IGT to report financial records for the first quarter of 2024

International Game Technology PLC announced its financial results for the quarter ending March 31, 2024.

CEO Vince Sadusky believes that innovative gaming, hardware and system solutions have propelled the global Lottery and Gaming & Digital sectors beyond expectations and led to their impressive performance. As a result, the company has revised its full-year 2024 revenue and profit targets upward to reflect continued momentum across key performance indicators for the remainder of the year. Mr. Sadusky also highlighted the progress made in the separation of Global Lottery from Gaming & Digital and the preparation of a proposed transaction with Every.

Key highlights include:

• Announcement of spin-off of game & digital business. The company plans to merge with Everi Holdings Inc., with the transaction expected to close in late 2024 or early 2025.
• Received top honors in the ICE London 2024 Awards Program, including accolades such as ‘Lottery Product of the Year’ and ‘Best Diversity and Inclusion Employer’.
• Extended supply contract with the UK National Lottery.
• Entered into a licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop Lottery-based game.
• “Mystery of the Lamp” was named “Top Performing New Premium Game” at the 2024 EKG Slots Awards Show.
• Contract signed to provide PeakDual 27 video lottery terminals throughout Quebec.
• Launched iGaming content in Rhode Island.
• Achieved AAA, the highest MSCI ESG rating, and received a Gold Sustainability Rating from EcoVadis.

CFO Max Chiara noted record first-quarter organic profit performance, excluding separation and disposal costs. He highlighted the company’s strong position, including historically low net debt leverage, substantial liquidity and manageable short-term debt maturities.