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IGT Revenues Up

Wednesday July 25,2012 :  INTERACTIVE BUSINESS HELPS BOOST IGT THIRD QUARTER
 
Double Down acquisition starts to pay its way.
 
International Game Technology's third quarter results posted Tuesday show that the company's increasing presence in the online and interactive environment is starting to pay dividends, boosting revenues.
 
The primarily land casino supply company highlighted the following Q3 2012 numbers, comparing these with the same period in 2011:
 
* Revenues increased 9 percent to $533 million in the third quarter, primarily due to the interactive businesses and North America machine sales.
 
* Gaming operations revenues increased 13 percent to $301 million in the third quarter, primarily due to increases in the interactive businesses. Excluding the interactive businesses, revenues were flat.
 
* Revenue from product sales rose 5 percent to $231.6 million
 
* Net income fell 49 percent to $46.9 million.
 
* A 40 percent increase in total operating expenses to $207.1 million was mostly attributable to interactive operations.
 
* Gross margin decreased to 59 percent from 62 percent in the third quarter, primarily due to the inclusion of the interactive businesses and lower MegaJackpots yields.
 
* Excluding the positive impact from the interactive businesses, average revenue per unit per day in the third quarter was $50.20, down 4 percent sequentially and 7 percent over the prior year quarter, mainly due to lower MegaJackpots yields and a higher mix of lower-yielding units in the installed base.
 
* Double Down bookings per daily user were $0.25 in the third quarter compared to $0.24 in the second quarter subsequent to acquisition.
 
* Double Down monthly users were 5.2 million as of June 30, 2012, a decrease of 7 percent when compared to March 31, 2012.
 
Patti Hart, CEO of IGT, commented: “Our third quarter revenue growth and strong cash flows are reflective of our diverse business model. Against the backdrop of an inconsistent global economic recovery, we are generally pleased with this quarter’s results and remain on track to meet our fiscal year 2012 financial goals.
 
“The recent announcement of our $1 billion share repurchase is further evidence of our confidence in the outlook for IGT.”



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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