Latest News

INTERNATIONAL GAME TECHNOLOGY PLC REPORTS SECOND QUARTER 2022 RESULTS

Published

3 years ago

August 4, 2022

George Miller

Reading Time: 6 minutes

Revenue of $1.02 billion, down 2% as reported and up 3% at constant currency, led by 23% growth in Global Gaming
Operating income of $228 million; operating income margin of 22% at high end of outlook on substantial increase in Global Gaming profitability and resilience in Global Lottery margin
Adjusted EBITDA of $409 million, in line with prior year’s record level at constant currency as Global Gaming performance offsets Lottery discrete benefits in the prior year; 40% adjusted EBITDA margin remains among the highest in Company history
Recognized a non-operating expense of $150 million representing the probable loss associated with legal proceedings related to Double Down Interactive LLC and its social gaming business sold in 2017
Diluted EPS from continuing operations of $(0.02); Adjusted diluted EPS from continuing operations of $0.57, up 78% from the prior year
Compelling shareholder returns with $135 million deployed for cash dividends and share repurchases year-to-date
Tightening full-year 2022 revenue outlook to reflect currency movements and perimeter impact from previously announced divestiture; reconfirming operating income margin outlook as fundamentals remain strong

International Game Technology PLC reported financial results for the second quarter ended June 30, 2022. Today, at 8:00 a.m. EDT, management will host a conference call and webcast to present the results; access details are provided below.

“Strong customer and player demand for IGT’s products and solutions drove some of our strongest profit results ever in the second quarter and first half of the year,” said Vince Sadusky, CEO of IGT. “Our business profile is supported by significant recurring revenue streams backed by long-term contracts and resilient end markets, providing a solid foundation on which to grow. We are laser focused on executing our strategic objectives and creating compelling value for our stakeholders.”

“Our first half results set us firmly on the path to achieving our 2022 financial targets,” said Max Chiara, CFO of IGT. “Rigor on costs and incremental revenue opportunities allow us to maintain our full-year operating income margin outlook despite unfavorable currency movements and macroeconomic challenges. At the same time, we are returning significant capital to shareholders via dividends and share repurchases.”

Overview of Consolidated Second Quarter 2022 Results

	Quarter Ended		Y/Y Change (%)	Constant Currency Change (%)
All amounts from continuing operations	June 30,
	2022	2021
($ in millions)
GAAP Financials:
Revenue
Global Lottery	648	725	(11) %	(4) %
Global Gaming	330	274	21 %	23 %
Digital & Betting	43	42	1 %	4 %
Total revenue	1,021	1,041	(2) %	3 %

Operating income (loss)
Global Lottery	230	300	(23) %	(16) %
Global Gaming	57	1	NM	NM
Digital & Betting	8	9	(11) %	(10) %
Corporate support expense	(29)	(26)	(11) %	(26) %
Other⁽¹⁾	(39)	(40)	3 %	2 %
Total operating income	228	244	(7) %	1 %
Operating income margin	22 %	23 %

Net cash provided by operating activities	196	249	(21) %

Cash and cash equivalents	673	639	5 %

Earnings per share – diluted	$(0.02)	$(0.48)	96 %

Non-GAAP Financial Measures:
Adjusted EBITDA
Global Lottery	330	414	(20) %	(13) %
Global Gaming	87	35	145 %	150 %
Digital & Betting	12	13	(7) %	(6) %
Corporate support expense	(20)	(21)	4 %	(14) %
Total Adjusted EBITDA	409	442	(7) %	(1) %
Adjusted EBITDA margin	40 %	4 %

Adjusted earnings per share – diluted	$0.57	$0.32	78 %

Free cash flow	117	176	(34) %

Net debt	5,722	6,312	(9) %

⁽¹⁾Primarily includes purchase price amortization

Note: Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided at the end of this
news release

Key Highlights:

Recently completed acquisition of iSoftBet, a leading iGaming content provider and third-party aggregator, greatly expanding the Company’s proprietary content library and providing a world-class game aggregation platform
Won “Lottery Supplier of the Year” at 2022 SBC Awards North America in July
Introduced high-performing Money Mania wide area progressive game to commercial gaming jurisdictions following a successful launch in tribal casinos
Signed agreement with NUSTAR Resort & Casino to deploy IGT ADVANTAGE™ casino management system and a variety of leading games and cabinets
Announced expanded sports betting partnership with SuperBook^® Sports to Tennessee, the fourth state where IGT’s PlaySports platform is powering the SuperBook Sports mobile betting app
Awarded a gold medal sustainability rating from EcoVadis, a leading sustainability rating agency
Recently released 2021 Sustainability Report which outlines the Company’s demonstrated environmental, social, and governance (ESG) performance

Financial Highlights:
Consolidated revenue of $1.02 billion, down 2% as reported, or up 3% at constant currency, from $1.04 billion in the prior year

Global Lottery revenue of $648 million compared to $725 million in the prior-year period, which included $70 million in prior-year benefits primarily from the closure of gaming halls in Italy
Global Gaming revenue increases 21%, or 23% at constant currency, to $330 million, driven by strong U.S. & Canada replacement unit demand, higher average selling prices, and increased installed base yields
Digital & Betting revenue of $43 million, stable with the prior year, as iCasino growth in the U.S. is partially offset by softness in other markets; North America sports betting market gross gaming revenue impacted by lower hold levels

Operating income of $228 million, down 7% as reported, or up 1% at constant currency, from $244 million in the prior-year period

Global Lottery operating income down, primarily due to about $60 million related to prior-year benefits referenced above
Global Gaming rises on higher revenue and profit flow through, partially offset by increased supply chain costs
Digital & Betting operating income of $8 million was relatively stable with the prior year

Adjusted EBITDA of $409 million matches prior year’s record level at constant currency; Adjusted EBITDA margin of 40% remains among the highest in Company history

Net interest expense of $75 million compared to $91 million in the prior year, driven by lower average debt balances and interest rates

During the second quarter, the Company recognized a pre-tax non-operating expense of $150 million ($114 million after tax) representing the probable loss associated with ongoing litigation (Benson v. Double Down Interactive LLC, No. 2:18-cv-00525 (W.D. Wash.)) and associated claims related to Double Down Interactive LLC and its social gaming business sold in 2017 by International Game Technology, a wholly-owned subsidiary of the Company

Income tax benefit of $11 million compared to a provision of $32 million in the prior year, primarily driven by recognition of the non-operating expense mentioned above and foreign exchange losses in the prior year with no tax benefit

Income from continuing operations of $34 million versus a loss from continuing operations of $39 million in the prior-year period, driven by income tax benefit, gains in foreign exchange, and lower debt retirement costs

Net loss attributable to IGT PLC of $4 million compared to net income of $306 million in the prior year due to gain on sale and income from discontinued operations in the prior-year period

Net loss from continuing operations attributable to IGT PLC per diluted share of $0.02 compared to a net loss from continuing operations attributable to IGT per diluted share of $0.48 in the prior year, on higher net income; adjusted net income per diluted share increased 78% to $0.57

Net debt of $5.7 billion compared to $5.9 billion at December 31, 2021; Net debt leverage of 3.5x was stable compared to December 31, 2021

Cash and Liquidity Update

Total liquidity of $2.1 billion as of June 30, 2022; $0.7 billion in unrestricted cash and $1.5 billion in additional borrowing capacity
Executed amendment and extension of revolving credit facilities in July 2022
- Increased liquidity by $150 million to $1.83 billion and rebalanced EUR/USD mix to match operational exposure
- Extended maturities to July 2027
- Lowered interest margin and added ESG provision to allow for further potential reductions
- Raised annual permitted restricted payments basket from $300 million to $400 million at current credit rating; potential to increase to $550 million

Other Developments
The Company’s Board of Directors declared a quarterly cash dividend of $0.20 per common share

Ex-dividend date of August 15, 2022
Record date of August 16, 2022
Payment date of August 30, 2022

Repurchased 750,000 shares for $15 million in the second quarter at an average price of $20.48 per share; 2.2 million shares repurchased for $54 million on a year-to-date basis at an average price of $24.89 per share

The Company expects to close on the sale of its Italian proximity payments/commercial services business in mid-to-late September

Tightening Full-year Revenue Outlook for Currency Rates and Business Disposition; Introducing Third Quarter 2022 Outlook
Full Year

Revenue of $4.1 billion – $4.2 billion
- Lowered high end of range by $100 million
- Reflecting changes in currency rates and impact from sale of Italian proximity payments/commercial services business in Q3’22
Operating income margin of 20% – 22% remains unchanged
Cash from operations of $850 – $950 million
- Lowered high end of range by $50 million
- Primarily driven by a working capital investment in higher inventory levels to proactively manage supply chain disruptions
Capital expenditures of approximately $350 million, lowered by $50 million to adjust for updated timing of spending
Free cash flow outlook remains unchanged

Third Quarter

Revenue of approximately $1.0 billion – $1.1 billion
Operating income margin of 18% – 20% includes approximately 150 – 200 basis point impact from project-related expenses

Outlook assumptions

EUR/USD exchange rate of 1.00 in the second half of 2022
Impact from sale of Italian proximity payments/commercial services business in mid-to-late September 2022
Operating income margin includes approximately 150 – 200 basis point impact from project-related and restructuring expenses expected in the second half of 2022

Latest News

BC.GAME Launches CFN 2025 Betting Markets Ahead of December 5 Dubai Event

Published

6 minutes ago

December 4, 2025

Master Editor

Crypto Fight Night 2025 is set to take place in Dubai on December 5, with the full fight card now confirmed. As the event’s Exclusive Gaming Partner, BC.GAME has listed CFN odds under BC.GAME Specials, with a clear and simple Winner market as the core option, allowing players to back the fighters they believe will get the job done before fight night.

Main event: Tactical Investing vs Barney

The headliner is Tactical Investing vs Barney at 85kg ±2, scheduled for three rounds of two minutes with 14oz gloves. American debutant Alexander “Tactical Investing” Bannister steps in against UK fighter Louis “Barney” Smith, who brings a 2–1 record. One side offers physical tools and the unknowns of a first outing; the other arrives with live ring experience and proven results.

In BC.GAME Specials, this main event is available on the Winner market. The page shows the two fighter names, fight time, and their respective prices. Players can simply use their read on form and style to decide who they think will come out on top and place their pre-fight bets accordingly. As the final bout of the night, it’s also the most natural place to start a CFN betting slip.

Heavyweight clashes: big frames, short distance

Heavyweight action is another key draw on this CFN card. Several bouts sit in the 94–105kg / 210lbs+ range with a three-round format, including matchups such as Primetimeindy vs White Boy Summer (210lbs ±10) and Majestic Drama vs NFT Kid (220lbs ±3). Higher weight and shorter distance mean every clean shot has the potential to swing the result.

With the Winner market in focus, the betting logic stays straightforward: looking at size, power, recent form and approach, deciding who is more likely to have the upper hand in exchanges, then see whether the current price matches the expectations before choosing a side. For fans who enjoy heavy punches and momentum swings, these fights naturally become must-watch and often must-bet moments on the card.

Women’s bout and statement matchups: higher tempo, clear identities

The women’s bout on the card is Crypto Queen vs Blonde Broker at 56kg ±2 over 3×2 minutes. The shorter rounds and higher tempo put a premium on footwork, timing, and clean combinations. On the Winner market, many players will focus on who manages distance, rhythm and shot selection more convincingly, then align their pick with the odds on offer.

The card also includes several matchups with very distinct identities, such as The Iron Brit (ElliotLFG) vs Kimchi Papi. These pairings come with built-in narrative and stylistic contrasts, making them well suited to informed, opinion-driven betting: the more user understands about a fighter’s background, approach, and in-ring personality, the easier it is to choose a side and let a single ticket plug user into that storyline for the night.

How CFN appears on BC.GAME

CFN odds are currently grouped under BC.GAME Specials – Crypto Fight Night. Once players enter this section, they’ll see the matchups laid out as individual fight cards featuring:

Both fighter names for each bout;
The event date and basic fight details;
The corresponding Winner

As this year’s Exclusive Gaming Partner, BC.GAME uses these dedicated CFN markets to connect what happens in the ring with the choices on each betting slip, making sure Crypto Fight Night 2025 feels like a complete experience from the moment players start taking positions to the final bell.

About Crypto Fight Night

Crypto Fight Night (CFN) is a combat sports IP that brings together boxing and the crypto world. Professional fighters share the stage with figures from cryptocurrency, blockchain and Web3, combining live action, storytelling and community participation to showcase decentralized culture in mainstream venues.

About BC.GAME

BC.GAME is a crypto-native online entertainment platform that brings games, sports and content under one roof, delivering a variety of interactive experiences for users worldwide. Built with Web3 audiences in mind, the platform supports multiple digital assets and allows users to follow live events, explore sports products and place bets within a single ecosystem.

Contact

Pr manager

Olivia Dixon

BC.GAME

[email protected]

Alexander Kamenetskyi Head of SOFTSWISS Sportsbook

The SOFTSWISS Sportsbook Wins SiGMA South Asia Awards 2025

Published

6 minutes ago

December 4, 2025

George Miller

the-softswiss-sportsbook-wins-sigma-south-asia-awards-2025

Reading Time: 2 minutes

The SOFTSWISS Sportsbook has been named Best Online Sportsbook Provider at the SiGMA South Asia Awards 2025. The awards ceremony took place on 30 November in Colombo, Sri Lanka, recognising outstanding achievement and meaningful contributions to the region’s iGaming landscape.

This award comes at a milestone moment for the SOFTSWISS Sportsbook, which has just marked its fifth anniversary. Built on a flexible, platform-agnostic architecture, the solution seamlessly integrates with any casino platform on the market in under 14 days.

Alexander Kamenetskyi, Head of SOFTSWISS Sportsbook, celebrates the milestone: “Winning Best Online Sportsbook Provider in South Asia is meaningful because it reflects the trust and results we deliver for operators in one of the world’s fastest-growing betting regions. Our priority is to give clients a stable, scalable platform backed by reliable technology and strong service support. This award shows that our approach works perfectly.”

Coming in the same year as the product’s fifth anniversary, this milestone follows a series of significant achievements in 2025, including:

The launch of the industry’s first Sportsbook Network Jackpot, with a prize of over 80,000 euro from a 166 euro combo bet with total odds of 4.38.
A major technical overhaul of API 2.0, enabling faster onboarding and more scalable integrations.
A renewed CMS, giving operators deeper control over content, branding, and event management.

Beyond daily operations, the SOFTSWISS Sportsbook team is actively shaping the future of the betting industry. In the recently released 2026 iGaming Trends report, the team shares its insights on emerging microtrends, including the rise of microbetting and the increasing integration of sportsbooks into online casino projects.

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Casino Platform, the Game Aggregator with over 36,700 casino games, Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post The SOFTSWISS Sportsbook Wins SiGMA South Asia Awards 2025 appeared first on European Gaming Industry News.

Dynamo’s Show

Just Slots Takes Centre Stage with New Circus-Themed Slot ‘Dynamo’s Show’

Published

6 minutes ago

December 4, 2025

George Miller

just-slots-takes-centre-stage-with-new-circus-themed-slot-‘dynamo’s-show’

Reading Time: 2 minutes

Just Slots, the Malta-based iGaming software developer, has announced the exclusive launch of its newest title, Dynamo’s Show, available today on Gamdom and Stake. A full network release will follow on 11 December 2025. This vibrant new slot transforms the classic Hold & Collect experience into a full theatrical performance, inviting players into a colourful mechanical circus led by a charismatic robot ringmaster and his fearless hamster assistant.

Stepping inside the grand circus tent, players find themselves at the centre of an electrified show where numbers, movement and spectacle blend into one seamless performance. Dynamo’s Show combines nostalgic circus energy with a charming mechanical twist, creating a world filled with animation, personality and momentum. The robot ringmaster acts as the heart of the experience, reacting dynamically to anticipation moments, celebrating wins and guiding players through feature transitions with character and humour.

Building on Just Slots’ signature approach of evolving familiar mechanics into fresh, cinematic experiences, Dynamo’s Show expands the studio’s portfolio with a bold new direction. While its foundation is the classic Hold & Collect respin format, the game introduces a progression-based layer through its innovative Booster symbols. These Boosters charge meters between reels which, when filled, flip the mathematical operator from addition to multiplication. This shift dramatically elevates win potential and creates the kind of pivotal, high-drama turning points that resonate with streamers, bonus hunters and high-volatility players.

The climax of the bonus plays out in true theatrical fashion. Rather than revealing a total instantly, Dynamo’s Show performs the final calculation step by step, visually animating each operation to build tension and pace. This transparent, deliberately staged reveal was designed with streaming and shareable moments in mind, amplifying emotion as the sequence unfolds. With a max win of 25,000x, the game’s structure supports both explosive outcomes and consistently engaging feature pacing.

The artistic direction reinforces the showmanship at the core of the design. Bright colours, vintage circus motifs and polished character animation bring the world to life, while the mechanical elements and expressive ringmaster add personality and charm. The robot presenter physically embodies the game’s rhythm, stretching his mechanical neck to display remaining respins and reacting instantly to symbol drops, turning each spin into part of the unfolding performance.

Josué Agüero, Senior Game Producer at Just Slots, commented: “Dynamo’s Show began with the idea of creating a circus experience, but we wanted to add a unique twist. The robot presenter brings the world to life, guiding players through every stage of the feature and reacting dynamically to what happens on screen. It turns the gameplay into a real performance. We wanted players to feel like they’re part of a show, not just spinning reels, but watching a performance unfold.”

Dynamo’s Show continues Just Slots’ tradition of turning familiar mechanics into fresh new experiences. The title adds a bold, colourful theme to the studio’s portfolio, from the underwater intrigue of Fish Mafia to the mystical depths of Book of Lilith. The title will receive full post-launch support, including free spins, instant cash prizes and leaderboard events. A playable demo is available from today, inviting players to experience the spectacle first-hand.

The post Just Slots Takes Centre Stage with New Circus-Themed Slot ‘Dynamo’s Show’ appeared first on European Gaming Industry News.