IGT Posts Profitable First Quarter, Eyes Brazil, Pennsylvania Bids

Global gaming supplier International Game Technology (IGT) posted a first-quarter profit on Monday despite a decline in revenue from lower gaming systems sales and increased taxes in Italy.

London-headquartered IGT reported earnings of $80.5m, or 20 cents a share, on revenue of $1.14bn for the quarter that ended March 31. In the same quarter a year ago, the company had a loss of $64.5m, or 51 cents a share, on revenue of $1.21bn.

Revenues for the quarter were helped by a 20 percent increase in global gaming machine unit shipments and stable lottery revenue.

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