IGT second quarter revenue tops $1billion 

Finance News

IGT had delivered strong Q2’23 financial performance with revenue and operating income margin meeting high end of outlook range.

Revenue of $1.06 billion increased 3% as reported, 11% net of Italy commercial services sale, driven by strong key performance indicators and player demand trends .Operating income rose 10% to $251 million; 24% operating income margin up 150 basis points on margin expansion across segments.

“Our second-quarter and first-half results reflect solid revenue and profit momentum across all business segments,” said Vince Sadusky, CEO of IGT. “We achieved the high end of our outlook by executing key strategic initiatives and growing demand for IGT’s compelling content and solutions. We are solidly on track to deliver on our 2025 objectives and remain focused on unlocking the intrinsic value of IGT’s market-leading businesses.”

“Our year-to-date performance showcases the strong cash generation of the business. We have a solid foundation to build from as we continue to invest in our growth objectives, further reduce debt, and return capital to shareholders,” said Max Chiara, CFO of IGT. “Based on our first-half results, we are confidently raising our full-year 2023 revenue and operating margin outlook.”