International Game Technology PLC Reports Second Quarter 2017 Results

United Kingdom 01 Ago 2017

(London, UK).- International Game Technology PLC ("IGT") (NYSE:IGT) today reported financial results for the second quarter and six months ended June 30, 2017. Today, at 8:00 a.m. EDT / 1:00 p.m. BST / 2:00 p.m. CEST, management will host a conference call and webcast to present the second quarter results; access details are provided below.

- Net loss of $290 million includes $220 million of net foreign exchange loss; adjusted Net income of $31 million
- Adjusted EBITDA of $424 million reflects strong lottery results and global gaming machine sales
- Net debt of $6,999 million, down from $7,569 million at 2016 year end
- Cash dividend declared of $0.20 per ordinary share

"Our second quarter results reflect strong key performance indicators for both our global Lottery and Gaming businesses," said Marco Sala, CEO of IGT. "Lottery growth is benefiting from innovation and effective sales and product marketing initiatives. In Gaming, the global installed base was up and unit sales of gaming machines were higher, as were average selling prices, all supported by strong demand for new cabinets. Overall, we are pleased with the results of the first half, and we expect a more robust product offer to support stronger sales and profit levels in the second half of the year."

"We´ve made a lot of good progress on many levels so far this year," said Alberto Fornaro, CFO of IGT. "We are lowering our debt and we are enhancing cash generation through disciplined asset and financial management. We are maintaining our outlook for adjusted EBITDA and net debt for the year, and have modestly reduced capital expenditures to account for certain timing shifts."



fuente: SoloAzar / Press Released