Their second quarter results have been releases and are impressive to say the least. The highlights include a rise in net income to $78.2 million from $61.9 million. Their 36 cents profit exceeded the forecasts of 30 cents compiled by experts.
Canada was another factor that boosted IGT sales as many Canadian casinos upgraded their aging machines. Just in North America alone IGT reported a 68% rise in replacement slot sales. Sales for the quarter were up by 11% to reach $600 million and exceeding the $572.5 million analyst estimates.
On the release of the good results IGT rose over 5.7% to trade around $18.28 which means that their overall price has risen about %22 for the year.
IGT slots are popular on social networks like Facebook have proven popular and the 94% revenue increase in interactive unit in these slot-type games to $66.7 million bore this out. With global online gambling opening up and the U.S playing a major role in this market, IGT is in talks with New Jersey casinos in hopes of being permitted to offer their technology to power online games.
IGT reported a 16% increase in slot machine sales to reach $279 million which is their core business strength. With online slots being one of the most popular choices for gamblers, there is little question that IGT will repeat their solid results in the coming months.