International Game Technology PLC

IGT

Equity

ISIN GB00BVG7F061 / Valor 27140232

New York Stock Exchange, Inc (2024-11-21)

USD 18.99+1.28%

International Game Technology PLC
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About company

International Game Technology PLC (IGT) is a global leader in gaming, providing a wide array of products and services across various sectors of the industry. The company's offerings span from digital and interactive solutions to traditional retail betting systems, catering to the diverse needs of the regulated iGaming market and sportsbook operators. IGT's PlayDigital Casino platform is renowned for its high-quality, omni-channel content, which includes a comprehensive suite of games and business solutions designed to meet the evolving demands of online gaming. Additionally, IGT PlaySports is recognized for its industry-leading, business-to-business retail betting solutions, offering a full suite of services tailored for sportsbook operations. The company's commitment to innovation is evident in its extensive portfolio, which is built upon advanced technologies, leading analytics, and in-depth research, ensuring that IGT remains at the forefront of the gaming industry's technological and regulatory developments.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

International Game Technology PLC reported revenue of $1.07 billion for the first quarter of 2024, marking a 1% increase from the prior year. This growth was primarily driven by strong performance in the Global Lottery segment, which saw a 6% increase in revenue to $661 million.

Operating Income

The company achieved an operating income of $256 million in Q1 2024, consistent with the prior year. However, excluding Separation & divestiture costs, operating income increased by 7% to a record $273 million, with the operating income margin expanding by 150 basis points to 25.6%.

Adjusted EBITDA

Adjusted EBITDA for International Game Technology PLC in the first quarter of 2024 was $443 million, with an Adjusted EBITDA margin of 41.5%. Excluding Separation & divestiture costs, Adjusted EBITDA rose to $461 million, and the margin improved by 80 basis points to 43.1%.

Net Income

Net income for the first quarter of 2024 was $128 million, a significant increase from $67 million in the prior-year period. This improvement was driven by foreign exchange gains and a lower provision for income taxes.

Dividend Declaration

The Board of Directors of International Game Technology PLC declared a quarterly cash dividend of $0.20 per common share. The record date for the dividend is May 30, 2024, with a payment date set for June 13, 2024.

Summarized from source with an LLMView Source

Key figures

-28.6%1Y

-31.1%3Y

24.0%5Y

Performance

34.9%1Y

48.0%3Y

64.0%5Y

Volatility