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Forex gains boost IGT Q3 profit as revenue dips


International Game Technology (IGT) has reported a marginal decline in revenue of $1.15bn (£895.7m/€1.04bn) for the third quarter of 2016, 0.3% below last year’s figure, but profit increased more than four-fold, as foreign exchange gains more than offset higher operating costs.

Most of IGT’s revenue for the three months to 30 September came from services, with the divison accounting for $921.7m of the total, 4.3% down year-on-year. Product sales, meanwhile, contributed $231.5m of revenue, up 20.2%.

The gaming and interactive vertical in North America brought in $257m worth of revenue for the period, up 9.5% year-on-year. Of this $257m, $103m came from gaming services from terminals, $43m from other gaming revenue, $74m from sales of terminals, $33m from other sales and $4m from other income. IGT shipped 4,941 units in North America in the quarter, 28.6% more than in 2018.

The North American lottery vertical brought in a further $281m, up less than 1% from 2018. The supplier installed 14,294 video lottery terminals in North America in the quarter, down 4.5%.