International Game Technology (IGT), the Nevada-based manufacturer of slots and other machine-based casino games has released their financial reports on their first quarter fiscal year 2013 performance, and wouldn’t you know it, they struck big, posting its best first-quarter performance in the past four years.
That’s a tremendous achievement for a company that continues to be a marker leader despite doing their business in a challenging environment. For one, the company’s revenue increased from $445.5 million to $530 million, a more than impressive improvement of 19% over their previous numbers. Product sales in North America also saw a significant boost, jumping 54% on the strength of increased sales of video lottery terminals in emerging gaming markets, including Illinois and Canada.
Social gaming also become a source of revenue growth for IGT, accounting for a 15% increase from the fourth quarter of last year to this year’s total of $41 million. This successful growth can be attributed to the success a number of its social games have had on Facebook, particularly Double Down Casino, which became the third-largest grossing up on Facebook and the sixth highest earning app on the iPad.
IGT did have some hiccups along the way, including a 4% decline on its leased game operations, caused, at least to some extent, by lower revenues generated by its MegaJackpot titles.
Ultimately, the final numbers are what matters and IGT’s successful revenue run for the first quarter fiscal year 2013 suggests that they’re in good standing in the market, something CEO Patti Hart, said can lead to ‘building on a stable foundation that will only get better’.
Finnish player scores record slots win
If IGT is celebrating their successful revenue run, their celebrations are probably nothing compared to the Finnish player who set a new world record for online slots winnings when he pocketed a staggering €17.8 million while playing on Paf.com last Sunday. Talk about striking it big on slots.
The €17.8 million total is more than double the previous record for a Paf.com slots win when another Finnish player scooped up €8.65 million from a €5 spin on the Arabian Nights slot. As for the previous world record of €11.7 million that was set by a Betsson player in September 2011? That’s been blown out of the water too.
Paf CEO Anders Ingves was quick to congratulate the lucky winner on his enormous win. More importantly, he also gave out some important words of advise, including economic counseling, remain anonymous, and take a break from playing. While it may be hard to take a break from playing after winning such a huge jackpot, these are advises that are certainly well worth heeding.
Enjoy your win, ystävä. Don’t go blowing all of it in a week.