International Game Technology or as it is also known IGT has been quite active in its new business and partnership ventures since the beginning of this year, as it could be seen by its recent interactions in the gambling industry. This is also evident by the total revenue data which was issued this week by the gaming and lottery supplier, which confirmed that during the last three months of 2017 the company has amassed some US$1.35 billion. In comparison to its performance for the same time period of 2016, this equals a 1.9-percent jump.
This stellar performance over the holiday season of last year is something which boosted forwards the total revenue figures, but what also helped was also the steady levels of sales on an international scale as well as the good performance of the lottery software segment of the company. During the last three months of 2017 IGT witnessed a 40.5-percent increase of its operating income, which brought the figures to US$193.9 million. Some of the factors which added up to the beneficial status of the gambling entity were also the sports betting results which Italian players demonstrated, as well as the lower operating expenses, which are always a booster to the performance of a given company.
Development and Partnerships of IGT
However, over the fourth quarter of 2017 IGT saw net income amounting to some US$79.7 million, which meant a significant drop in comparison to the last three months of 2016 when the company reached some US$233.3 million. In the meantime, in the following months, the company has been focusing on further developing and improving its operation, one of the ways being the expansion of its printing facility located in Lakeland, Florida. IGT with its lottery ticket provider status has decided to improve its ticket printing facility and add 45,000 square feet to it in order to provide more instant ticket production space.
The region of Central Florida relies on the working positions this facility offers to locals and the news were welcomed with enthusiasm. This year will see the addition of 60 new job roles within the company’s structure, while the long-term plans call for a 24-percent increase in the full-time employment number by 2021. The last days of February also brought the news that IGT has entered a partnership with the South Carolina Education Lottery with the help of a contract.
Over the span of next ten years IGT’s subsidiary IGT Global Solutions Corporation will supply the state lottery with a new draw-based central system, as well as lottery terminals, communications network, and ongoing services. With the help of its extensive experience in the gaming industry, IGT will be able to offer the back-office systems in order to propel ahead the net proceeds and the overall performance of the lottery. As it was confirmed, the 13th May is going to see the official launch of the new offerings to the public.