New York-listed gaming and lottery supplier International Game Technology (IGT) has posted a net loss of more than $1bn for 2017, with results hit by a $714m impairment charge and $444m of foreign exchange losses.

Revenue for the year fell by 4 per cent to $4.94bn, despite an improvement during the final quarter of 2017 which saw revenue climb 2 per cent to $1.35bn.

IGT benefited from growth in its North American Lottery, Italy, and International business segments during Q4. This offset a 31 per cent decline in revenue from North America Gaming & Interactive, primarily due to the sale of Double Down Interactive last June to South Korea’s DoubleU Games.

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GIQ Magazine