IGT narrows 2018 forecast to upper end of prior range

News on 31 Oct 2018

International Game Technology (IGT) has narrowed its full year adjusted EBITDA forecast to reflect the top half of the prior range, to between $1,740 million and $1,780 million, following its third quarter results.

IGT reported adjusted EBITDA growth of 4 percent and 7 percent for the third quarter and year-to-date periods at constant currency and scope.

“Solid performance and important, long-term contracts drove very good third quarter and year-to-date results,” said Marco Sala, CEO of IGT.

“Global Lottery same-store revenues for instants and draw games rose mid-single digits. The installed base of gaming machines was up, and unit shipments of gaming machines increased 10%. And, we enjoyed particularly strong sales and profit growth in Italy, confirming the vitality of that important market.

“We are firmly on track to achieve our 2018 financial and operational goals.”

Related and similar