It’s that time of year–businesses, whether they like it or not, announce the financial status after the third quarter’s figures have been crunched. The findings were mixed in the gaming industry, with quality varying from poor to better than expected. International Gaming Technology (IGT) and Travellers International Hotel Group have now also released their latest figures, and this is the case according to a report which was published by Calvinayre.com.
IGT, which offers worldwide gaming and lottery services and products, posted a quarterly flat combined sales relative to a year ago. It gained over the span a little over $1.15 billion, while at the same time its operating income dropped. $153.9 million for the quarter is 23.1% lower than the third quarter of last year.
The company’s CEO Marco Sala said: “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 taxation, taxes, depreciation and amortization) fell from the third quarter of 2018 to $407.1 million, down 8.2%. The good news is that the company’s net profit increased from $22.3 million over the two years to $103.6 million, allowing an annual cash dividend of $0.20 per share. As of November 29, this distribution will be distributed to all owners of record on December 13.
The business behind Resorts World Manila (RWM) is Travellers International and is managed by a joint venture of 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 cost $324.1 million, well above the $215.38 million from the same three-month period of 2018.
The rise was related to “sustained growth in the categories of VIP and non-VIP” due to increased offerings 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 added more room to August’s second-floor area. In the Garden Wing, more gaming machines were added this year, helping to boost traffic.
Thanks to the good 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 improved to $189.6 million by 57 percent. Travellers International walked away with $15.44 million in net profit after all liabilities and risks had been reduced.
