International Game Technology ( (IGT) ) has released its Q4 earnings. Here is a breakdown of the information International Game Technology presented to its investors.
International Game Technology PLC (IGT) is a global leader in the gaming industry, providing innovative gaming solutions across lotteries, gaming machines, sports betting, and digital platforms. The company operates in over 100 jurisdictions worldwide, leveraging its expertise to deliver engaging and responsible gaming experiences.
In its latest earnings report, IGT announced its financial results for the fourth quarter and full year 2024, highlighting strong performance in its lottery business. The company achieved a revenue of $651 million in Q4, driven by robust growth in instant ticket and draw game sales, and a full-year revenue of $2.5 billion. The year was marked by strategic transformations, including the sale of its Gaming & Digital business for $4.05 billion.
Key financial metrics for 2024 included an income from continuing operations of $271 million, with a margin of 10.8%, and an Adjusted EBITDA of $1.17 billion, reflecting a margin of 46.6%. The company generated a strong cash flow from operations totaling $1.03 billion, with significant contributions from its core, recurring business. IGT also secured several long-term contracts, reinforcing its leadership in the global lottery market.
Despite a slight decline in revenue compared to the previous year, IGT’s financial performance remained solid, supported by strategic investments and contract renewals. The company reported a net debt reduction to $4.8 billion, benefiting from favorable foreign exchange rates, and maintained a healthy liquidity position with $1.9 billion available.
Looking ahead, IGT’s management is optimistic about 2025, projecting revenue growth in the low to mid-single digits and continued investment in business initiatives. The company’s robust foundation in the lottery sector positions it well for future growth and shareholder returns, as it navigates the evolving gaming landscape.