• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 31 May 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 reports subdued 3Q24 results in first quarter excluding Gaming & Digital business

Newsdesk by Newsdesk
Wed 13 Nov 2024 at 04:51
IGT reveals amendments to revolving credit facility and term loan agreements
6
SHARES
157
VIEWS
Print Friendly, PDF & Email

Global lottery supplier IGT reported revenue of US$587 million in the third quarter of 2024, down 2% year-on-year in the first reporting period in which the results of its Gaming & Digital business has been classified as discontinued operations.

The sale of the Gaming & Digital business to funds managed by affiliates of Apollo Global Management was unveiled in July in a deal that is expected to officially close in 2025.

With IGT now a lottery-only supplier, the company reported a subdued 3Q24 performance with the year-on-year operating income of continuing operations down 33% to US$110 million and Adjusted EBITDA down 6% to US$264 million. Gross profit of US$263 million was down from US$278 million in 3Q23.

IGT said it had enjoyed last year a better profit flow-through from US multi-state jackpot activity, as well as stronger terminal sales and more favorable product mix.

“Our third-quarter and year-to-date performance underscores the strength and resilience of our business model marked by our scale, attractive margin structure and strong cash generation,” IGT CEO Vince Sadusky.

“Over the first nine months, we generated US$1.9 billion in revenue, led by steady Italy growth and improved third quarter trends in the US. We are excited to build upon a solid foundation as we transform into a leaner, more focused global lottery pure play and capitalize on attractive industry dynamics.”

IGT is forecasting revenue of between US$640 million and US$690 million, and Adjusted EBITDA of between US$280 million and US$300 million for the fourth quarter. For FY24, revenue is expected to come in at US$2.50 billion to US$2.55 billion with Adjusted EBITDA of up to US$1.18 billion.

RelatedPosts

Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

Fri 30 May 2025 at 05:23
Scientific Games among two new lottery suppliers granted UAE vendor licenses

Scientific Games among two new lottery suppliers granted UAE vendor licenses

Wed 28 May 2025 at 06:06
SABA Sports to exhibit at SBC Summit 2025 in Lisbon

SABA Sports to exhibit at SBC Summit 2025 in Lisbon

Tue 27 May 2025 at 11:35
Spintec’s Charisma cabinet line, new products make splash at ICE Barcelona

Report claims Blackstone looking to sell ICE Barcelona organizer Clarion Events

Fri 23 May 2025 at 05:35
Load More
Tags: EuropeIGTlotteryrevenueVince Sadusky
Share2Share
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 – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...

Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

by Ben Blaschke
Fri 30 May 2025 at 05:23

Genting Malaysia reported a 6% decline in group-wide revenue to MYR2.60 billion (US$613 million) in the three months to 31 March 2025, including a 7% drop in revenue at flagship Malaysian property Resorts World Genting (RWG) to MYR1.62 billion (US$382...

Macau’s hotel occupancy rate reaches 89% in July

Macau’s hotel occupancy rate climbed to 87.8% in April

by Pierce Chan
Thu 29 May 2025 at 17:27

Macau’s average hotel occupancy rate rose by 4.7 percentage points year-on-year to 87.8% in April, with the number of guests increasing by 3.4% to 1.2 million. According to data from the Statistics and Census Service (DSEC), there were 147 hotel...



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