IGT Post Record Fourth Quarter Results

International Game Technology (IGT) has reported that their first quarter revenues just passed $1 billion which is up 24.7% compared to the same period in 2020 and 14.7% up from the previous fourth quarter of last year.

The company said the first quarter of this year had seen its highest ever revenue and profit levels in the history of IGT, commenting the company said the spectacular rise was due to “outstanding performance” in its global lottery and continued recovery of its gaming business.

Lottery revenues globally for IGT stood at $749 million for the quarter that is 48% up compared to the same period last year and 18.9% up from the previous quarter.

IGT posted a profit of $92 million for the quarter compared to a $248 million loss for the corresponding quarter in 2020.

Marco Sala the Chief Executive of IGT said on the results: “We delivered some of our strongest profit results ever during the first quarter, fueled by robust player demand and significant, structural cost savings.”

He added: “Our global lottery segment achieved record same-store sales levels on impressive increases around the world. The global gaming segment is demonstrating swift, progressive recovery, including accelerated momentum for digital and betting activities. We expect to return to 2019 levels for key financial metrics this year.”