Sharing financial results for the six-month period ending June 30, 2024, IGT revealed that it had set a new personal best.
Operating income excluding Separation and divestiture costs came in at US$256m, a record for the company, up against $254m year-on-year.
Total operating income was $230m, down from $251m year-on-year, and total revenue was $1.049bn, down from $1,055bn year-on-year.
Total Adjusted EBITDA was $420m, down from $443m year-on-year, while Adjusted EBITDA excluding Separation and divestiture costs reached $446m, the same as the previous year.
Vince Sadusky, CEO of IGT, declared: "Consistent investments in technology, game content and other innovative solutions provide us a solid foundation to build from as we execute on our growth objectives. The recently announced sale of our Gaming & Digital business for $4.05bn in cash is an important step in unlocking the intrinsic value of IGT's best-in-class businesses."
"We generated over $460m in cash from operations in the first half of the year and our balance sheet is as strong as ever," said Max Chiara, CFO of IGT. "Our ample liquidity and manageable near-term debt maturities provide us significant flexibility in light of upcoming investments to extend and secure our long-term lottery contract portfolio for the coming years."
