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IGT Reports $1B Quarter Amid North American Investment

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IGT — a lottery, slot machine, and technology provider — closed Q3 with an adjusted EBITDA of $433 million, an 8% increase year-over-year.

$1.06 billion in revenue in Q3 2023, which were the same results the company reported for the same period last year. It also saw its operating income increase 13% to $239 million during Q3 2023. As a result of the quarter, IGT has tightened its full-year revenue outlook for FY2023.

IGT’s ability to generate consistent revenue in Q3 was led by the company’s global gaming business, which generated $409 million in revenue during the quarter — an 8% increase year-over-year. IGT saw its global lottery sector take a step back in Q3 2023 with $601 million in revenue compared to $626 million in Q3 2022. IGT’s PlayDigital business, which includes B2B sports betting, saw revenue reach $55 million in Q3 2023, up $1 million compared to Q2 2023.

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