Publishing its results for the third quarter of 2016, International Game Technology has reported a five per cent increase in revenue, to $1.27bn - performance the company attributes to strong lottery growth and higher gaming product sales.
For the three months to September 30, earnings (adjusted EBITDA) were up four per cent compared with the same period in 2015, to $430m.
Marco Sala, CEO of IGT, said in a statement: “Strong lottery performance across the world, a larger global installed base and increased sales of gaming machines drove another quarter of solid revenue and profit expansion.
“IGT's leadership positions in lottery and gaming machines were evident at the recent gaming and lottery trade shows. The engaging player experiences and technology solutions IGT creates are the cornerstones of our growth strategy, and we are encouraged by customer enthusiasm for our innovative new products."
Alberto Fornaro, CFO of IGT, added: “Higher profitability enabled us to maintain our leverage ratio despite the significant interest and tax payments of the quarter.
“Based on our performance to date, we remain comfortable with our adjusted EBITDA outlook for the full year.”
