IGT obtains consolidated revenues of $ 984 million during the third quarter of 2021

IGT has reported that operating income more than doubled to $ 212 million driven by significant operating leverage across all companies. It also achieved $ 200 million of the OPtiMa structural cost savings target by 2021 ahead of schedule.

According to the published report, we must highlight the following aspects:

• Adjusted EBITDA of $ 407 million, among the highest levels in Company history
• Net debt leverage improves to 3.8x from 6.4x at December 31, 2020; net debt reduced by $ 1.2 billion year-to-date
• Higher 2021 Operating Income Prospects Due to Strong Business Trends
• Reinstatement of $ 0.20 per common share quarterly cash dividend
• Global Lottery revenue rises 14% to $ 652 million, as sustained momentum drives 9% global same-store sales growth
• Global Gaming revenue of $ 289 million, up from $ 216 million in the prior year and $ 274 million sequentially as market recovery progresses
• Digital & Betting revenue increases 37% to $ 43 million, with double-digit growth across activities
• Operating income of $ 212 million, up 144% from the prior year
• Awarded 10-year lottery contract with Connecticut Lottery Corporation following a competitive procurement
• Announced several turnkey sports betting solutions, including full retail and mobile services for Angel Of The Winds Casino Resort, Oneida Casino, and Snoqualmie Casino
• Extended cashless momentum with agreements to deploy Resort Wallet ™ and IGTPay ™ at Agua Caliente Casino and Indigo Sky properties
• Net income of $ 101 million versus net loss of $ 129 million in the prior-year period, driven by higher revenue and operating profit, and a reduction in foreign exchange losses

In this regard, Marco Sala, IGT executive director, explained: "Revenue grew over 20% and operating income more than doubled, highlighting the strength of our portfolio. Based on our excellent year-to-date results and our solid financial condition, the Board reinstated a quarterly cash dividend, signaling their confidence in the Company's prospects. "

Along these lines, Max Chiara, IGT's CFO, highlighted: "Achieving our goal of reducing net debt leverage below 4.0x was a big accomplishment in the quarter."

FULL REPORT