PROVIDENCE – International Game Technology PLC lost $838.7 million in 2020, compared with a $111.5 million profit in 2019, the company reported Tuesday.
Company revenue totaled $3.1 billion for the year, a decline of 23% from 2019.
“The solid results we achieved for this pandemic-impacted year have given us momentum into 2021. They are a result of the vision, agility and discipline of the IGT team as well as the distinct advantages of our diverse portfolio,” said Marco Sala, CEO of IGT. “We also made important strategic progress. The company undertook a comprehensive reorganization to sharpen our focus on our core competencies and drive structural operational efficiencies. This provides a clear path to increasing shareholder value as we build on our leadership positions with a stronger revenue and profit growth profile.”
The company’s revenue in the U.S. and Canada declined 22% year over year to $1.7 billion. Revenue in Italy declined 12% year over year to $862 million and revenue for the rest of the world declined 40% year over year to $505 million, the company said.
Fourth-quarter revenue totaled $885 million, a 15% decline year over year. Quarterly losses totaled $220.1 million, compared with a loss of $138.4 million one year prior.
