IGT Boosts FY24 Outlook on Strong Lottery, Digital Growth

IGT increased its sales and profit projections for the entire year of 2024 after outperforming forecasts in the first quarter.

The upgrade was motivated by the Global Lottery and Gaming & Digital’s (together first-ever) strong performances.

Global lottery revenue climbed by 6% annually, whereas revenue from gaming and digital sources decreased by 7%.

The entire amount of revenue was $1.07 billion. CEO Vince Sadusky highlighted “innovative game solutions” and adjusted EBITDA that exceeded expectations, despite a little decline from the previous quarter.

With the support of “broad-based momentum,” IGT increased its projected sales for FY24 to $4.4 billion, with record profitability excluding divestiture and separation costs.

Both the Global Lottery spin-off and the merger with Everi Holdings are still scheduled to happen.

Original Story by: Inside Asian Gaming