• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 5 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

Global lottery growth helps IGT boost revenues, narrow losses in 3Q20

Newsdesk by Newsdesk
Thu 12 Nov 2020 at 06:21
IGT slips to 2Q20 loss on 48% global revenue decline
47
SHARES
1.2k
VIEWS
Print Friendly, PDF & Email

Global gaming giant International Game Technology recorded a net loss of US$128 million in the three months to 30 September 2020, down from a profit of US$104 million in 3Q19 but vastly improved from a loss of US$280 million in the second quarter.

Publishing its 3Q20 results early Thursday (Asia time), IGT said its US$128 million loss was entirely attributable to foreign exchange losses, mostly non-cash, which totaled US$149 million. Notably, revenue for the quarter, while down 15% year-on-year to US$982 million, was 54.2% higher sequentially driven by a 3% year-on-year increase in global lottery sales to US$570 million – the strongest growth in seven quarters.

Global gaming revenue fell 31% year-on-year to US$412 million.

Adjusted EBITDA fell 13% year-on-year to US$354 million, up from US$168 million in the second quarter as the industry continues to recover from the COVID-19 pandemic.

“Robust cash flow generation during the quarter and year-to-date periods have enabled us to improve our liquidity and reduce net debt,” said IGT’s Chief Financial Officer Max Chiara, after the company reduced its net debt by US$46 million to US$7.24 billion.

“We are on track to achieve our 2020 temporary cost-reduction targets and have identified a number of initiatives that will enable us to deliver over US$200 million of structural savings over the next two years. As a result, the improvement in our profitability should support our continued focus on reducing debt.”

IGT CEO Marco Sala said the release of new games, systems and digital solutions led to a “sharp, sequential improvement in our most important markets.

“We continue to monitor the evolution and impact of the pandemic around the world. With a simplified organization firmly in place, we are creating a leaner, stronger IGT,” Sala said.

RelatedPosts

Jeju Dream Tower casino sales down 7.4% in March

South Korea’s foreigner-only casinos showing renewed vigor as Jeju Dream Tower sets new monthly drop, visitor records

Thu 3 Jul 2025 at 05:41
Abbiati targeting North and South American markets via strategic alliance with Hawkins Holdings

Abbiati targeting North and South American markets via strategic alliance with Hawkins Holdings

Wed 2 Jul 2025 at 09:39
Apollo completes acquisition of IGT gaming and digital businesses and Everi, new entity to trade under IGT name

Apollo completes acquisition of IGT gaming and digital businesses and Everi, new entity to trade under IGT name

Wed 2 Jul 2025 at 06:28
Aristocrat Gaming awarded license to develop MONOPOLY slot games globally

Aristocrat Gaming awarded license to develop MONOPOLY slot games globally

Wed 2 Jul 2025 at 06:21
Load More
Tags: casinoEuropeGamingIGTInternational Game TechnologylotteryMarco SalaMax Chiaraslot machines
Share19Share3
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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

Macau planning to ban all forms of advertising for gambling activities

Macau planning to ban all forms of advertising for gambling activities

by Pierce Chan
Fri 4 Jul 2025 at 15:04

The Macao SAR Government is planning to amend advertising laws and regulations, proposing a ban on all forms of advertising for gambling activities – including the display of gambling equipment in advertisements. Macau’s Economic and Technology Development Bureau stated on...

Wynn Al Marjan Island releases first renderings of uber-luxury Enclave suite and apartment offering

Wynn Al Marjan Island releases first renderings of uber-luxury Enclave suite and apartment offering

by Ben Blaschke
Fri 4 Jul 2025 at 05:59

Wynn Resorts has released first images of its elite suite and apartment offering at Wynn Al Marjan Island, to be known as Enclave and located on the uppermost levels of the UAE integrated resort. According to information published overnight, the...

The 2024 Asian Gaming Power 50

Bally’s ready to pull out of Star rescue deal if AUSTRAC issues monster fine

by Ben Blaschke
Fri 4 Jul 2025 at 05:37

US casino operator Bally’s Corp may have to withdraw from its multi-million-dollar rescue of Star Entertainment Group should the embattled Australian firm be hit with a massive fine by AML watchdog AUSTRAC. Bally’s chairman Soo Kim made the revelation –...

Grand Korea Leisure books US$11.4 million profit in 1Q25 on higher casino sales, better margins

Grand Korea Leisure reports sequential gain but year-on-year decline in casino revenue to US$25.5 million

by Newsdesk
Fri 4 Jul 2025 at 04:52

Foreigner-only casino operator Grand Korea Leisure (GKL) reported casino revenue of KRW34.8 billion (US$25.5 million) in June, representing a 13.6% increase over May although down 6.0% compared with the same month last year. The sequential increase follows a similar trend...



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