Your Daily Asia Gaming eBrief: IGT continues revenue and profit upticks in 2022

Wednesday 1st of March 2023

Good morning. Welcome to the final month of the first quarter! Earnings results continue to pile in, with IGT announcing a very solid 2022, seeing particular growth in its iGaming business as lottery and gaming segments continued to perform solidly. Meanwhile, Genting Singapore has justified its increase in liabilities on the return of visitation to the city, and subsequent revenue increases. And visitation in the Philippines drove up revenues, heavily reducing losses for International Entertainment.

What you need to know

IGT ended the year on a high note, with 4Q22 and full-year results topping expectations, as revenue rose to $4.22 billion in 2022.
Genting Singapore says that significant increases in its liabilities are due to the recovery of the city's visitation and rises in revenue.
International Entertainment saw a massive reduction in its loss for 2H22, as gaming grew on the return of punters in the Philippines.

On the radar

SkyCity appoints Carolyn Kidd to newly-created Chief Risk Officer role.
SJM signs casino operations agreement for L’Arc casino.
Aquis Entertainment 2022 profit up 4,000% on Casino Canberra sale.
Galaxy re-designates former President as independent non-exec director.
Hong Kong drops indoor and outdoor mask mandate.
Thailand to resume gambling on animal fights and races.

AGB Intelligence

PRODUCTS & SERVICES

IGT delivers strong 4Q22 and FY22 revenue/profits

Global gaming products and services company IGT saw a strong ending to 2022, and a healthy year overall - with annual revenue topping $4.22 billion and operating income at $922 million. The group continued expansion of its lottery and gaming arms, while seeing significant growth from its iGaming segment. Looking to 2023, the group is now predicting revenue of up to $4.3 billion.