IGT second quarter revenue down slightly on US and international decline

first_imgGlobal gaming giant International Game Technology (IGT) saw its net revenue fall slightly in 2Q18, down 1% to US$1.2 billion on the back of declines in the North American and International markets.The results were negatively impacted by the sale of social casino business Double Down and new revenue recognition standards, with North American revenue down 18% to US$254 million. It included a fall in gaming service revenue from US$208 million in 2Q17 to US$169 million, while product sales fell 17% year-on-year to US$85 million. RelatedPosts Caesars slips back into loss in 2Q19 but US properties showing growth ahead of Eldorado merger Load More Marriage proposal provides unexpected highlight at third Macau After Dark IGT announces offering of €500,000,000 senior secured notes International revenue declined 6% to US$199 million with gaming service revenue in the segment falling from US$43 million to US$34 million and product sales down 10% to US$67 million.Conversely, IGT’s North American lottery business grew 5% to US$309 million on the back of product sales more than doubling, while Italy rose 9% to US$441 million.Group-wide Adjusted EBITDA increased 4% to US$442 million with Adjusted operating income remaining flat at US$264 million.IGT CEO Marco Sala praised the expansion of the company’s global lottery business.“The North America Lottery and Italy segments each exceeded our expectations in the period,” he said. “The North America Gaming installed base grew sequentially, and we have a compelling roster of new, for-sale video reel games coming to market in the second half. The strong start to the year gives us confidence we can achieve our 2018 strategic and financial goals.”Chief Financial Officer Alberto Fornaro added, “With better-than-expected Adjusted EBITDA growth of 10% in the first half, we are raising our full-year outlook for the underlying business.“As a result, we are able to absorb the negative impact of foreign currency translation and maintain the Adjusted EBITDA range of US$1.7 billion to US$1.78 billion for 2018.”last_img read more

Maybe it wasnt ever going to be much of a contest

first_imgMaybe it wasn’t ever going to be much of a contest. Elliot Harrison of NFL.com set out to name the best player in every NFC team’s history, and the Arizona Cardinals’ selection really doesn’t come as much of a surprise.ARIZONA CARDINALS: Larry Fitzgerald, wide receiverWhen you think of Fitzgerald’s career, you probably begin to ponder hard-luck athletes across sports. Of course, that’s really the story with every great player in Cardinals history — there just haven’t been enough winning seasons to go around. That said, the first thought that comes to my mind is Fitzgerald’s performance in the 2008 postseason: 30 catches for 546 yards and seven touchdowns! Another Larry, Hall of Fame safety Larry Wilson, was the toughest competition here. Harrison notes Fitzgerald’s historic postseason run, which was truly something to behold. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Comments   Share   Derrick Hall satisfied with D-backs’ buying and selling Grace expects Greinke trade to have emotional impact Former Cardinals kicker Phil Dawson retires Top Stories But besides that, the former No. 3 overall selection in 2004 has amassed 846 receptions, 11,367 yards and 87 touchdowns in 10 seasons, all of which have come with the Cardinals. An eight-time Pro Bowler and one-time First-Team All-Pro, Fitzgerald is also the first (and only) Cardinal to appear on the cover of EA Sports’ Madden NFL Football video game, which he did so for the “Madden 10” in 2009. last_img read more