The company said during a Q1 results call that during the first quarter revenues were down by 18% to $940 million as casinos were closed around the world. IGT said its operating loss was $197 million compared to a profit of $178 million in Q1 of 2019. The company also reported adjusted EBITDA of $309 million, down 26 percent from 2019.
IGT had to take drastic measures to ensure the supplier was on a good footing once the pandemic passed and so CFO Max Chiara said that the firm had a to cap salaries and reduce those on higher levels along with furloughing staff and hiring freezes.
It also said that costs were saved by cutting marketing, outside services and travel. IGT says that they are confident of surviving this pandemic with liquidity of $2.2 billion available to them.
FeedConstruct, the global sports data and streaming provider, and the World Baseball Softball Confederation (WBSC),…
Bally's Chicago has halted construction on its hotel and entertainment complex, the project freeze stems…
New York sports betting achieved unprecedented revenue figures in July, sports betting gamblers experienced significant…
FeedConstruct has officially partnered with the Malta Premier League to secure the competition's global betting…
Tabcorp Holdings has announced on Monday that it will acquire BetMakers Techology Group, the B2B…
DraftKings revenue fell 5% year-on-year to $1.44 billion in the second quarter, missing Wall Street's…