Thanks to Social Gaming IGT Posts Massive Revenue Rise
International Game Technology (or IGT) has posted a 9% revenue growth for the 2013 fiscal year. The growth is due to a massive rise in popularity of their social and mobile casinos. IGT reported that social gaming revenue increased by a massive 151% to $219 million, almost a tenth of the company’s total revenue.IGT had total revenue of $2.3 billion, proof that the gambling operator is at the forefront of online gambling and with some US states about to launch online casino gambling it looks like the success is set to continue.
However, IGT’s social casino success could be limited. With real money mobile casino gambling about to launch in the US it will be extremely hard for the freemium social casino model to survive.
However, for the time being IGT is succeeding and its CEO Patti Hard believes that it will continue to do so, “We continue to drive significant revenue and earnings per share growth through the successful execution of our strategy and disciplined approach to capital allocation. Our goal, as always, is to maximize our returns to shareholders through targeted share repurchases, consistent dividends and robust earnings growth.”