US gaming supplier International Game Technology (IGT) has reported a 15 per cent drop in second quarter revenue, with the company having initiated a cost-cutting programme to save around $30m a year in order to position the company for long-term growth.

Total revenue fell to $513m for the period, with the decline attributed in part to a fall in machine sales and gaming operations. This contributed to a 7 per cent drop in revenue for the six months ending March 31st, which declined from $1.13bn in H1 2012 to $1.05bn.

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