Giant Slot & Games Provider IGT Projects Incredible Growth For 2021
IGT or International Game Technology is one of the most successful and popular global designers, manufacturers, and suppliers of expert casino gaming machines, serving the needs of the gaming floors in Australia, New Zealand, the US, as well as others parts of the world for years. This international manufacturer of poker machines and games has already reached some pretty impressive results in the second quarter of 2021, managing to boost its outlook for the entire year.
Official expectations speak about IGT going over the 2019 numbers, even though its New York Stock Exchange metrics seem to be going down.
Who Is IGT?
IGT is the creator of the world-famous Wheel of Fortune slot machine game that is incredibly popular in the US and Australia where it has created more millionaires than any other casino brand on the planet. However, IGT is also known for its remarkably extensive lottery, digital gaming, and sports betting products, on top of its oftentimes unparalleled services covering standalone games and in-house titles. Their vast gaming list includes anything from high to low denomination wagering options to modular systems and solutions that are solely designed with the fervent player in mind. IGT products continue to do an amazing job at boosting revenue streams. This is done with the help of state-of-the-art casino poker machines featuring fully controllable parameters for fine-tuning the most unforgettable gaming experiences for passionate gamblers.
Video reel, video poker, mystery progressive, spinning reel, or multiplayer are just a few of the options you can find at any top casino powered by IGT.
Surprising IGT Metrics For 2021
IGT has recorded a whopping billion-dollar revenue during its June quarter, surging 74% compared to the previous quarter. Also, its earnings prior to tax, interest, and depreciation went up by 170%, reaching a mind-blowing record amount of $442 million.
Supplier stocks appear to be some of the best-performing types of stocks related to gaming for 2021, surpassing land venue operators. Accordingly, plenty of stock exchange analysts projected confident data regarding the way IGT will manage to beat its second-quarter estimates. The company has already managed to generate no less than $500 million in total cash flow as well as a record figure of $380 million in terms of free cash flow during the first six months of 2021. These are all suggestive signs that IGT is really using up all that elbow grease to significantly improve its balance sheet.
The IGT outlook in terms of its forecasted revenue during the second half of the year speaks of $2 billion in relation to its operating income from its ongoing operations worth $300 million. The respective projection does not take into account any possible restrictions that might be triggered by the Covid-19 pandemic we are still confronted with.
IGT is thus getting ready to go over its 2019 figures, along with many other similarly prestigious gaming companies in the US and other parts of the world. Why is this important for the gaming industry? The great majority of investors and financial analysts have labeled 2020 as a “lost year” since it was the year when the crisis began and the profits and revenues dropped suddenly. This means they found no relevance in measuring and comparing 2021 results with 2020 figures. Instead, they decided it would be best to compare 2019 figures with 2021, measuring the way this company as well as other big names in the industry would manage to get back to the same profits and sales figures recorded a couple of years ago.
IGT is using its lottery strength to go back to the profitability level prior to the rise of the pandemic, and its 35% increase in in-store sales has already helped them boost their international revenue close to 60%, reaching $725 million during the second quarter of 2021.
The fact that the company has also won the patent that would let gamblers use cryptocurrencies to play slots machine games at the beginning of the year has helped its NYSE shares to skyrocket.
Try The IGT Experience
IGT’s specialty is represented by free slot games that do not require making any downloads or registration for both mobile and desktop computer users. They display a rich selection of no deposit bonus games, as well as free spins games and titles topped with bonus rounds and some of the most exquisite gaming interfaces you will come across online. Search for IGT games at top casinos online and keep an eye on the freshest releases from this stellar provider with an RTP that goes over 98.8%.