Posting its financials for the quarter ending March 31, 2025, IGT reported a revenue of US$583m, a fall of 12 per cent, or 10 per cent in constant currency, against the previous year.
Operating income was down 37 per cent, or 35 per cent in constant currency, from $219m with a margin of 33.1 per cent to $138m with a margin of 23.7 per cent.
Adjusted EBITDA was down 24 per cent, or 22 per cent in constant currency, from $327m with a margin of 49.5 per cent to $250m with a margin of 42.8 per cent.
"Global sales of instant ticket and draw games continue to expand, driven by a steady pipeline of game innovation and portfolio optimisation strategies," said Vince Sadusky, CEO of IGT.
"While the world is currently faced with great uncertainty, we are excited about the initiatives we are working on to drive sustainable, long-term growth and shareholder value."
"First quarter profit was in line with expectations at constant currency and we delivered strong cash conversion," said Max Chiara, CFO of IGT. "Given lower US multi-state jackpot activity and the current worsening macroeconomic environment, we believe it is likely we will be at the low end of the full-year revenue and adjusted EBITDA guidance provided in February.
“With a solid financial profile and ample liquidity in advance of important contract renewals, we remain well-positioned for the future."
