International Game Technology (IGT), a leading gaming and lottery company, recently released its first-quarter earnings report for 2021. The report revealed strong financial performance, with revenue and earnings exceeding expectations. The company also confirmed its 2023 financial forecast, indicating a positive outlook for the future.

IGT’s Q1 revenue was $1.015 billion, a 23% increase compared to the same period in 2020. The company’s net income was $92 million, up from a net loss of $248 million in Q1 2020. These impressive results were driven by growth across all of IGT’s business segments, including gaming, lottery, and digital.

The gaming segment, which includes slot machines and other casino games, saw a 26% increase in revenue compared to Q1 2020. This growth was driven by strong demand for IGT’s products in North America and Europe. The lottery segment also saw a 23% increase in revenue, with growth in both instant ticket sales and draw-based games.

IGT’s digital segment, which includes online gaming and sports betting, saw the most significant growth, with revenue up 35% compared to Q1 2020. This growth was driven by increased demand for online gaming and sports betting during the COVID-19 pandemic.

In addition to strong financial performance, IGT also confirmed its 2023 financial forecast. The company expects to achieve adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.6 billion to $1.7 billion in 2023. This forecast is based on continued growth across all of IGT’s business segments and the successful execution of its strategic initiatives.

IGT’s CEO, Marco Sala, commented on the company’s Q1 performance and future outlook, stating, “Our first-quarter results reflect solid execution across our global portfolio, with strength in lottery and gaming driving double-digit growth in revenue and adjusted EBITDA. Looking ahead, we remain focused on delivering long-term sustainable growth and shareholder value by leveraging our leading positions in key markets, investing in our digital and product portfolios, and maintaining a strong balance sheet.”

Overall, IGT’s Q1 earnings report shows strong financial performance and confirms the company’s positive outlook for the future. With growth across all business segments and a solid 2023 financial forecast, IGT is well-positioned to continue its success in the gaming and lottery industry.