International Game Technology PLC (IGT) reported its financial results for the second quarter ended June 30, 2024.
IGT reveals a $1.05 billion revenue and a $230 million operating income delivered in Q2’24 revenue with the adjusted EBITDA which was $420 million. This comes after achieving record H1’24 Operating income and Adjusted EBITDA excluding Separation and divestiture costs.
The company also generated over $460 million in cash from operations and over $260 million in free cash flow in the first half of the year using its technology and solutions bolster Global Lottery portfolio while advancing key strategic initiatives; games driving Gaming & Digital performance.
Vince Sadusky, CEO of IGT, stated: “IGT delivered strong first half results, including record operating income and Adjusted EBITDA net of Separation and divestiture costs. Consistent investments in technology, game content, and other innovative solutions provide us a solid foundation to build from as we execute on our growth objectives.
“The recently announced sale of our Gaming & Digital business for $4.05 billion in cash is an important step in unlocking the intrinsic value of IGT’s best-in-class businesses.”
“We generated over $460 million in cash from operations in the first half of the year and our balance sheet is as strong as ever,” said Max Chiara, CFO of IGT. “Our ample liquidity and manageable near-term debt maturities provide us significant flexibility in light of upcoming investments, to extend and secure our long-term lottery contract portfolio for the coming years.”
