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IGT ups 2021 guidance after revenue grows to $1.04bn in Q2

| By Daniel O'Boyle
Gaming and lotteries supplier International Game Technology (IGT) upped its revenue and operating profit guidance for 2021 after Q2 revenue grew 73.5% to $1.04bn, while the sale of Lottomatica helped the business return to profitability.

Of the supplier’s two business segments, its global lottery business made up most of its revenue, growing 58.1% to $725m. 

Of this total, $702m came from services, up 60.4%, with this mostly made up of operating and facilities management contracts. The remaining $23m of lottery revenue came from product sales, a 6.0% increase.

IGT’s global gaming segment, meanwhile, saw faster growth, up 125.9% to $316m. Of the global gaming revenue, $108m came from terminal services and $91m from system and software services, for total gaming services revenue of $199m. Gaming sales came to $117m, up 108.9% of which $86m were terminal sales, an increase of 102.2%.

This meant that IGT’s total services revenue was $901m, up 72.6%. Its total product sales revenue was up 79.5% to $140m.

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