IGT’s Gaming & Digital segment has seen a whopping 13% increase in revenue growth in the second quarter of 2024, putting the company ahead of expectations before its planned divestiture.
The global gaming giant, which has a significant presence in Asia, reported revenue of $789 million for the quarter, up from $698 million in the same period last year. This growth was largely driven by strong performance in the digital gaming sector, which saw a 21% increase in revenue to $274 million.
According to IGT CEO Marco Sala, the company has been able to navigate the challenges presented by the ongoing global pandemic and deliver solid results in the quarter.
“We are pleased to see our Gaming & Digital segment deliver such strong results in the second quarter of 2024,” Sala said. “Our continued focus on innovation and customer engagement has allowed us to grow our revenue and position ourselves well for the future.”
IGT’s digital gaming business, in particular, has been a major driver of growth for the company. The company recently launched several new games and features to attract players and increase engagement, which has resulted in a significant increase in revenue.
In addition to its strong performance in the digital gaming sector, IGT also saw growth in its land-based gaming business, with revenue increasing by 8% to $515 million. This growth was driven by strong sales of new gaming machines and equipment, as well as increased demand for its casino management systems.
Looking ahead, IGT is preparing to divest its Gaming & Digital segment in order to focus on its core lottery business. The company announced earlier this year that it would be spinning off the segment as a separate public company, with the divestiture expected to be completed by the end of 2024.
Despite the upcoming divestiture, IGT remains committed to delivering strong results in its Gaming & Digital segment and providing value to its shareholders. The company is optimistic about its future prospects and is confident that it will continue to deliver solid growth in the coming quarters.
Overall, IGT’s Gaming & Digital segment has proven to be a strong performer for the company, driving revenue growth and solid results in the second quarter of 2024. With its focus on innovation and customer engagement, IGT is well-positioned to continue delivering strong results and driving growth in the future.
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