Revenues Up At I.g.t.

REVENUES UP AT I.G.T.

07th November, 2013 at 10:08:03
Source: http://www.azonlinecasinos.com

Social gaming helps boost Q3 income.

The USA land and online gambling company International Game Technology has posted its Q3-2013 results, highlighting the following achievements for fiscal 2013 (IGT Q2 2013 results):

* Total revenues increased 9% over the same period last year to $2.34 billion, with social gaming a major contributor.

* Social gaming revenues increased 151% to $219 million and average bookings per daily active user grew 42% to $0.37

* Adjusted earnings per share from continuing operations increased 22% to $1.27

* Returned $270 million to shareholders in the form of share repurchases and dividends

* Company intends to enter into a $200 million accelerated share repurchase agreement, further demonstrating its continued commitment to shareholder returns.

* For fiscal 2013, North American revenue increased 12% to $1.84 billion and international revenue was flat at $507 million.

* Free cash flow increased 41% to $335 million due to lower capital expenditures in gaming operations.

Results for the interactive division of the company included:

* Social gaming revenues increased 72% to $61 million in the fourth quarter compared to the prior year quarter.

* Average DAU on DoubleDown operations were 1.7 million, an increase of 20% over the prior year quarter.

* Average monthly users were 6.7 million, an increase of 32% compared to the prior year quarter.

* Average bookings per DAU was $0.40, an increase of 43% over the same quarter last year.

IGT chief executive Patti Hart said:

"We continue to drive significant revenue and earnings per share growth through the successful execution of our strategy and disciplined approach to capital allocation. Our goal, as always, is to maximize our returns to shareholders through targeted share repurchases, consistent dividends and robust earnings growth."

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