Vince Sadusky, the CEO of International Game Technology (IGT), on the company’s strategic review and recent financial performance. Here are the key points: Strategic Review: Vince Sadusky expressed his belief that the company’s share price does not accurately reflect the full value of IGT’s assets. He discussed potential restructuring options, suggesting that the gaming and PlayDigital businesses, due to their synergies, should remain together, but implied that the lottery segment could potentially be separated from the rest of the business. Financial Performance: IGT’s Q2 revenues were above consensus expectations, with an increase of 3% YoY to $1bn and adjusted EBITDA rising 8% to $443m. This performance was largely attributed to the faster recovery of the US and Canada markets. IGT’s PlayDigital segment saw a significant […]

Digital Operation Profit: Caesar’s digital operation, which includes the new standalone iCasino app Caesars Palace and the transition of the Nevada sportsbook to the Liberty platform, has posted its first profit since the rebranding of the Caesars Sportsbook. The digital revenue rose by 42% to $216m. Las Vegas Segment: However, the Las Vegas segment of the business, traditionally the driving force, fell short of financial expectations, dropping 1% year-on-year (YoY) to $1.28bn. Overall Revenue and EBITDA: Despite the Las Vegas shortfall, total revenue was up 2% to $2.88bn, and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose 3% to $1bn. However, Las Vegas adjusted EBITDA fell by 6.4% to $512m. CEO’s Comments: CEO Tom Reeg emphasized that while the recent performance was not […]