IGT reported $1.1 billion in revenue for the first quarter of 2022, up 4% from the previous year. The provider explained that the increase in revenue was due to increased product sales, indicating that revenue and profit for the quarter were at levels that are unprecedented in their history.
The company also reported an operating income of $252 million and an income margin of 24 percent, 200 basis points higher than their forecast.
IGT’s adjusted EBITDA of $433 million matched what they hit in 2021, which was a record, and the adjusted EBITDA margin of 41 percent was among the highest ever reported by the company in all its years of operation. IGT also paid out $80 million in cash dividends and stock repurchases to its investors, setting a new high for return on investment for the second quarter in a row.
If you dwell further into the stats however, things didn’t always look so good. IGT’s operating income fell 3% year over year to $252 million, while revenue from its Global Lottery unit fell from $749 million in Q1 2021 to $680 million this year.
IGT also extended its deal with the Missouri Lottery and signed a multi-year instant ticket agreement with Lotto Baden-Württemberg in Germany this quarter.
IGT’s PlayCasino Available in Newly Regulated North American Markets
Amongst the selection of products offered by IGT is PlayCasino, providing a comprehensive games library, packed with top quality, cutting-edge games, each of which keeps the player’s gaming experience as a top priority. Boasting of game studios scattered globally, IGT brings top-ranking, branded titles and classic favorites. From free spins on registration with no deposit to the best online table games available in the market, all of their games are created fully-optimized to mobile devices, guaranteeing a gaming experience that’s unmatched. PlayCasino games have now been released in some new markets such as West Virginia and the lucrative market of Ontario.
CEO of IGT, Vince Sadusky, seemed delighted with the spike in revenue. He commented that the results of Q1 demonstrated the value of the company’s product catalogue. He also stated that the current quarters higher than expected income margin was a sign of the iGaming industry getting back to its feet and getting back to how it was prior to Covid-19.
He further attributed the increased income margin to higher levels of lottery play. Sadusky also took the opportunity to point out that IGTs simple corporate hierarchy yields high liquidity as the firm continues to invest in product development and offer investors a higher ROI.
An Overview of Two of IGTs Most Popular Slots
Stinkin’ Rich Skunks Gone Wild: If you’re an IGT game fan, you’ve surely heard of IGTs highly popular game, Stinkin’ Rich. This game was a total crowd pleaser and IGT have now come out with a worthy sequel which they call “Stinkin’ Rich Skunks Gone Wild”.
In the original Stinkin’ Rich game, there were 100 lines and the player could choose how many they wanted to wager on for every spin. The sequel too lets you pick from a few presets – 50 lines, 75 lines, or 100 lines. Additionally, if you splurge out another 25 coins the Gold Bet is tagged along to your spin and this opens up the possibility of progressives and lots of random wild symbols.
Unlike the original Stinkin’ Rich, Skunks Gone Wild features a simplified 5 reels * 5 rows. If you’ve got the gold bet option enabled and you happen to land all wilds on the 15 spaces on the 3 reels in the center, you’ve basically hit the jackpot! The progressive is $1,000 multiplied by the line multiplier plus the amount the progressive has been increased by.
Overall, the sequel takes everything that made the original a favorite and retains it while adding some new and exciting features to further accentuate the game. The random wilds feature is not highly volatile and yet can result in some massive wins.
Family Guy: As the name suggests, this IGT slot is inspired by Seth MacFarlane’s hit adult animated TV show – Family Guy. If you love Peter Griffin and the hilarious situations he and his family find themselves in, you will thoroughly enjoy IGTs Family Guy slot. All the main characters from the show are featured on this slot game and they each deliver some of their most iconic dialogue’s.
The reel set is uncomplicated, a standard 5*3 makes it easy to play and the learning curve is virtually non-existent. There are 30 paylines and you can adjust the bet value from 0.50 coins all the way to 1500 coins per spin, making it a suitable game for a variety of budgets. The most you could theoretically win in a single spin is 250,000 times your stake which is impressive for a non-progressive slot. While the theme is one of the main reasons for the popularity and success of this slot, there is more to it than the fact that it is themed around Family Guy. In terms of bonus features, this game packs a real punch. In fact, there are so many bonus features that they are basically divided into two main categories – Griffin Family Features and The World Bonus Features.