PROVIDENCE – International Game Technology PLC on Tuesday reported a $111.7 million profit in 2019, a 2.6% decline year over year, according to a company filing.
Total revenue for the company was $4.79 billion, down slightly from $4.83 billion.
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North American operating revenue totaled $1.2 billion for the year, including $1 billion in lottery revenue and $153 million in gaming revenue. The regional revenue figure marked a 2% decline year over year. Operating revenue for the region declined 14% year over year to $256 million.
North American same-store lottery growth declined 0.6% year over year. The company had 13,553 video lottery terminals in North America at the end of 2019, a 9.3% decline year over year.
The company’s international market revenue increased 2% year over year to $840 million, while operating revenue declined 11% to $127 million.
The company’s Italy segment had revenue of $521 million, a 4% decline year over year. Operating income declined 6% to $1.7 billion in that time.
“We achieved the high end of our profit and cash flow expectations for 2019, led by strong results for our North America Gaming and Italy segments,” said Marco Sala, CEO of IGT. “In the full year, we grew global gaming product sales by more than 20% thanks to higher unit shipments and the success of our new games. Global lottery same-store revenue also rose. We are closely monitoring the impact of the coronavirus outbreak. Apart from this, solid operational performance across products and regions should support continued momentum in 2020.”
The company said that loss attributable to the company, including results of noncontrolling interests, was $19 million for the year.
In the fourth quarter, IGT had $1.3 billion in revenue, a 1% decline year over year and a loss of $138.3 million, compared with a loss of $70.1 million in the fourth quarter of 2018.
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
