Global Gaming Giant, International Game Technology (IGT), has demonstrated significant progress in its environmental stewardship, achieving a “B” score from CDP, a prominent non-governmental organization that evaluates corporate environmental accountability and performance. This grade positions IGT higher than the industry standard and signifies an enhancement from its 2021 assessment. The firm’s commitment to minimizing its environmental impact is apparent in its comprehensive ecological management framework. Wendy Montgomery, IGT’s Senior Vice President of Marketing, Communications, and Sustainability, highlighted the company’s dedication to this endeavor, remarking, “IGT acknowledges its obligation to formulate strategies to lessen our environmental footprint.”
This pledge transcends IGT’s internal operations, impacting its client interactions and sector norms. The CDP evaluation provides stakeholders with confidence that sustainability is completely interwoven into IGT’s business model.
Beyond its environmental accomplishments, IGT announced robust financial outcomes for the third quarter of 2022, with earnings reaching $1.06 billion, an 8% rise compared to the corresponding period in 2021. This expansion was driven by solid performance across all business units, especially its international gaming segment, which experienced a noteworthy 31% year-on-year surge, producing $379 million in revenue.
The worldwide lottery industry witnessed a 4% decrease, reaching $626 million. Conversely, the online and wagering segments flourished, expanding by 27% to hit $54 million.
This organization reported $211 million in earnings for the third quarter of 2022, attaining a robust 20% operating profit margin. Their modified EBITDA (earnings before interest, taxes, depreciation, and amortization) hit $402 million, driven by solid profitability in their international lottery division and substantial expansion in their global gaming ventures.