Player demand stayed strong in the first months of 2025. But International Game Technology (IGT) saw its bottom line hit by weaker jackpot activity and foreign exchange losses. Still, IGT Q1 2025 results reflect stable performance in its lottery business.

  • Revenue came in at $583 million, down from $661 million in Q1 2024. The decline was linked to fewer U.S. multi-state jackpots and a slowdown in terminal sales. Normalized global same-store sales, however, rose 1.4%.

  • Adjusted EBITDA was $250 million, down from $327 million in the prior-year period. The margin stood at 42.8%, showing IGT’s lottery model remains profitable. The drop mainly reflected fewer high-margin jackpots and rebranding costs.

  • Net income from continuing operations was $8 million, sharply down from $116 million in Q1 2024. A $33 million non-cash foreign exchange loss played a key role in this result. Reduced interest and tax expenses helped soften the impact.

  • Diluted loss per share from continuing operations was $0.11, compared to positive $0.35 a year ago. Adjusted diluted EPS was $0.09, down from $0.28. The lower income came from operating pressures, although financing costs improved.

  • Liquidity remained solid with $2.2 billion in available funds. This included $0.6 billion in cash and $1.5 billion in credit facility headroom. The company also closed a €1 billion term loan, half of which is reserved for potential Italy Lotto license fees.

  • Net debt increased slightly to $5.0 billion, including a $130 million FX impact. Leverage stood at 2.8x, adjusted for a $2 billion debt reduction planned after the Gaming & Digital sale closes.

  • The company confirmed a quarterly dividend of $0.20 per share. The record date is May 29, 2025, and payment is due June 12, 2025. This continues IGT’s policy of shareholder returns.

  • Full-year revenue is now forecast at $2.55 billion, with Adjusted EBITDA at $1.10 billion. IGT expects to use around $350 million in cash for the year, mainly due to FX impacts tied to the Italy Lotto license. CEO Vince Sadusky said, “We are excited about the initiatives we are working on to drive sustainable, long-term growth.”

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