{"id":259,"date":"2024-06-27T07:27:35","date_gmt":"2024-06-27T04:27:35","guid":{"rendered":"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/"},"modified":"2024-06-27T07:27:35","modified_gmt":"2024-06-27T04:27:35","slug":"igt-reports-strong-first-quarter-results","status":"publish","type":"post","link":"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/","title":{"rendered":"IGT Reports Strong First Quarter Results"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/1pfQhQTBwNY\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Global gaming and digital entertainment company, International Game Technology (IGT), has publicized its financial performance for the initial three months of 2023. The company reported a total income of $1.06 billion (approximately \u00a3840.6 million or \u20ac966.2 million), marking a slight increase of 0.8% compared to the same period in the previous year.<\/p>\n<p>The chief executive officer of IGT, Vince Sadusky, expressed satisfaction with the quarter&#8217;s results, stating that they surpassed anticipated outcomes and reinforced the company&#8217;s outlook for the entire year.<\/p>\n<p>Sadusky emphasized that the company&#8217;s performance in the first quarter exceeded expectations, placing them on a solid path to achieve their full-year objectives.<\/p>\n<p>He attributed the quarter&#8217;s success to the strong performance of IGT&#8217;s key business segments, namely Global Lottery, Global Gaming, and PlayDigital.<\/p>\n<p>While revenue from the Global Lottery segment experienced a decrease of 8.2%, reaching $624 million, the Global Gaming and PlayDigital segments witnessed significant growth, with revenue increases of 17.2% and 17.0%, respectively.<\/p>\n<p>Sadusky further highlighted the role of innovation and sustained customer and player demand in driving momentum across the company&#8217;s core segments. He emphasized that these factors were reflected in the strong key performance indicators achieved during the quarter.<\/p>\n<p>IGT attributed the decline in Global Lottery revenue to the divestment of its Italian commercial services business.<\/p>\n<p>In terms of segment performance, the Global Gaming segment generated revenue of $381 million, while PlayDigital revenue surpassed $55 million.<\/p>\n<p>Geographically, revenue in the United States and Canada reached $666 million, representing an increase of 11.4%, while revenue in Italy experienced a decline of 18.4%. <\/p>\n<p>Income from services constituted a substantial portion of the quarter&#8217;s earnings, reaching $846 million, while product sales made up the remaining $215 million.<\/p>\n<p>Service expenses decreased by 7.0% during the quarter, reaching $398 million. Sales and R&#038;D expenses were $217 million, down 12.4%, while product cost of goods sold was $127 million, up $5 million from the previous year.<\/p>\n<p>Research and development expenses also grew by $5 million, reaching $62 million.<\/p>\n<p>Overall, operating expenses reached $805 million, a 0.7% increase, resulting in operating profit of $255 million, a slight increase of $3 million.<\/p>\n<p>Total non-operating expenses, including interest expense, foreign exchange losses, and other non-operating costs, amounted to $101 million, a 44.3% increase.<\/p>\n<p>Earnings before taxes were $155 million. After an income tax provision of $87 million, net income for the quarter totaled $67 million, a 42.7% increase from the previous year.<\/p>\n<p>Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $449 million, a 3.7% increase.<\/p>\n<p>**Prospects for the Second Quarter**<\/p>\n<p>IGT has provided guidance for the second quarter of 2023, expecting revenue of $1 billion and an operating margin of 22%-24%.<\/p>\n<p>Full-year revenue is anticipated to be between $4.1 billion and $4.3 billion, with operating cash flow projected to be between $900 million and $1 billion.<\/p>\n<p>**Sign up for the iGaming Newsletter** <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global gaming and digital entertainment company, International Game Technology (IGT), has publicized its financial performance for the initial three months of 2023. The company reported a total income of $1.06 billion (approximately \u00a3840.6 million or \u20ac966.2 million), marking a slight increase of 0.8% compared to the same period in the previous year. The chief executive [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IGT Reports Strong Q1 2023 Earnings<\/title>\n<meta name=\"description\" content=\"International Game Technology (IGT) announces solid Q1 2023 financial results, exceeding expectations with a total revenue of $1.06 billion.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"IGT Reports Strong First Quarter Results\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"International Game Technology (IGT) announces solid Q1 2023 financial results, exceeding expectations with a total revenue of $1.06 billion.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Discover the Best Online Casino Games | Licensed &amp; Trusted\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T04:27:35+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/\",\"url\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/\",\"name\":\"IGT Reports Strong Q1 2023 Earnings\",\"isPartOf\":{\"@id\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/#website\"},\"datePublished\":\"2024-06-27T04:27:35+00:00\",\"dateModified\":\"2024-06-27T04:27:35+00:00\",\"author\":{\"@id\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"International Game Technology (IGT) announces solid Q1 2023 financial results, exceeding expectations with a total revenue of $1.06 billion.\",\"breadcrumb\":{\"@id\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/2024\/06\/27\/igt-reports-strong-first-quarter-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IGT Reports Strong First Quarter Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/#website\",\"url\":\"https:\/\/spindimensionnodepositbonuscodes.icu\/\",\"name\":\"Discover the Best Online Casino Games | Licensed &amp; Trusted\",\"description\":\"Explore the dynamic world of online gambling with our licensed casino. 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