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International Game Technology PLC Reports Fourth Quarter and Full Year 2024 Results
International Game Technology PLC reported financial results for the fourth quarter and full year ended December 31, 2024.
“2024 was a year of momentous transformation with the conclusion of our strategic review and the announced sale of our Gaming & Digital business for $4.05 billion in cash. Our unmatched capabilities in developing world-class Lottery solutions and innovative game content support several important investments to drive long-term growth and shareholder returns. We are well-positioned to continue strengthening our global lottery leadership,” Vince Sadusky, CEO of IGT, said.
“We delivered solid financial results in 2024, including robust cash flow generation to invest in the business, reduce debt, and return capital to shareholders. Our core, recurring business has a compelling low-to-mid single digit growth profile and provides a solid foundation as we head into our next CapEx cycle aimed at securing our portfolio and extending its duration to more than eight years,” Max Chiara, CFO of IGT, said.
Fourth Quarter 2024 Financial Highlights
Revenue of $651 million, down 4% compared to $681 million in the prior-year period, mainly due to comparisons with record product sales revenue in the prior year; current year period represents the second highest quarter for product sales revenue in Company history
• Strong instant ticket and draw game same-store sales growth across jurisdictions; Italy up 7.0%, 3.9% normalized for same number of selling days
• Elevated U.S. Multi-state Jackpot activity in the prior year inclusive of LMA incentive impact (which is recognized in Other service revenue)
• Higher central system software license, terminal, and instant ticket services in the prior year
• Negative impact of foreign currency rates
Operating income of $179 million compared to $197 million in the prior year, primarily driven by the items affecting Adjusted EBITDA as noted below, partially offset by lower restructuring costs
Income from continuing operations of $116 million versus $73 million in the prior-year period; income from continuing operations margin of 17.9% compared to 10.7% in the prior year
• Improvement in net interest expense primarily due to lower average borrowings on committed bank facilities and the refinancing of a senior-secured note at a lower coupon
• Foreign exchange gain versus foreign exchange loss in the prior year, primarily reflecting the non-cash impact of fluctuations in the EUR/USD exchange rate on debt
• Increased provision for income taxes primarily driven by higher pre-tax income and a discrete tax item, partially offset by foreign exchange gains that are taxable in a low-tax jurisdiction in the current year versus the impact of non-deductible foreign exchange losses in the prior year.
The post International Game Technology PLC Reports Fourth Quarter and Full Year 2024 Results appeared first on European Gaming Industry News.
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Million Games Expands Blackjack Portfolio with Million Blackjack London Deal
Million Games is proud to announce the latest game launch of Million Blackjack London Deal, an authentic European-style blackjack experience designed for real players. This latest addition to the Million Blackjack series follows their first launch of Million Blackjack Peek, offering players an alternative way to enjoy the classic casino favourite.
Unlike its American-rules counterpart, Million Blackjack London Deal features a distinctive dealing style – cards are dealt one at a time, and the dealer takes only one card in the initial round. This subtle yet strategic difference brings a fresh challenge to blackjack enthusiasts, requiring sharper decision-making and an enhanced focus on game strategy.
Thomas Nimstad, CEO of Million Games, commented on the significance of introducing both versions under their traditional names: “We wanted to give players the true blackjack experience. With Million Blackjack Peek and Million Blackjack London Deal, we’re providing real players with the versions they know and love, allowing them to engage with the game in its purest form.”
Million Games remains committed to delivering high-quality, player-focused experiences, and Million Blackjack London Deal is a testament to this dedication. Whether players prefer the American Peek version or the European London Deal format, Million Games ensures a seamless and engaging blackjack experience.
The post Million Games Expands Blackjack Portfolio with Million Blackjack London Deal appeared first on European Gaming Industry News.
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CryptoWins.com Expands Portfolio with 30 New Slots from NetGame Integration
40% Match deposit bonus on new NetGame slots for all players this week
CryptoWins the cryptocurrency-only casino that celebrated its 1st anniversary in November 2024, has launched 30 exciting new slots by NetGame, including popular titles like African King, Diamond Shot, Hit in Vegas, Volcano Fruits, and Wild Buffalo. This expansion brings CryptoWins’ total game count to over 470, across 11 software providers.
NetGame’s slots offer an exceptional playing experience through original math models, vibrant art, and unique bonus mechanics. Each game features elements like Free Spins, Progressive Jackpots, Tumbling Reels, Pick’em Bonuses, Re-Spins, Fortune Wheels, Win Both Ways, and more.
Diamond Shot blends classic fruit symbols with exciting bonus features, including three types of scatters: a regular one, a stacked one for bigger prizes, and one that unlocks the tile match bonus with up to 25 free spins and a 3x multiplier, plus the possibility of a special wild.
Hit in Vegas takes you to Sin City with a 25x multiplier in the base game and a 1000x multiplier on the Wheel of Fortune. With 15 free spin features offering locked wilds, highest symbols only, and scatter pay wins, a fortune could be yours.
“At CryptoWins, we’re committed to bringing players the best entertainment possible, and with each new partnership, we expand our diverse game offerings. The cryptocurrency landscape continues to evolve, and we’re excited to be at the forefront,” says Michael Hilary, CryptoWins Manager.
In addition to the NetGame launch, CryptoWins introduced new slots from Rival in November and Felix Gaming earlier this year. The casino is also set to introduce brand-new types of games this Spring.
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CryptoWins continues to raise the bar for online gaming, providing innovative and secure experiences for cryptocurrency enthusiasts.
The post CryptoWins.com Expands Portfolio with 30 New Slots from NetGame Integration appeared first on European Gaming Industry News.
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Altenar serves up improved tennis vertical
The upgraded offering will give operators access to increased in-play opportunities and new micro markets
Altenar has enhanced its sportsbook offering with an upgraded tennis vertical, now featuring official TDI data through a strategic integration with Sportradar.
The recent launch brings fast, live data from ATP and Challenger Tour events, increasing the number of in-play betting opportunities and introducing innovative micro markets. By leveraging Sportradar’s advanced AI and deep tennis data from TDI, Altenar can now process hundreds of thousands of data points from every match, offering a significant boost in betting options for users.
The introduction of micro markets allows users to bet on events with an immediate result, such as next serve, break points or the total number of shots in a point. This new feature is expected to enhance the user experience and drive further engagement, as micro markets have already proven to be successful in soccer and major US sports.
Altenar’s commitment to utilising premium data from official rights holders underlines its focus on delivering a superior sportsbook experience. The improvements aim to boost retention rates for operators, ultimately leading to greater revenue.
Antonis Karakousis, Director of Operations at Altenar, said: “This is a pivotal opportunity to achieve our growth ambitions. By integrating cutting-edge tennis data, we are providing unique betting options and the lowest possible latency across all our operators, driving innovation in the industry.”
The post Altenar serves up improved tennis vertical appeared first on European Gaming Industry News.
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