschke
Fri 25 Jul 2025 at 12:34

Malaysian investment bank Maybank has warned that the threat of a total ban on the Philippines’ domestic online gaming, or eGames, sector is real given that political noise is similar to before recent bans on eSabong and POGOs. While Maybank...

MGTO says no apparent impact on visitor numbers from limitation on provision of free snacks in Macau casinos

Macau visitor arrivals rise 13.3% year-on-year to 2,891,003 in June

by Pierce Chan
Fri 25 Jul 2025 at 05:45

According to data from Macau’s Statistics and Census Service (DSEC), a total of 2,891,003 visitors arrived in Macau in June, representing a year-on-year increase of 13.3%. Mainland China remained the primary source of visitors to Macau in June, with 1,995,627...

Your browser does not support the video tag.


IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English