International Game Technology (IGT) has announced its 2016 fourth quarter results, which saw revenue decline 3 percent to US$1.32 million from US$1.37 million in the fourth quarter of 2015.
Adjusted EBITDA of US$422 million was 6 percent below the fourth quarter of 2015. Operating income was US$138 million compared to $132 million year-on-year and adjusted operating income was US$281 million compared to US$293 million in the prior year.
The overall revenue decline included approximately US$20 million of revenue benefits related to the catch-up reclassification of Stability Law taxes on gaming machines in Italy.
“We reached many important milestones in 2016,” said Marco Sala, CEO of IGT.
“We reinforced our number one position in Lottery globally, achieving robust same-store revenue growth and securing valuable, multi-year contracts. We also made good progress with our Gaming turnaround, developing compelling new titles and hardware, in addition to expanding our International presence. We operate in growing global market segments and IGT has a long history of investing in innovation to create shareholder value.”