IGT’s first quarter results of 2017 show a reduction in total revenue of 10 per cent, the company reported this week.

Total revenue was at US$1.15b, down from $1.2bn in the same quarter of last year. Adjusted EBITDA was down from $460m to $371m or 19 per cent; there was a net loss of $55m.

The company reported that the decline in revenue reflected comparisons with the high jackpot levels of the prior year, new Italian Lotto concession dynamics and lower gaming product sales. “Global lottery same-store revenue, excluding Italy, declined 11 per cent in the first quarter following record jackpot activity in North America and the UK during the previous year.” 

It also said that it expected full year adjusted EBITDA of $1.6bn-plus and a reduction in net debt.