IGT posts $1.1bn in revenue for FY2022
The company reported financial growth in multiple areas for both Q4 and for 2022.
Supplier IGT has published its Q4 and fiscal year 2022 financial results. The company reported quarterly and annual growth in both its revenue and operating income.
During the fourth quarter, revenue reached $1.1bn, a large portion generated by same-store sales growth in the global lottery, according to the report. PlayDigital contributed $65m to the company’s revenue during the quarter, more than it has during any other period on record, IGT said.
Global gaming revenue increased by 21% in Q4 to reach $389m. Operating income rose by 24% and reached $230m.
The company noted similar trends in its annual results. Overall revenue for the year grew to $4.2bn during the year. During 2022, the company reported 3% growth in its revenue when compared to results from 2021.
According to the results, PlayDigital played a significant role in IGT’s revenue growth for the year.
The company noted “significant Global Gaming improvement” for 2022 by posting a record operating income of $922m, with an accompanying operating income margin of 22%. IGT reduced its debt during the fiscal year by $771m and returned $276m to its shareholders.
Company CEO Vince Sadusky commented: “We achieved all our financial goals last year while strengthening product leadership positions across our Global Lottery, Global Gaming, and PlayDigital activities.
“Important strategic work executed over the last few years has transformed IGT into a company with higher growth prospects, a better profit profile, and a solid path to delivering on our long-term goals.
“It has also enabled record capital returns to shareholders in 2022. We enter 2023 from a position of strength with good momentum across business segments.”
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