IGT sees growth in product sales as FY 2019 revenue stable

IGT revenue was $4.79bn for the full year 2019, a decrease of 1% year-on-year.

Operating income was $637m, down 2%, while adjusted EBITDA was $1.71bn, a fall of 1%.

For Q4 2019, the supplier generated revenue of $1.25bn, also down 1% from the prior year, while operating income was $81m, a rise of 99%.

Adjusted EBITDA for the quarter was $436m, up 5%, and the supplier was able to reduce its net debt by 5%, totalling $7.38bn by the end of Q4.

IGT said the results matched expectations for profit and cash flow for 2019, led by strong results in the supplier’s North America gaming and Italian segments.

The supplier also outlined significant growth in its global gaming product sales for the year.

Marco Sala, CEO of IGT, said: “In the full year, we grew global gaming product sales by more than 20% thanks to higher unit shipments and the success of our new games. Global lottery same-store revenue also rose.

“We are closely monitoring the impact of the coronavirus outbreak. Apart from this, solid operational performance across products and regions should support continued momentum in 2020.”