Lottery growth sees IGT return to profit in Q1 as revenue exceeds $1bn

| By Robert Fletcher
International Game Technology (IGT) posted a net profit of $92m (£65m/€76m) in the first quarter of its 2021 financial year, after growth within its lottery business drove revenue up 24.7% year-on-year to beyond $1bn.

Total revenue for the three months to March 31 amounted to $1.02bn, up from $814m in the same period last year across its two divisions – global gaming and global lottery.

IGT put this increase down to year-on-year growth in its global lottery segment, where revenue was up 48.3% to $749m. Revenue from operating facilities and management contracts in the lottery business jumped 53.1% to $695m, while other revenue climbed 25.8% to $83m.

Global same-store sales were up by 32.4% overall, with North American and rest of world lottery sales increasing 27.8% and Italy sales 52.2%.

In contrast, global gaming revenue was down 14.2% year-on-year to $266m, as IGT saw a decline in revenue from both gaming services and product sales.

In the gaming service segment, revenue was 4.9% lower at $157m, with terminal revenue down 15.1% to $90m, though systems, software and other revenue increased 11.7% to $86m.

Read the full story on iGB North America.

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