IGT - 4Q15 RESULTS
​IGT is the world’s largest lottery and gaming company, well ahead of Scientific Games and William Hill. This strengthened leadership is the fruits of the merger between the machine designer GTECH (historical leader) and the content provider IGT (ex #6). The group has published good 4Q15 results, in line with our expectations. The gaming giant has clearly outperformed the overall industry. 4Q15 Revenues came in at $1,365m, down -3% on sizeable forex headwinds (impact of -8%), but up +5% at cc in a context of quasi market saturation in the domestic American market (47% of sales). Revenues in the country increased by 3% at cc, and, for the first time since 2Q13, the casino installed base increased sequentially (+181 qoq to 25,418 slots in operation at casinos).
Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.
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