IGT Up In Third Quarter Travellers International Down

International Gaming Technology (IGT) and Travellers International Hotel Group have joined other companies and now included their latest figures for the last quarter.

IGT, which offers worldwide gaming and lottery services and products, has declared flat consolidated revenue for the last quarter compared to a year ago. It earned over the duration a little over $1.15 billion, while at the same time its operating income dropped. The quarter’s $153.9 million was 23.1 percent lower than last year’s third quarter.

The CEO of the company Marco Sala, added in the statement on earnings, “Our core businesses achieved significant momentum in the third quarter and year-to-date periods. Key performance indicators were solid in the quarter – gaming machine unit shipments increased 44 percent, while same-store revenue for draw games and instants rose 4 percent. Our leading positions are rooted in our focus on player-driven performance, which was on display at recent lottery and gaming trade shows and should sustain our momentum going forward.”

EBITDA (earnings before interest, taxes, depreciation and amortisation) fell from the third quarter of 2018 by 8.2 percent to $407.1 million. The good news is that the company’s net profit soared over the two periods from $22.3 million to $103.6 million, allowing an interim cash dividend of $0.20 per share. As of November 29, this dividend will be paid to all investors on record on December 13.

The business behind Resorts World Manila (RWM) is Travellers International and is managed by a joint venture between Alliance Global Group and Genting Hong Kong Ltd. Alliance stated yesterday in a filing with the Philippine Stock Exchange that RWM saw a quarterly increase in sales, with a 50 percent leap over a year ago. Over the three months, it took $324.1 million, well above the $215.38 million from the same three-month period in 2018.

The rise was attributed to “sustained growth in the VIP and non-VIP segments” due to increased options in the gaming areas of the casino. The resort’s Grand Wing expanded its ground-floor gaming area’s gaming space this past January and then in August added more room to it’s second-floor area. Further gaming consoles have been installed in the Garden Wing to help boost traffic.

Thanks to the improved results, Alliance announced that for the first three quarters of the year, Travellers International had higher sales compared to the same period last year. Core revenue increased to $414.75 million by 48.9 percent, and gross profit increased to $189.6 million by 57 percent. Travellers International walked away with $15.44 million in net profit after all expenditures and costs had been reduced.