IGT reports $583m in Q1 revenue
Executives said the results fell in line with company expectations.
Key Points
- The company reported decreases in revenue, adjusted EBITDA and income from continuing operations in Q1.
- However, the company said global instant ticket and draw games sales drove revenue in the first quarter
IGT has released its financial and business results for the first quarter of 2025. Revenue for the quarter reached $583m, down nearly $80m year-over-year.
The company attributed higher US multi-state jackpot activity, associated LMA incentives, multi-year central system software licenses and terminal sales in the prior year to the quarterly revenue total.
Income from continuing operators reached less than 10% of the total posted one year ago. The company reported $8m in income from continuing operations.
Adjusted EBITDA reached $250m in Q1.
Company CEO Vince Sandusky commented, “Global sales of instant ticket and draw games continue to expand, driven by a steady pipeline of game innovation and portfolio optimization strategies.
“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.”
IGT CFO Max Chiara took a moment to discuss the Q1 financial results as well.
He said, “First quarter profit was in line with expectations at constant currency and we delivered strong cash conversion. 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.”
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