Game and lottery provider International Game Technology Plc (IGT) reported third-quarter revenue growth of 7.7% year-on-year to $1.06 billion

The figure represents a 3.9% increase over the second quarter of 2022.

The company said in a press release that its third-quarter revenue growth helped IGT’s global gaming segment grow more than 30% year-over-year.

IGT reported a net profit of $264 million in the third quarter, up more than 300% year-over-year.

Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) decreased 1.2% Y/Y to $422 million.

The company declared a quarterly cash dividend of $0.20 per share on December 9.

IGT completed its acquisition of IsoftBet in July for about 160 million euros ($161.3 million) in cash. The company also wrapped up the sale of its Italian close-to-payments and commercial services business in September, generating a combined revenue of 700 million euros.

IGT said global game sales rose 31.1% year-on-year to $379 million in the three months to Sept. The rise was in “mechanical shipments, average selling prices, installed base returns, intellectual property and a significant increase in multi-year poker site licenses,” it said.

The company sold 8,965 game consoles during the reporting period, up from 5,701 units in the previous quarter. This included 1,005 new units and 7,960 replacement units. In the third quarter of 2022, the total number of machines sold outside of North America increased 48.2% to 2,558.

Revenue from the digital and betting sectors was $54 million, up 25.6% year-over-year. IGT reported revenue of $626 million in the lottery segment, down 4.0% year-over-year.

Tuesday’s announcement quoted IGT chief executive Vince Sadusky as saying that “sales and profit expansion accelerated in the third quarter,” helping to meet margin expectations at a 20% operating margin. 경마사이트

“With a record $224 million in capital returned to shareholders so far this year, we have reached the lowest debt leverage in the company’s history,” he added. The latter was made through dividends and share repurchases by mid-October, the IGT’s “record level” in the fiscal year, according to the company.

IGT SAYS IT HAS POSITIVE FREE CASH FLOW OF $163 MILLION IN Q3. The company’s net debt position was slightly below $5.08 billion as of Sept. 30, down from a net debt of $5.92 billion recorded at the end of December. achieved a net debt leverage ratio of 3.1 times.

“The group’s strong cash flow and revenue from the sale of its Italian close settlement/commercial services business allowed [the company] to reduce its debt to an all-time low, in addition to pre-responsibility management,” IGT chief financial officer Max Chiara said.

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