IGT raises guidance after growth across all segments in Q3

| By Nosa Omoigui
International Game Technology (IGT) raised its full-year revenue guidance after experiencing growth across every business segment and product type in Q3, helping overall revenue grow 20.6% to $984m.
IGT sees growth across all segments for Q3

Of IGT’s $984m in revenue, its global lottery business brought in $652m, up 14.1%.

Breaking down this global lottery revenue further, operating and management contracts – after accounting for $51m worth of license fee amortisation – brought in $539m, up 14.0%. Other services brought in $78m, up 4.0%, while global lottery product sales were up 70.6% to $35m.

Revenue from its global gaming business, meanwhile, was up 34.3% to $289m. This included $116m worth of terminal service – up 43.7% – plus $56m of systems, software and other services, an 8.2% increase, as well as $81m, up 64.3%, in terminal sales and other sales of $36.2m, a growth of 7.0%.

Digital and sports betting revenue came to $43m, up 36.8%. All of this revenue came from services.

In total, $832m of IGT’s sales were of services, up 16.7%, while product sales were up 46.2% to $152m.

Read the full story on iGB North America.

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