International Game Technology PLC Announced second quarter financial results for the trading period ending June 30, 2021. He cites the exceptional performance of the lottery industry and the gradual recovery of digital and betting as the engine of revenue and profit growth.
Consolidated revenue for the quarter was $ 1 billion, up 74% year-over-year, and global lottery revenue increased 58% to $ 725 million, with same-store sales up 35%. .. Meanwhile, global gaming revenue was $ 316 million, up 126% year-over-year, up 19% quarter over quarter due to the lawsuit. recovery trends.
The company also reported an operating profit of $ 244 million, up from an operating loss of $ 72 million the year before. The net loss was $ 39 million and the net loss in the second quarter of 2020 was $ 268 million, mainly due to significant revenue growth.
Adjusted EBITDA was $ 442 million, up from $ 164 million in the last year quarter, and Global Lottery delivers Adjusted EBITDA to the near-record segment level.
According to IGT, net liabilities were $ 6.3 billion, down more than $ 1 billion from $ 7.3 billion as of December 31, 2020.
CEO Marco sala Commentary: “The impressive second quarter results underscore the vitality of the portfolio. Significant turnover and significant increase in lottery performance, gradual resumption of land-based games and significant increase in digital and betting activities. Profit growth was sparked and the highest Adjusted EBITDA recorded in the quarter was achieved.
“We are raising our outlook for this year in light of our first half results, and we expect key financial indicators to exceed 2019 levels this year.”
CFO Max Chiara “Record free cash flow from continuing operations and income from recent asset sales fueled significant debt reductions in the first half of the year. Our leverage profile has improved considerably and far exceeded expectations. Reached pre-pandemic levels and improved credit profile and overall financial situation. “
The outlook is that IGT expects second-half 2021 revenue and operating profit from continuing operations of $ 2 billion and $ 300 million, respectively, both significantly higher than the previous year.
The global lottery is expected to return to more normal growth rates, which apply to higher levels of consumption, with same-store third-quarter sales up double-digit from 2019.
The growth of the lottery, combined with digital recovery and betting, improves the performance of IGTQ2
Source link The growth of the lottery, combined with digital recovery and betting, improves the performance of IGTQ2