IGT has reported $1.1bn total revenue in the fourth quarter of 2023, which is a 3% increase year-on-year, with the global lottery being a key contributor to its positive financial results.
The revenue of PlayDigital reported a decrease of up to 10% during the fourth quarter, while global gaming reported a fractional increase when compared to the same period in 2022.
Global lottery, however, was the main driving force behind IGT’s 3% increase in revenue year-on-year, reporting $681m, which is 7% more when compared to 2022.
Speaking of the operating income, all three of the verticals that we mentioned above reported 11% growth for IGT, or $256m. Out of all three verticals, global gaming saw the highest increase and reported a whopping 17% more than the previous year.
When looking at total adjusted EBITDA for Q4, IGT also reported a positive trend, with global gaming again noticing the highest increase of 23%. More specifically, the total revenue went from $419 million in Q4 2022 to $454 million in Q4 2023.
Furthermore, IGT reported a 2% year-on-year increase for the entire 2023 or a total amount of $4.3bn revenue. From here, global gaming and PlayDigital each improved their annual revenue by 9%, while global lottery reported a surprising decrease of 2% when compared to Q4.
Despite this, IGT saw an increase in operating income for all three verticals, which went up from $922 million in 2022 to $1 billion in 2023. Though the joint increase for all three verticals clocked at 32%, PlayDigital saw the highest improvement out of all three, reporting a record $65 million.
From here, the total adjusted EBITDA that the company reported for 2023 is $1.8 billion, making it a new record for IGT, as well as a 7% increase when compared to 2022. In addition, IGT saw an improvement in net debt leverage to 2.9x, making for the lowest in the history of the company.
We delivered a strong finish to the year in the fourth quarter, propelling full-year 2023 profits to record levels.
Vince Sandusky – CEO of IGT
