A strong finish to 2017 is reported by IGT, presenting its results for the fourth quarter of the year.

Marco Sala, CEO, reported that the year had seen the important milestone of securing the Italian Scratch and Win concession until 2028 and a seven-year expansion to its California Lottery contract.

The quarter’s net income was $80m and adjusted EBITDA was $452m, but there was a net loss on the year of $1.06bn to include the previously reported $714m non-cash impairment charge and $444m of non-cash net foreign exchange losses. There is a net debt of $7.3bn.

The international revenue for the year was $280m, up 27 per cent on the previous year, with growth in both lotteries and gaming. The company’s installed base was 15,543 machines, up from 10,453 at the end of the previous year, with growth in Africa, in Greek VLTs and video bingo machines.

The company shipped 32,103 gaming machines world-wide in 2017, the company reported.