Latest News
INTERNATIONAL GAME TECHNOLOGY PLC REPORTS SECOND QUARTER 2022 RESULTS

- 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 $135 million deployed for cash dividends and share repurchases year-to-date
- Tightening full-year 2022 revenue outlook to reflect currency movements and perimeter impact from previously announced divestiture; reconfirming operating income margin outlook as fundamentals remain strong
International Game Technology PLC reported financial results for the second quarter ended June 30, 2022. Today, at 8:00 a.m. EDT, management will host a conference call and webcast to present the results; access details are provided below.
“Strong customer and player demand for IGT’s products and solutions drove some of our strongest profit results ever in the second quarter and first half of the year,” said Vince Sadusky, CEO of IGT. “Our business profile is supported by significant recurring revenue streams backed by long-term contracts and resilient end markets, providing a solid foundation on which to grow. We are laser focused on executing our strategic objectives and creating compelling value for our stakeholders.”
“Our first half results set us firmly on the path to achieving our 2022 financial targets,” said Max Chiara, CFO of IGT. “Rigor on costs and incremental revenue opportunities allow us to maintain our full-year operating income margin outlook despite unfavorable currency movements and macroeconomic challenges. At the same time, we are returning significant capital to shareholders via dividends and share repurchases.”
Overview of Consolidated Second Quarter 2022 Results
Quarter Ended |
Y/Y |
Constant |
|||
All amounts from continuing operations |
June 30, |
||||
2022 |
2021 |
||||
($ 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 |
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
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Gambling in the USA
GAMING INDUSTRY’S TOP CEOs BILL HORNBUCKLE, PETER JACKSON & JASON ROBINS TO KEYNOTE G2E 2025

Main Stage Also Features Tribal Innovation Discussion Oct. 6; Global Gaming Women to Present Mental Health Dialogue Oct. 8
The Global Gaming Expo, presented by the American Gaming Association (AGA) and organized by RX, announces its highly anticipated main stage programming for G2E 2025. Over three days, G2E will feature conversations with some of the most influential voices in gaming and offer diverse perspectives on the future of the industry. G2E 2025 takes place Oct. 6-9 at The Venetian Expo in Las Vegas and marks the event’s 25th year.
“We are honored to welcome a distinguished lineup of key industry leaders to the G2E main stage,” said AGA President and CEO Bill Miller. “As we mark 25 years of G2E, we’re proud to continue to be a catalyst for gaming’s growth, and our programming reflects the ideas and leadership shaping the industry’s future.”
Progress or Pressure: How Tribes Can Harness Innovation on Their Terms
Monday, Oct. 6 at 4 p.m. Doors open at 3:30 p.m.
Indian Gaming Association (IGA) Chairman Ernie Stevens Jr. will open the main stage by underscoring the central contributions of tribal operators to the U.S. gaming landscape and the challenges and opportunities that lie ahead.
Bringing together leading tribal voices, the program will explore how tribes embrace innovation on their own terms—balancing growth with sovereignty and long-term success. Panelists will address how emerging technologies, evolving business models, and the rise of illegal, unregulated markets are reshaping the competitive environment. The dialogue will highlight both the opportunities to harness new tools for sustainable growth and the pressures of protecting the industry’s integrity in a rapidly changing landscape.
Moderated by IGA’s Executive Director Jason Giles, the conversation will feature:
- Rodney Butler, Chairman, Mashantucket Pequot Tribal Nation
- James Siva, Chairman, California Nations Indian Gaming Association
Additional participants may be announced in the coming days.
Inside the C-Suite: Gaming’s Future in Focus on Stage
Tuesday, Oct. 7 at 8:45 a.m. Doors open at 8:15 a.m.
AGA President and CEO Bill Miller will open G2E 2025’s keynote session, welcoming global gaming professionals and underscoring the strength and momentum of legal gaming upon the opening of the industry’s biggest gathering of the year.
Following Miller’s remarks, Hope King, founder of Macro Talk, on-air contributor to Yahoo Finance, and events host and moderator for Axios, will lead an impactful series of one-on-one conversations with top global gaming CEOs. Discussions will address key trends and challenges shaping the industry—including investor expectations, domestic and international expansion, and intensifying competition in regulated and unregulated markets. Featuring:
- Bill Hornbuckle – CEO & President, MGM Resorts International
- Peter Jackson – CEO, Flutter Entertainment
- Jason Robins – CEO, DraftKings
The session will conclude at 10 a.m., immediately followed by the opening of the expo floor.
Breaking the Stigma: An Honest Dialogue on Mental Health
Wednesday, Oct. 8 at 9 a.m. Doors open at 8:45 a.m.
Multi-sport athlete and mental health advocate Kendall Toole will share her personal journey in a conversation moderated by Global Gaming Women (GGW) Sip & Social Chair Meghan Speranzo. Presented by GGW, the session will foster an open dialogue on mental health, designed to reframe how attendees think about wellness and inspire stronger voices across the gaming industry and beyond. This conversation will be open to all badge holders. Ahead of the discussion, GGW will host their Sip & Social event from 8 a.m. – 8:45 a.m. in the same room. For more information on this separate networking event, visit globalgamingwomen.org/event-6325670.
Presented by the AGA and organized by RX, G2E’s full education lineup features more than 100 sessions. G2E 2025 runs from October 6-9 (Education: October 6-9 | Expo Hall: October 7-9) at The Venetian Expo in Las Vegas.
Since 2001, G2E has served as the premier global event for the legal, regulated gaming industry, fostering innovation and driving growth across casinos, hospitality, technology, iGaming, sports betting, and more. The event will welcome over 25,000 industry professionals from more than 120 countries, regions, and territories, and nearly 400 exhibitors showcasing the latest global gaming technologies.
For more information, visit globalgamingexpo.com.
The post GAMING INDUSTRY’S TOP CEOs BILL HORNBUCKLE, PETER JACKSON & JASON ROBINS TO KEYNOTE G2E 2025 appeared first on Gaming and Gambling Industry in the Americas.
Latest News
Podium’s Racing Data to Power Dabble’s Social-led Betting Service in the UK

Podium, a leading global provider of trusted sports content and data solutions, is working with Dabble to help bring its socially driven betting experience to UK audiences.
Dabble combines traditional betting functionality with a social media-style interface to offer the next generation of racing fans a more interactive way to connect and share. The app-based platform is integrated with Betmakers technology, with all UK horse and greyhound racing data delivered by Podium.
Ian Houghton, Commercial Director at Podium says: “At Podium, we are always excited when we see innovation in the industry, so we are delighted to play a part of Dabble’s expansion into the UK market, particularly at a time when the racing industry needs to retain a younger audience. We look forward to exploring how Podium’s services can continue to support Dabble’s global ambitions.”
The collaboration, which has been in place since the summer, marks an evolution in how racing data is used and experienced, with Podium delivering UK racing content via Betmakers technology to help power Dabble’s social platform.
Tom Rundle, CEO of Dabble, says: “Dabble’s move into the UK is a natural fit. We’re a challenger brand with an exciting product that we built ourselves from scratch. We’re already seeing that resonate with the UK audience. Yes, you can get a bet on, but essentially, we are placing ourselves as being community driven. We’re creating a richer experience at every touch point.”
The UK is Dabble’s third international market, following rapid growth after launching in its native Australia.
The post Podium’s Racing Data to Power Dabble’s Social-led Betting Service in the UK appeared first on European Gaming Industry News.
Campus Gambling
College Partnerships Under Scrutiny: The Future of Campus Gambling Deals – Compliance, Alternatives, PR Risk

The era of splashy sportsbook logos wrapped around student sections is fading fast, and for good reason. What looked like an easy revenue win after the expansion of legal sports betting now sits at the intersection of compliance complexities, reputational hazards, and evolving cultural expectations about how gambling interacts with college life. Universities are recalibrating their risk tolerance, athletic departments are revisiting sponsorship inventories, and operators are rethinking whether campus-facing marketing is worth the blowback. At Gambling Freedom Casino and News Portal, we’ve seen the conversation shift from “How big can this get?” to “How do we do this responsibly,or not at all?” The answer is not a simple yes or no; it’s a recognition that the future of campus gambling deals will be smaller, more carefully segmented, and anchored in integrity and harm minimization. That future rewards institutions and brands that can communicate clearly, document compliance rigorously, and operate with a “help-first, hype-later” mindset.
From a compliance standpoint, the baseline in 2025 is tighter than many casual observers realize. Industry marketing standards increasingly discourage promotions that could be perceived as targeting students, and the phraseology once common in acquisition campaigns is now off-limits or strongly discouraged. In parallel, more state regulators are scrutinizing college markets, especially player-specific proposition bets, on the grounds that they heighten the risk of harassment and integrity issues. The NCAA has spent the last few seasons pushing for stronger athlete protections and a more consistent compliance posture across jurisdictions. Put all of that together and the practical effect is clear: even if a category is technically legal in one state, the patchwork of rules, guidance, and best practices makes campus-facing deals a compliance headache and a reputational gamble. The safest route is to build partnerships that avoid student channels, exclude conversion-driven creative around college events, and lean into education, integrity, and alumni engagement where age gating and segmentation are both meaningful and auditable.
Reputational risk is the other half of the equation and it’s often underestimated until it isn’t. The optics of a sportsbook brand appearing inside a campus venue or in an email blast that lands in student inboxes can overshadow months of careful planning. In the digital age, a single misguided subject line or banner placement can live forever in screenshots, resurfacing whenever a university confronts unrelated controversies. For athletic departments, the blowback doesn’t just come from national media; local stakeholders, faculty governance, and alumni donors have strong opinions about how a school’s brand is used. The narrative can turn quickly: what a marketing team frames as “supporting athletics” can be framed by critics as “monetizing student attention with gambling.” Add the human dimension—students and athletes facing social media pressure tied to bets and the reputational calculus tilts further away from broad-based campus advertising. Once a school becomes the example cited in op-eds and parent forums, every future sponsorship meeting starts on defense, which is a tremendous tax on leadership attention and goodwill.
So where does that leave universities and sportsbooks that still want to collaborate responsibly? The first lane is alumni-only engagement that lives firmly outside student media. Think association newsletters sent to verified recipients, event activations tied to homecoming for over-21 alumni, and gated digital experiences where age verification and alumni status are both required. The operative phrase is segmentation with proof: CRM hygiene that suppresses any .edu domains associated with enrolled students, third-party age checks that withstand audit, and creative that emphasizes responsible play rather than acquisition gimmicks. It is equally important to leave campus-owned assets out of the plan entirely: no student newspaper, no student radio, no in-venue signage within sightlines dominated by under-21 attendees, and no .edu pages. Success here is measured by quiet compliance, not splashy vanity metrics. Campaign briefs should spell out what will not be done (no first-bet language, no odds boosts tied to school IP, no promo codes keyed to team names), and media buys should be geofenced and frequency-capped to avoid spillover impressions.
The second lane is integrity and data cooperation, which is fundamentally different from marketing. Rather than converting users, these partnerships focus on protecting competitions and people. Universities and operators can align around standardized reporting protocols for suspicious activity, training modules for staff and athletes that explain wagering rules and red flags, and secure data exchanges that support real-time anomaly detection. When structured correctly, integrity agreements do not place sportsbook logos on campus; they establish clear lines of responsibility, define escalation paths if something looks off, and include audit rights to ensure both sides are living up to the agreement. Forward-thinking athletic departments are building dashboards that track integrity KRIs (key risk indicators) across seasons, and operators are assigning compliance liaisons who can respond quickly to questions about markets, limits, and emerging risks. A valuable signal of sincerity is a proactive stance on contentious markets: choosing not to market college player props or removing them from any alumni-facing creative, sends a message that athlete wellbeing matters more than marginal handle.
A third lane is responsible-gambling (RG) education and independent research, an area where universities can lead with credibility if the funding and governance are set up correctly. The rule of thumb is “help, not hype.” Programming should elevate helplines and support resources, teach students and staff how to recognize early warning signs, and outline practical steps for friends or teammates who are worried about someone’s gambling. Workshops can be built for specific audiences, athletes, coaches, RAs, student leaders – with content tailored to situations they’ll likely encounter, like managing group chats during big games or dealing with harassment tied to a missed free throw. If an operator helps fund this work, the branding should be deliberately muted and the calls to action should point to counseling resources, not betting apps. On the research side, schools can host longitudinal studies on gambling behaviors and mental health that inform policy decisions across states. The key is independence: academic freedom, publication rights, and data privacy are non-negotiable. When these programs release annual reports with outcomes numbers trained, referrals made, satisfaction and knowledge retention scores, they earn trust with regulators and the public.
Embedding all of the above in real governance requires contracts and processes that are as rigorous as anything in broadcast rights or apparel. Agreements should explicitly exclude student-facing channels and campus IP in promotional contexts, require preclearance of all creative, and mandate third-party age and identity checks for any alumni lists used in marketing. Internal workflows matter just as much: establish a cross-functional signoff path that includes compliance, legal, athletics communications, the alumni office, and student affairs; maintain a living registry of all placements; and document every exception request and rejection. A quarterly audit, conducted by an independent partner, should test suppression lists, confirm geo and age parameters, and sample creatives for prohibited phrasing. Crisis preparedness is part of the job: have templates ready for misdirected emails, rogue social posts, and policy changes that force offer adjustments mid-season. Run tabletop exercises with leaders so everyone knows who approves the statement, who pauses the media, who contacts the vendor, and who answers reporter questions. The smoothest crises are the ones that never become public because the response is instant and well-rehearsed.
Looking ahead, the most realistic forecast is a smaller, safer lane for college–operator collaboration. Expect states and conferences to continue refining rules around bet types and advertising, particularly where athlete wellbeing and harassment are implicated. Expect universities to sunset remaining campus-facing placements in favor of alumni-only channels that leave a clean paper trail, lowering both compliance risk and noise around brand stewardship. Expect the integrity conversation to mature, with more standardized data formats, quicker reciprocity on investigations, and better education for the non-athlete campus community, resident advisors, counseling centers, and compliance staff who are often the first to notice when something is off. And expect that schools which articulate a clear philosophy- “We protect students, we protect athletes, we promote help-seeking, and we partner only where age-gated, auditable outcomes exist”, will spend less time in reactive posture and more time telling a positive story about values.
For operators, the business case is quiet credibility. Instead of chasing a fleeting burst of signups tied to a rivalry game, smart brands will invest in long-term reputation: integrity agreements that make competitions safer, alumni engagements that demonstrate real respect for age limits and context, and RG programs that exist to serve the community rather than acquire customers. That approach doesn’t just avoid headlines, it earns allies. Alumni who see careful, adult-only engagement are less likely to bristle at a brand’s presence. Regulators who see documented controls and public reporting are less likely to question motives. University leaders who see proof of restraint are more open to renewing low-risk collaborations. In other words, the playbook that Gambling Freedom recommends is not “do nothing,” but “do the right things, in the right places, for the right reasons.”
The final takeaway is simple: campus gambling deals are no longer a volume game; they are a values game. If your plan cannot be explained in a sentence that starts with student safety, athlete wellbeing, and competition integrity, it’s probably the wrong plan. If your KPIs are built around alumni engagement quality, RG outcomes, and zero incidents—not just clicks and codes, you’re on the right track. And if your processes assume that everything might one day be scrutinized by parents, faculty, alumni, and policymakers, you will build the sort of resilient partnership that can survive news cycles and leadership changes. Gambling Freedom exists to help universities and sportsbooks navigate precisely this terrain, compliance-conscious, PR-smart, and responsibility-first – so that whoever partners on college sports can do so with confidence, clarity, and respect for the communities they serve.
The post College Partnerships Under Scrutiny: The Future of Campus Gambling Deals – Compliance, Alternatives, PR Risk appeared first on Gaming and Gambling Industry in the Americas.
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