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IGT Doing Well

Joining competitors in the industry who have also seen strong quarters, recent reports show IGT doing well thanks to a boost in slot machine sales in North America, both in terms of new and replacement units. They have seen double digit percentage increases in revenue, operating income, and earnings per share year on year.

Most of the manufacturing operations for the company are based in Reno, from where their slot machine games are sent out to land based casinos around the world – not to mention the internet games which they also put out in their own software package.

“We are very pleased with our momentum through the second quarter, demonstrating the strength of our comprehensive strategy — leveraging our core business, broadening the distribution of our premier content and generating shareholder returns,” Patti Hart, CEO of IGT, said in a statement. “As we continue to deliver on this strategy, we expect that this will be our fourth consecutive year of double-digit growth in adjusted earnings per share from continuing operations.”

The adjusted operating income climbed twenty per cent to $95.1 million, at thirty six cents a share, on revenue of $600 million for the second quarter ending on March 31. One year ago in the same quarter, the adjusted operating income was $79.5 million, at 27 cents a share, on revenue of $541.2 million. A lot of this is down to the fact that product sales in North American increased by twenty five per cent over the last year, with the company having sold eight thousand four hundred replacement machines there. This represents an increase of over sixty eight per cent over the last year, which is a fantastic result by anyone’s standards. They have a wide range of themed slot machines on offer for their customers to choose from, many of them based on popular television and movie themes which really appeal to players. Some of their leading titles include Wheel of Fortune, Family Guy, and Judge Judy – and surely the most popular of all of their games must be their Star Wars tie in. These results have beaten analysts’ estimates by seven cents a share.

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