Covid-19 impairment charges see IGT post Q1 loss

18 May 2020

International Game Technology (IGT)’s revenue declined 17.9% to $940.2m in the first quarter of 2020, while a $296m impairment charge related to the effects of the novel coronavirus (Covid-19) saw the supplier post a loss for the period.nternational Game Technology (IGT)’s revenue declined 17.9% to $940.2m in the first quarter of 2020, while a $296m impairment charge related to the effects of the novel coronavirus (Covid-19) saw the supplier post a loss for the period.

Of IGT’s $940m in revenue for the three months to 31 March, $783m came from services, down 21.0%. A further $157m of revenue came from product sales, up 2.0% year-on-year.

Of its main verticals, lottery was the largest driver of revenue, bringing in $444m, down 17% year-on-year. Of this figure, $412m came from lottery services, down 20%, while $32m came from lottery product sales, up 76%.

IGT made $393m in revenue through its gaming division, down 24%. Gaming services made up $269m of this, a 29% year-on-year decline, while $124m came from gaming product sales.

Read more on iGB North America.