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  • Revenue of $1.02 billion, down 2% as reported and up 3% at constant currency, led by 23% growth in Global Gaming
  • Operating income of $228 million; operating income margin of 22% at high end of outlook on substantial increase in Global Gaming profitability and resilience in Global Lottery margin
  • Adjusted EBITDA of $409 million, in line with prior year’s record level at constant currency as Global Gaming performance offsets Lottery discrete benefits in the prior year; 40% adjusted EBITDA margin remains among the highest in Company history
  • Recognized a non-operating expense of $150 million representing the probable loss associated with legal proceedings related to Double Down Interactive LLC and its social gaming business sold in 2017
  • Diluted EPS from continuing operations of $(0.02); Adjusted diluted EPS from continuing operations of $0.57, up 78% from the prior year
  • Compelling shareholder returns with $135 million deployed for cash dividends and share repurchases year-to-date
  • Tightening full-year 2022 revenue outlook to reflect currency movements and perimeter impact from previously announced divestiture; reconfirming operating income margin outlook as fundamentals remain strong


International Game Technology PLC reported financial results for the second quarter ended June 30, 2022. Today, at 8:00 a.m. EDT, management will host a conference call and webcast to present the results; access details are provided below.

“Strong customer and player demand for IGT’s products and solutions drove some of our strongest profit results ever in the second quarter and first half of the year,” said Vince Sadusky, CEO of IGT. “Our business profile is supported by significant recurring revenue streams backed by long-term contracts and resilient end markets, providing a solid foundation on which to grow. We are laser focused on executing our strategic objectives and creating compelling value for our stakeholders.”

“Our first half results set us firmly on the path to achieving our 2022 financial targets,” said Max Chiara, CFO of IGT. “Rigor on costs and incremental revenue opportunities allow us to maintain our full-year operating income margin outlook despite unfavorable currency movements and macroeconomic challenges. At the same time, we are returning significant capital to shareholders via dividends and share repurchases.”

Overview of Consolidated Second Quarter 2022 Results

Quarter Ended



All amounts from continuing operations

June 30,



($ in millions)

GAAP Financials:


 Global Lottery 



(11) %

(4) %

 Global Gaming



21 %

23 %

 Digital & Betting



1 %

4 %

Total revenue



(2) %

3 %

Operating income (loss)

Global Lottery



(23) %

(16) %

Global Gaming





Digital & Betting



(11) %

(10) %

Corporate support expense



(11) %

(26) %




3 %

2 %

Total operating income



(7) %

1 %

Operating income margin

22 %

23 %

Net cash provided by operating activities



(21) %

Cash and cash equivalents



5 %

Earnings per share – diluted



96 %

Non-GAAP Financial Measures:

Adjusted EBITDA

Global Lottery



(20) %

(13) %

Global Gaming



145 %

150 %

Digital & Betting



(7) %

(6) %

Corporate support expense



4 %

(14) %

Total Adjusted EBITDA



(7) %

(1) %

Adjusted EBITDA margin

40 %

4 %

Adjusted earnings per share – diluted



78 %

Free cash flow



(34) %

Net debt



(9) %

(1) Primarily includes purchase price amortization

Note: Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided at the end of this
news release

Key Highlights:

  • Recently completed acquisition of iSoftBet, a leading iGaming content provider and third-party aggregator, greatly expanding the Company’s proprietary content library and providing a world-class game aggregation platform
  • Won “Lottery Supplier of the Year” at 2022 SBC Awards North America in July
  • Introduced high-performing Money Mania wide area progressive game to commercial gaming jurisdictions following a successful launch in tribal casinos
  • Signed agreement with NUSTAR Resort & Casino to deploy IGT ADVANTAGE™ casino management system and a variety of leading games and cabinets
  • Announced expanded sports betting partnership with SuperBook® Sports to Tennessee, the fourth state where IGT’s PlaySports platform is powering the SuperBook Sports mobile betting app
  • Awarded a gold medal sustainability rating from EcoVadis, a leading sustainability rating agency
  • Recently released 2021 Sustainability Report which outlines the Company’s demonstrated environmental, social, and governance (ESG) performance

Financial Highlights:
Consolidated revenue of $1.02 billion, down 2% as reported, or up 3% at constant currency, from $1.04 billion in the prior year

  • Global Lottery revenue of $648 million compared to $725 million in the prior-year period, which included $70 million in prior-year benefits primarily from the closure of gaming halls in Italy
  • Global Gaming revenue increases 21%, or 23% at constant currency, to $330 million, driven by strong U.S. & Canada replacement unit demand, higher average selling prices, and increased installed base yields
  • Digital & Betting revenue of $43 million, stable with the prior year, as iCasino growth in the U.S. is partially offset by softness in other markets; North America sports betting market gross gaming revenue impacted by lower hold levels

Operating income of $228 million, down 7% as reported, or up 1% at constant currency, from $244 million in the prior-year period

  • Global Lottery operating income down, primarily due to about $60 million related to prior-year benefits referenced above
  • Global Gaming rises on higher revenue and profit flow through, partially offset by increased supply chain costs
  • Digital & Betting operating income of $8 million was relatively stable with the prior year

Adjusted EBITDA of $409 million matches prior year’s record level at constant currency; Adjusted EBITDA margin of 40% remains among the highest in Company history

Net interest expense of $75 million compared to $91 million in the prior year, driven by lower average debt balances and interest rates

During the second quarter, the Company recognized a pre-tax non-operating expense of $150 million ($114 million after tax) representing the probable loss associated with ongoing litigation (Benson v. Double Down Interactive LLC, No. 2:18-cv-00525 (W.D. Wash.)) and associated claims related to Double Down Interactive LLC and its social gaming business sold in 2017 by International Game Technology, a wholly-owned subsidiary of the Company

Income tax benefit of $11 million compared to a provision of $32 million in the prior year, primarily driven by recognition of the non-operating expense mentioned above and foreign exchange losses in the prior year with no tax benefit

Income from continuing operations of $34 million versus a loss from continuing operations of $39 million in the prior-year period, driven by income tax benefit, gains in foreign exchange, and lower debt retirement costs

Net loss attributable to IGT PLC of $4 million compared to net income of $306 million in the prior year due to gain on sale and income from discontinued operations in the prior-year period

Net loss from continuing operations attributable to IGT PLC per diluted share of $0.02 compared to a net loss from continuing operations attributable to IGT per diluted share of $0.48 in the prior year, on higher net income; adjusted net income per diluted share increased 78% to $0.57

Net debt of $5.7 billion compared to $5.9 billion at December 31, 2021; Net debt leverage of 3.5x was stable compared to December 31, 2021

Cash and Liquidity Update

  • Total liquidity of $2.1 billion as of June 30, 2022; $0.7 billion in unrestricted cash and $1.5 billion in additional borrowing capacity
  • Executed amendment and extension of revolving credit facilities in July 2022
    • Increased liquidity by $150 million to $1.83 billion and rebalanced EUR/USD mix to match operational exposure
    • Extended maturities to July 2027
    • Lowered interest margin and added ESG provision to allow for further potential reductions
    • Raised annual permitted restricted payments basket from $300 million to $400 million at current credit rating; potential to increase to $550 million

Other Developments
The Company’s Board of Directors declared a quarterly cash dividend of $0.20 per common share

  • Ex-dividend date of August 15, 2022
  • Record date of August 16, 2022
  • Payment date of August 30, 2022

Repurchased 750,000 shares for $15 million in the second quarter at an average price of $20.48 per share; 2.2 million shares repurchased for $54 million on a year-to-date basis at an average price of $24.89 per share

The Company expects to close on the sale of its Italian proximity payments/commercial services business in mid-to-late September

Tightening Full-year Revenue Outlook for Currency Rates and Business Disposition; Introducing Third Quarter 2022 Outlook
Full Year

  • Revenue of $4.1 billion – $4.2 billion
    • Lowered high end of range by $100 million
    • Reflecting changes in currency rates and impact from sale of Italian proximity payments/commercial services business in Q3’22
  • Operating income margin of 20% – 22% remains unchanged
  • Cash from operations of $850 – $950 million
    • Lowered high end of range by $50 million
    • Primarily driven by a working capital investment in higher inventory levels to proactively manage supply chain disruptions
  • Capital expenditures of approximately $350 million, lowered by $50 million to adjust for updated timing of spending
  • Free cash flow outlook remains unchanged

Third Quarter

  • Revenue of approximately $1.0 billion – $1.1 billion
  • Operating income margin of 18% – 20% includes approximately 150 – 200 basis point impact from project-related expenses

Outlook assumptions

  • EUR/USD exchange rate of 1.00 in the second half of 2022
  • Impact from sale of Italian proximity payments/commercial services business in mid-to-late September 2022
  • Operating income margin includes approximately 150 – 200 basis point impact from project-related and restructuring expenses expected in the second half of 2022


Why SiGMA CIS/Balkans: Your gateway into the future of iGaming



Why SiGMA CIS/Balkans: Your gateway into the future of iGaming
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Premiering for the first time in the Balkans between the 22nd and the 25th of this month, SiGMA is a global leader in everything iGaming. Growing exponentially since its original debut in 2014 in the iGaming nexus of Malta, the Summit has become an international hub for iGaming operators, affiliates, innovators, investors and entrepreneurs. This article will cover some of the main reasons why SiGMA is the expo the Balkans have been looking for.

Why SiGMA: Global network with a start-up’s heart

Growing from a local iGaming conference in 2014 to amassing 13,500 delegates, 800 sponsors and exhibitors as well as 400 speakers under one roof, SiGMA is ever-growing but remains ever entrepreneurial.

Geographically, the Summit now debuts on all four corners of the globe. From snowy Toronto to shining Dubai, the industry-leading expo has hosted all the big players in every part of the iGaming ecosystem. Beyond that, our network of industrial leaders, serial entrepreneurs, consummate investors and inspiring thought-leaders have led the charge on the future of the industry though our keynote speeches and panel discussions.


Why SiGMA: A hub of innovation and enterprise

Going above and beyond the present of the iGaming industry, SiGMA is well-known for being proactive and future-focused. The summit includes a healthy presence of Deep Tech operators, innovative technologists and visionary founders ready, willing and able to use the cutting edge of Blockchain, AI, Quantum Computing and more. From Quantum-empowered esports betting to crypto payment providers, SiGMA has everything you need to stay above the competition.

With SiGMA’s sister-summit, the AIBC Summit, debuting in parallel to SiGMA in the same venue, the Deep Tech potential is boundless. Focusing mainly on Blockchain and Artificial Intelligence but expanding to include IoT, Quantum Computing and several others, AIBC is a networking hub and thought-leadership platform for anyone seeking to get their foot into tomorrow’s technology.

Why SIGMA: A platform for start-ups

Present in both SiGMA and AIBC Summits, our Start-Up Pitches combine the best showmanship in the industry with the leading visionaries of the iGaming and Deep Tech ecosystems. Creating a competition wherein the best 100 start-up applicants in each industry challenge each other for the grand prize of up to $500,000 in equity investment and a portfolio of fringe benefits.

SiGMA is also partnered with the ever-innovative UK-based Venture Capital firm, Ikigai Ventures. Having a physical presence at every summit, the Ikigai lounge is the place to meet the best investors in the space.

Why SiGMA: World-class media exposure

With our reach being global, our media presence is equally international with a broad array of thought-leaders, C-Suite executives and visionaries leading the industry forward. From premier podcasts to a spot in the globally renowned SiGMA magazine, participating in the Summit is a quick-fire way to grow far beyond the Balkans.


Driven forward by our elite in-house media team for videographers, content specialists, documentary makers and reporters, SiGMA has mastered the art of giving our sponsors, exhibitors and pioneers their time in the limelight.

Why SiGMA: Network with the best in the business

As the saying goes, your network is your net-worth. To that end, SiGMA is a leading connector as well as the place to be seen. Join networking dinners and investor brunches with some of the leading minds in the industry, our delegates never leave a summit without striking new partnerships or making friends in high places. From respected regulators to serial entrepreneurs calling the Summit home, come and grow your network with us!


If you want to celebrate in style, our world-renowned Awards Night is the place to be. Letting the best and brightest get their chance in the limelight, the Awards Night is both a brilliant platform for our industry leaders as well as an incredible marketing opportunity for sponsors.

Interested now? Join us in Belgrade

Renowned for its beautiful scenery, delicious cuisine, rich culture, and penchant for parties, the Balkans have been sought after by both tasteful tourists and entrepreneurs with an eye on the growing iGaming ecosystem calling the region home. As the home to the global gaming community, the SiGMA Conference is known far and wide for its enlightening panels, inspiring speeches, ample opportunities to invest and network, and the ability to do it all while having the time of your life. Join us in Belgrade for the best the industry has to offer and for a window into the future of worldwide gambling. To learn more about sponsorship and speaking opportunities or to inquire about attending the event, please contact Sophie at sophie

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Veloce breaks half a million monthly views



Veloce breaks half a million monthly views
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Veloce, the UK-based next-gen sports ecosystem, has recorded over half a billion views across its YouTube channels in one month for the first time. The landmark continues the growth of the Veloce’s fanbase that can watch and support their favourite gamers and drivers as they compete around the world within one ecosystem.

  • In four years, monthly viewers have grown from 27,000 to 500m
  • In the last year alone, monthly viewing has grown 150% from 200m to 500m
  • Veloce’s new TikTok channel alone has 140m monthly views
  • 35m subscribers across Veloce channels on YouTube

Rupert Svendsen-Cook, CEO of Veloce Group, said: “To hit half a billion monthly views in under four years is special. With other channels like TikTok we are going over 640 million a month. That just shows you the appeal Veloce has but also the growth of Esports and other future focussed sports.

“We are talking about a huge, young audience, engaging with sports, both physical and digital, in a new and different way. We think it is the future of how fans will consume sports in the future, around the world. We are going to keep building that ecosystem for our fans and giving them the great content they want.”

Veloce, based in a studio in West London, have grown from their founding in 2018 as an Esports team with three employees to one of the fastest-growing modern media and sports rights holders in the UK with over 40 employees and teams competing at the cutting edge of the future of sports.

Veloce Group’s teams compete in future focussed sports, both physical and digital, championing sustainability and gender diversity. In motorsports, Veloce compete in Extreme-E – attracting partners like E.ON – and won the W Series last season with Jamie Chadwick.

In Esports, Veloce operates over 10 teams, both under the Veloce umbrella itself and across partner and joint venture operations, including Mercedes F1, McLaren, Quadrant (with F1 driver Lando Norris) and Yas Heat. Further, Veloce has over 60+ gamers competing across titles such as Official F1 Game, Forza, GT Sport, DiRT Rally and Project Cars.

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The most popular online gambling games in Italy: Find out which games you should play!



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Reading Time: 3 minutes


Italy has always had a love for gaming, from the ancient Romans and Greeks to the present day. The country is home to many modern game developers, publishers and distributors, as well as some of the world’s most passionate gamers. So it is not surprising that Italy also has one of the largest online gambling markets in Europe. With so many players, there are many online casino games to suit almost everyone’s taste. Here we list some of the most popular online gambling games in Italy, and a few suggestion to find the most rewarding ones, so you can start playing right away!

Tips to stay on top of trends in Online casino in Italy

Online casinos are known for an extraordinary rate of change of games and software. For this reason, players may find it challenging to keep up with new games and the best offer on all the platform available online. To complicate things, the Italian regulator ADM is quite strict on all the requirements of the licensed Italian Casino online that is why our tips is to look for non-aams sites. Non-aams follow regulation from regulatory bodies of other countries and you can find specialized sites that review them. Among others, one of our favorites is which also gives a glimpse of the kind of bonuses offered to the new players. As a rule of thumb, it is important that, whatever review site you choose to find the best Non AAMS casino online, it is updated and applies the HTTPS protocol which is a good indicator of safety. To attract new players they often hold special events with free play and other promotions, and they often inform players of upcoming events on social media so they can join in the fun.

Slot machines: You can’t help but love slot machines!

Slot machines are a popular choice for Italian players because they have many game variations to choose from. Slots also offer players the chance to win big thanks to a number of game features and bonuses, and they are usually free thanks to the many online casino operators that can be reached from Italy. The best offerings are found on specialized sites such as Spin Samurai and Boomerang Casino, which are part of the circuit of non-aams sites and therefore can afford more bonuses and higher payouts. Italian players can choose from a wide variety of casino games available online, including a wide range of slots. Popular online slots include: – Burning Ice 10 – Buffalo Trail Lite – Rocket Reels – Pinup Dolls – Rich of The Mermaid, among others.

Blackjack: a classic game of chance

Blackjack is a card game that involves a dealer and players competing against each other to see who can make the most cards of a specific suit (typically spades, hearts or diamonds). Blackjack is when the player’s card is higher than the dealer’s card but does not exceed 21. Winning at blackjack means betting on the probability of seeing certain cards and not betting on other cards that have a higher probability of being drawn. The game has been played for centuries and there are many variations of the rules that are played in different countries. Blackjack is a popular option for Italian players because it is also one of the most popular casino games in Europe. There are many online blackjack providers, including the popular 888Starz site that offers a variety of blackjack variants and options for Italian players.

Video Poker: For when you need a little bit of everything

Video poker is a game of chance in which the player chooses one of five cards to hold on the poker table and replaces them to create a new hand. The five cards are drawn from a stack that the player does not see. The goal is to get a poker hand composed of specific combinations of cards to get a win from the machine. There are many variations of video poker that offer different combinations of bonus rounds, wild cards, and game features, so players can choose whichever they prefer. Popular video poker games include Jacks or Better, Deuces Wild and Bonus Poker.

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