{"id":278,"date":"2024-06-28T18:08:39","date_gmt":"2024-06-28T15:08:39","guid":{"rendered":"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/"},"modified":"2024-06-28T18:08:39","modified_gmt":"2024-06-28T15:08:39","slug":"igt-reports-strong-first-quarter-earnings","status":"publish","type":"post","link":"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/","title":{"rendered":"IGT Reports Strong First Quarter Earnings"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/JoU8ZloajbA\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Global gaming technology giant, International Game Technology (IGT), has unveiled its financial performance for the initial three months of 2023. The company reported earnings of $1.06 billion, a modest 0.8% rise from the corresponding period in the previous year.<\/p>\n<p>IGT&#8217;s chief executive, Vince Sadusky, expressed satisfaction with the results, stating that they surpassed expectations and reinforced the company&#8217;s full-year projections.<\/p>\n<p>Sadusky attributed the positive performance to the strong contributions of IGT&#8217;s Global Lottery, Global Gaming, and PlayDigital divisions.<\/p>\n<p>Despite a decrease of 8.2% in Global Lottery revenue, reaching $624 million, the Global Gaming and PlayDigital segments witnessed significant growth, registering increases of 17.2% and 17.0%, respectively.<\/p>\n<p>Sadusky emphasized the role of innovation and sustained customer demand in driving momentum across these segments.<\/p>\n<p>The company attributed the decline in Global Lottery revenue to the divestment of its Italian commercial services business.<\/p>\n<p>The Global Gaming segment generated revenue of $381 million, while PlayDigital revenue surpassed $55 million.<\/p>\n<p>Geographically, revenue in the United States and Canada reached $666 million, reflecting an increase of 11.4%, while revenue in Italy experienced a decline of 18.4%. <\/p>\n<p>Earnings from services constituted a substantial part of the quarter&#8217;s income, reaching $846 million, while product sales comprised the remaining $215 million.<\/p>\n<p>Service-related expenditures decreased by 7.0% during the quarter, reaching $398 million. Sales and research and development (R&#038;D) costs reached $217 million, a decrease of 12.4%, while the cost of goods sold for products was $127 million, an increase of $5 million from the previous year.<\/p>\n<p>R&#038;D expenses also rose by $5 million, reaching $62 million.<\/p>\n<p>In general, operational expenses reached $805 million, an increase of 0.7%, leading to an operating profit of $255 million, a slight increase of $3 million.<\/p>\n<p>Total non-operating expenses, including interest expense, foreign exchange losses, and other non-operating costs, amounted to $101 million, an increase of 44.3%.<\/p>\n<p>Income before taxes was $155 million. After deducting income taxes of $87 million, net income for the quarter reached $67 million, an increase of 42.7% compared to the same period last year.<\/p>\n<p>Adjusted EBITDA was $449 million, an increase of 3.7%.<\/p>\n<p>Outlook for the Second Quarter<\/p>\n<p>IGT has provided guidance for the second quarter of 2023, forecasting revenue of $1 billion and an operating margin of 22%-24%.<\/p>\n<p>Full-year revenue is anticipated to be between $4.1 billion and $4.3 billion, with cash flow from operating activities expected to be between $900 million and $1 billion.<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global gaming technology giant, International Game Technology (IGT), has unveiled its financial performance for the initial three months of 2023. The company reported earnings of $1.06 billion, a modest 0.8% rise from the corresponding period in the previous year. IGT&#8217;s chief executive, Vince Sadusky, expressed satisfaction with the results, stating that they surpassed expectations and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IGT Reports Strong Q1 2023 Earnings<\/title>\n<meta name=\"description\" content=\"International Game Technology (IGT) exceeded expectations with $1.06 billion in Q1 earnings, a slight increase from last year.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"IGT Reports Strong First Quarter Earnings\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"International Game Technology (IGT) exceeded expectations with $1.06 billion in Q1 earnings, a slight increase from last year.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Immerse Yourself in the Thrill of Licensed Online Casino Games\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T15:08:39+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/\",\"url\":\"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/\",\"name\":\"IGT Reports Strong Q1 2023 Earnings\",\"isPartOf\":{\"@id\":\"https:\/\/vegasgemsnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-28T15:08:39+00:00\",\"dateModified\":\"2024-06-28T15:08:39+00:00\",\"author\":{\"@id\":\"https:\/\/vegasgemsnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"International Game Technology (IGT) exceeded expectations with $1.06 billion in Q1 earnings, a slight increase from last year.\",\"breadcrumb\":{\"@id\":\"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/vegasgemsnodepositbonus.icu\/2024\/06\/28\/igt-reports-strong-first-quarter-earnings\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/vegasgemsnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IGT Reports Strong First Quarter Earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/vegasgemsnodepositbonus.icu\/#website\",\"url\":\"https:\/\/vegasgemsnodepositbonus.icu\/\",\"name\":\"Immerse Yourself in the Thrill of Licensed Online Casino Games\",\"description\":\"Stay informed and elevate your gambling experience through our fresh casino news, in-depth game reviews, and informative insights. 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