News

International Game Technology PLC Reports Third Quarter 2018 Results

Published

6 years ago

October 31, 2018

Zoltan Tundik

International Game Technology PLC Reports Third Quarter 2018 Results Reading Time: 15 minutes

– Solid Lottery and Gaming KPIs drive strong third quarter results
– Net income was $22 million in the third quarter; Adjusted net income was $64 million
– Adjusted EBITDA of $443 million reflects strong Italy and global Lottery performance
– Full-year Adjusted EBITDA outlook narrowed to $1,740 – $1,780 million, the top half of the prior range
– Cash dividend declared of $0.20 per ordinary share

International Game Technology PLC (“IGT”) (NYSE:IGT) today reported financial results for the third quarter ended September 30, 2018. Today, at 8:00 a.m. EDT, management will host a conference call and webcast to present the third quarter results; access details are provided below.

“Solid performance and important, long-term contracts drove very good third quarter and year-to-date results,” said Marco Sala, CEO of IGT. “Global Lottery same-store revenues for instants and draw games rose mid-single digits. The installed base of gaming machines was up, and unit shipments of gaming machines increased 10%. And, we enjoyed particularly strong sales and profit growth in Italy, confirming the vitality of that important market. We are firmly on track to achieve our 2018 financial and operational goals.”

“We’ve delivered Adjusted EBITDA growth of 4% and 7% for the third quarter and year-to-date periods at constant currency and scope,” said Alberto Fornaro, CFO of IGT. “As a result, we are narrowing our Adjusted EBITDA outlook for 2018 to $1,740 – $1,780 million, the top half of the prior range.”

European Gaming Congress 2024 (Warsaw, Poland)

Overview of Consolidated Third Quarter Results


	Quarter Ended September 30,		Y/Y Change	Constant Currency Change
	2018⁽¹⁾ Advertisement	2017	(%)	(%)
(In $ millions, unless otherwise noted)
Revenue Advertisement	1,156	1,221	-5%	-4%
Operating income Advertisement	200	(556)	NM
Net income/(loss) per diluted share	$0.11 Advertisement	($3.95)	NM
Net debt	7,570	7,335 Advertisement	3%
Adjusted EBITDA	443	428	3% Advertisement	4%
Adjusted operating income	257	258	0% Advertisement	0%
Adjusted net income per diluted share	$0.31	$0.40	-23% Advertisement

Note: Adjusted EBITDA, adjusted operating income, and adjusted net income per diluted share are non-GAAP financial measures. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided at the end of this news release.

⁽¹⁾On January 1, 2018, IGT adopted ASU 2014-09 (Topic 606), Revenue from Contracts with Customers (“ASC 606”). This negatively impacted Revenue in the third quarter by $22 million and positively impacted Adjusted EBITDA by $12 million. Comparative schedules summarizing the impact on the third quarter and nine months ended September 30, 2018 Condensed Consolidated Statements of Operations are included later in this release.

Consolidated revenue was $1,156 million, down 4% at constant currency

$22 million negative impact due to ASC 606
Impacted by lumpiness of product sales and timing of multi-state jackpots
Strong global Lottery performance, improved Gaming KPIs, and broad-based strength in Italy

Adjusted EBITDA rose 3% to $443 million; Adjusted operating income was unchanged from prior year at $257 million

Disciplined expense management more than offset lower revenue
Adjusted operating income includes higher depreciation associated with recent Lottery contract extensions and upgrading of Gaming installed base

Interest expense was $107 million compared to $114 million in prior-year quarter

Provision for income taxes was $46 million compared to a benefit of $20 million in the prior-year period

Net income attributable to IGT was $22 million in the quarter; Adjusted net income attributable to IGT was $64 million

Net income per diluted share of $0.11; Adjusted net income per diluted share of $0.31

Cash from operations was $249 million for the first nine months of the year and capital expenditures were $374 million

$366 million (gross) upfront payments for the Scratch & Win license in Italy

Cash and cash equivalents were $448 million as of September 30, 2018, compared to $1,057 million as of December 31, 2017

Net debt was $7,570 million as of September 30, 2018, compared to $7,319 million as of December 31, 2017

Operating Segment Review

North America Gaming & Interactive

Select Financial Data					Constant	Key Performance Indicators			%
Period Ended September 30 Advertisement			Q3 ’18	Q3 ’17	FX	Period Ended September 30	Q3 ’18 Advertisement	Q3 ’17	Change
Gaming	Total Revenue		231 Advertisement	262	-12%	Installed base (end of period)
	Gaming Services		152 Advertisement	171	-11%	Casino	23,357	22,924 Advertisement	1.9%
		Terminal	106	123	-14% Advertisement
		Social (DDI)	0	0	0%	Machine units shipped Advertisement
		Other	46	48	-4%	New/Expansion Advertisement	843	729	15.6%
	Product Sales		79 Advertisement	91	-13%	Replacement	2,998	2,868 Advertisement	4.5%
		Terminal	54	46	17% Advertisement	Total machines shipped	3,841	3,597	6.8%
		Other Advertisement	25	44	-44%

Total	Revenue Advertisement		231	262	-12%
Total	Operating Income		45 Advertisement	65	-33%

Revenue of $231 million compared to $262 million in the prior-year quarter

Decline of $14 million, or 5%, after adjusting for $17 million jackpot expense reclass
Gaming services revenue of $152 million compared to $171 million in the prior year
- Stable after adjusting for jackpot expense reclass
- Installed base up 433 units from prior year; yields and installed base stable sequentially
Product sales revenue of $79 million compared to $91 million in the prior year
- 16% increase in terminal sale revenue includes growth in casino replacement and VLT units, higher average selling prices
- Large software sale in prior year

Operating income of $45 million compared to $65 million in the prior-year quarter

Large, high-margin product sales mix in the prior year
Increased depreciation related to upgrading installed base
Timing of jackpots

North America Lottery

Select Financial Data					Constant Advertisement	Key Performance Indicators			%
Period Ended September 30			Q3 ’18	Q3 ’17 Advertisement	FX	Period Ended September 30	Q3 ’18	Q3 ’17	Change Advertisement
Gaming	Total Revenue		37	48	-22% Advertisement	Installed base (end of period)
	Gaming Services		37	40	-6% Advertisement	VLT – Government Sponsored	14,965	15,225	-1.7%
		Terminal Advertisement	25	25	-1%
		Other	12 Advertisement	14	-16%	Lottery same-store revenue growth
	Product Sales		0 Advertisement	8	-98%	Instants & draw games			4.8%
						Multistate Jackpots Advertisement			-25.9%
Lottery	Total Revenue		242	259 Advertisement	-7%	Total lottery same-store revenue growth			-0.6%
	Lottery Services		225 Advertisement	237	-5%
		FM/Concessions	164	170 Advertisement	-4%
		LMA	25	34	-25% Advertisement
		Other Services	36	33	8%
	Product Sales Advertisement		17	22	-22%
		Terminal	0 Advertisement	1	-100%
		Systems/Other	17	22 Advertisement	-20%

Total	Revenue		279	307 Advertisement	-9%
Total	Operating Income		60	75	-20% Advertisement

Revenue of $279 million compared to $307 million in prior-year period

Lottery service revenue down 5% to $225 million
- 4.8% same-store revenue growth for instant tickets and draw-based games more than offset by significantly lower multistate jackpot activity
- Lower LMA revenue from Illinois
Lottery product sales of $17 million compared to $22 million in prior year
- Growth in instant ticket printing
- Large VLT system and lottery terminal sales in prior year

Operating income of $60 million compared to $75 million in prior-year period

Tough jackpot and product sales revenue comparisons
Higher depreciation related to recent contract wins and extensions

International

Select Financial Data					Constant	Key Performance Indicators			% Advertisement
Period Ended September 30			Q3 ’18	Q3 ’17	FX	Period Ended September 30 Advertisement	Q3 ’18	Q3 ’17	Change
Gaming	Total Revenue Advertisement		98	128	-20%	Installed base (end of period)
	Gaming Services Advertisement		33	59	-40%	Casino	12,332 Advertisement	13,022	-5.3%
		Terminal	13	14 Advertisement	7%	VLT – Government Sponsored	3,675	1,569	134.2% Advertisement
		Other	19	45	-55%	Total installed base Advertisement	16,007	14,591	9.7%
	Product Sales		65 Advertisement	69	-2%
		Terminal	47	43 Advertisement	15%	Machine units shipped
		Other	18	26 Advertisement	-30%	New/Expansion	529	176	200.6% Advertisement
						Replacement	2,681	2,633	1.8%
Lottery Advertisement	Total Revenue		100	82	23%	Total machines shipped Advertisement	3,210	2,809	14.3%
	Lottery Services		69 Advertisement	70	0%
		FM/Concessions	54	52 Advertisement	6%	Lottery same-store revenue growth
		Other Services	15	18 Advertisement	-18%	Instants & draw games			3.8%
	Product Sales		31 Advertisement	12	162%	Multistate Jackpots			2.7%
		Systems/Other Advertisement	31	12	162%	Total lottery same-store revenue growth			3.7% Advertisement

Other	Total Revenue		18	24	-23% Advertisement
	Service Revenue		17	18	-1%
	Product Sales Advertisement		0	6	-92%

Total	Revenue Advertisement		216	234	-5%
Total	Operating Income		56 Advertisement	40	46%

Revenue down 5% in constant currency to $216 million

Stable Lottery service revenue
- Same-store revenue growth of 3.7%
- Lower non-wager revenue compared to prior year
Significant increase in Lottery product sales from large, multi-year software license
Gaming service revenue of $33 million compared to $59 million in the prior year
- Prior year had benefit of certain discrete, non-recurring items
- Jackpot expense reclass of $3 million
- Service revenue from terminals up high single-digits at constant currency from growth in the installed base
Gaming product sales revenue down 2% in constant currency to $65 million
- 14% increase in gaming machine unit shipments; higher average selling prices
- Lower systems revenue

Operating income up 46% at constant currency to $56 million

High-margin software license sale
Disciplined expense management

Italy

Select Financial Data					Constant Advertisement	Key Performance Indicators			%
Period Ended September 30			Q3 ’18	Q3 ’17 Advertisement	FX	Period Ended September 30	Q3 ’18	Q3 ’17	Change Advertisement
Gaming	Total Revenue		175	173	2% Advertisement	(In € millions, except machines)
	Gaming Services		175	173	2% Advertisement	Lottery
		Terminal	159	157	2% Advertisement	Lotto wagers	1,913	1,815	5.4%
		Other Advertisement	16	16	5%	10eLotto	1,361 Advertisement	1,261	7.9%
	Product Sales		0	0 Advertisement	0%	Core	434	494	-12.2% Advertisement
						Late Numbers	70	60	17.9%
Lottery Advertisement	Total Revenue		184	180	4%	MillionDAY Advertisement	47	–	NM
	Lottery Services		184 Advertisement	180	4%
		FM/Concessions	233	229 Advertisement	3%	Scratch & Win Wagers	2,179	2,198	-0.9% Advertisement
		Other Services	(49)	(50)	-1%
	Product Sales Advertisement		0	0	0%	Italy lottery revenue growth			3.6% Advertisement

Other	Total Revenue		70	66	8% Advertisement	Gaming
	Service Revenue		70	66	8% Advertisement	Installed base (end of period)
	Product Sales		0	0	0% Advertisement	VLT – Operator (B2C)	11,027	10,958	0.6%
						VLT – Supplier (B2B) Advertisement	8,094	8,752	-7.5%
Total	Revenue Advertisement		430	418	4%	AWP	43,074 Advertisement	59,084	-27.1%
Total	Operating Income		145	126 Advertisement	17%	Total Installed Base	62,195	78,794	-21.1% Advertisement

						Wagers
						VLT – Operator (B2C)	1,426	1,329	7.3% Advertisement
						AWP	879	948	-7.2%
						Interactive Wagers (Gaming) Advertisement	447	404	10.5%

						Other
						Sports Betting Wagers¹ Advertisement	225	204	9.9%
						Sports Betting Payout (%)¹	81.1% Advertisement	83.3%	-2.1 pp

						¹Includes Virtual Wagers and Pools & Horses

Revenue up 4% at constant currency to $430 million with growth across all Gaming businesses

Lottery Service revenue up to $184 million from $180 million in the prior year
- Lotto wagers up 5.4% on continued strength in 10eLotto and contribution from MillionDAY
- Scratch & Win wagers down modestly on comparison with successful relaunch of Miliardario in the prior-year period
Gaming Service revenue up 2% at constant currency
- Higher revenue despite state-mandated reductions in AWP units, incremental taxes, and certain regional restrictions
- Strong underlying productivity
Sports betting wagers increased 9.9% to €225 million, payout 210 basis points better

Operating income increased to $145 million, up 17% at constant currency

Strong profit flow-through, especially for Lotteries
Disciplined cost management

Other Developments

The Company’s board of directors declared a quarterly cash dividend of $0.20 per ordinary share

Record date of November 14, 2018
Payment date of November 28, 2018

Recent Capital Markets Activity

Issuance of $750 million 6.25% Senior Secured Notes due 2027
Net proceeds used to redeem $600 million 5.625% bonds due 2020, $144 million 7.50% notes due 2019, and $97 million of its 5.5% bonds due 2020, with the balance funded through utilization of the revolving credit facility
Average debt maturity extended to over 4 years

Full Year Outlook

Narrowing 2018 Adjusted EBITDA outlook to $1,740 – $1,780 million at a EUR/USD rate of 1.19, the top half of the prior range
Continue to expect capital expenditures of $575–$625 million

Conference Call and Webcast

October 31, 2018, at 8:00 a.m. EDT

Live webcast available under “News, Events & Presentations” on IGT’s Investor Relations website at www.IGT.com; replay available on the website following the live event

Dial-In Numbers

US/Canada toll-free dial-in number is +1 844 842 7999
Outside the US/Canada toll-free number is +1 612 979 9887
Conference ID/confirmation code is 9277539
A telephone replay of the call will be available for one week
- US/Canada replay number is +1 855 859 2056
- Outside the US/Canada replay number is +1 404 537 3406
- ID/Confirmation code is 9277539

Comparability of Results

All figures presented in this news release are prepared under U.S. GAAP, unless noted otherwise. Adjusted figures exclude the impact of items such as purchase accounting, impairment charges, restructuring expense, foreign exchange, and certain one-time, primarily transaction-related items. Reconciliations to the most directly comparable U.S. GAAP measures are included in the tables in this news release. Constant currency changes for 2018 are calculated using the same foreign exchange rates as the corresponding 2017 period. Management uses non-GAAP financial measures to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, and to evaluate the Company’s financial performance. Management believes these non-GAAP financial measures reflect the Company’s ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of business trends. These constant currency changes and non-GAAP financial measures should however be viewed in addition to, and not as an alternative for, the Company’s reported results prepared in accordance with U.S. GAAP.

About IGT
IGT (NYSE:IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Digital and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has over 12,000 employees. For more information, please visit www.IGT.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the “Company”) and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “shall”, “continue,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company’s annual report on Form 20-F for the financial year ended December 31, 2017 and other documents filed from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and on the investor relations section of the Company’s website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company’s business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement.

Contact:
Robert K. Vincent, Corporate Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
James Hurley, Investor Relations, +1 (401) 392-7190
Simone Cantagallo, +39 06 51899030; for Italian media inquiries

International Game Technology PLC
Condensed Consolidated Statements of Operations Advertisement
*($ and shares in thousands, except per share data)*
*Unaudited*

	For the three months ended
	September 30,
	2018 Advertisement	2017

Service revenue	963,265	1,013,054
Product sales Advertisement	192,565	208,147
Total revenue	1,155,830	1,221,201 Advertisement

Cost of services	586,811	625,247
Cost of product sales	107,311 Advertisement	150,358
Selling, general and administrative	194,099	196,862
Research and development Advertisement	63,277	79,009
Restructuring expense	2,768	9,976 Advertisement
Impairment loss	1,530	715,220
Transaction expense, net	6 Advertisement	627
Total operating expenses	955,802	1,777,299

Operating income (loss) Advertisement	200,028	(556,098)

Interest income	3,249	2,906 Advertisement
Interest expense	(106,802)	(113,711)
Foreign exchange gain (loss), net	21,104 Advertisement	(117,526)
Other expense, net	(17,244)	(9,802)
Total non-operating expenses Advertisement	(99,693)	(238,133)

Income (loss) before provision for (benefit from) income taxes	100,335	(794,231) Advertisement

Provision for (benefit from) income taxes	46,327	(19,824)

Net income (loss)	54,008 Advertisement	(774,407)

Less: Net income attributable to non-controlling interests	31,709	29,207

Net income (loss) attributable to IGT PLC Advertisement	22,299	(803,614)


Net income (loss) attributable to IGT PLC per common share – basic	0.11	(3.95) Advertisement
Net income (loss) attributable to IGT PLC per common share – diluted	0.11	(3.95)

Weighted-average shares – basic	204,219 Advertisement	203,489
Weighted-average shares – diluted	204,344	203,489

International Game Technology PLC
Condensed Consolidated Statements of Operations
*($ and shares in thousands, except per share data)*
*Unaudited*

	For the nine months ended Advertisement
	September 30,
	2018	2017

Service revenue	3,017,283 Advertisement	3,063,477
Product sales	547,841	529,812
Total revenue Advertisement	3,565,124	3,593,289

Cost of services	1,812,553	1,866,281 Advertisement
Cost of product sales	333,065	403,056
Selling, general and administrative	605,405 Advertisement	607,571
Research and development	198,497	242,142
Restructuring expense Advertisement	7,924	30,706
Impairment loss	1,530	715,220 Advertisement
Transaction expense (income), net	50	(26,682)
Total operating expenses	2,959,024 Advertisement	3,838,294

Operating income (loss)	606,100	(245,005)

Interest income Advertisement	9,599	7,992
Interest expense	(323,320)	(344,494) Advertisement
Foreign exchange gain (loss), net	96,955	(384,749)
Other expense, net	(45,567) Advertisement	(33,247)
Total non-operating expenses	(262,333)	(754,498)

Income (loss) before provision for income taxes Advertisement	343,767	(999,503)

Provision for income taxes	159,064	53,932 Advertisement

Net income (loss)	184,703	(1,053,435)

Less: Net income attributable to non-controlling interests	104,054 Advertisement	94,870

Net income (loss) attributable to IGT PLC	80,649	(1,148,305)


Net income (loss) attributable to IGT PLC per common share – basic Advertisement	0.40	(5.66)
Net income (loss) attributable to IGT PLC per common share – diluted	0.39	(5.66) Advertisement

Weighted-average shares – basic	204,009	203,002
Weighted-average shares – diluted	204,375 Advertisement	203,002

International Game Technology PLC
Condensed Consolidated Balance Sheets
*($ thousands)* Advertisement
*Unaudited*

	September 30,	December 31,
	2018	2017 Advertisement
Assets
Current assets:
Cash and cash equivalents	447,550	1,057,418 Advertisement
Restricted cash and cash equivalents	255,470	248,012
Trade and other receivables, net	821,764 Advertisement	937,854
Inventories, net	332,921	319,545
Other current assets Advertisement	469,741	407,520
Income taxes receivable	50,298	94,168 Advertisement
Total current assets	2,377,744	3,064,517
Systems, equipment and other assets related to contracts, net	1,390,707 Advertisement	1,434,194
Property, plant and equipment, net	184,425	193,723
Goodwill Advertisement	5,697,030	5,723,815
Intangible assets, net	2,088,573	2,273,460 Advertisement
Other non-current assets	2,206,794	2,427,953
Deferred income taxes	37,706 Advertisement	41,546
Total non-current assets	11,605,235	12,094,691
Total assets Advertisement	13,982,979	15,159,208

Liabilities, redeemable non-controlling interests, and shareholders’ equity
Current liabilities:
Accounts payable Advertisement	1,040,701	1,240,753
Other current liabilities	1,161,113	1,780,875 Advertisement
Current portion of long-term debt	–	599,114
Short-term borrowings	29,957 Advertisement	–
Income taxes payable	82,127	55,935
Total current liabilities Advertisement	2,313,898	3,676,677
Long-term debt, less current portion	7,987,583	7,777,445 Advertisement
Deferred income taxes	493,605	491,460
Income taxes payable	25,654 Advertisement	55,665
Other non-current liabilities	450,951	446,113
Total non-current liabilities Advertisement	8,957,793	8,770,683
Total liabilities	11,271,691	12,447,360 Advertisement
Commitments and contingencies
Redeemable non-controlling interests and shareholders’ equity	2,711,288	2,711,848
Total liabilities, redeemable non-controlling interests, and shareholders’ equity Advertisement	13,982,979	15,159,208

Condensed Consolidated Statements of Cash Flows
*($ thousands)* Advertisement
*Unaudited*

	For the nine months ended
	September 30,
	2018	2017 Advertisement
Cash flows from operating activities
Net income (loss)	184,703	(1,053,435)
Adjustments to reconcile net loss to net cash provided by operating activities: Advertisement
Depreciation	312,203	289,088
Amortization	204,256 Advertisement	317,989
Service revenue amortization	164,952	155,318
Loss on extinguishment of debt Advertisement	49,460	35,428
Stock-based compensation expense	24,944	5,102 Advertisement
Debt issuance cost amortization	16,511	16,602
Deferred income tax provision	11,815 Advertisement	(170,698)
Impairment loss	1,530	715,220
Foreign exchange (gain) loss, net Advertisement	(96,955)	384,749
Gain on sale of Double Down Interactive LLC	–	(51,348) Advertisement
Other non-cash costs, net	3,132	8,428
Changes in operating assets and liabilities:
Trade and other receivables Advertisement	92,823	42,023
Inventories	(26,682)	16,526 Advertisement
Upfront Italian license fees	(366,270)	(185,368)
Accounts payable	(123,057) Advertisement	(60,733)
Other assets and liabilities	(204,053)	(67,954)
Net cash provided by operating activities Advertisement	249,312	396,937

Cash flows from investing activities
Capital expenditures	(374,313) Advertisement	(552,169)
Proceeds from sale of assets	8,200	168,201
Proceeds from sale of Double Down Interactive LLC, net of cash divested Advertisement	–	823,788
Other	2,064	1,990 Advertisement
Net cash (used in) provided by investing activities	(364,049)	441,810

Cash flows from financing activities
Principal payments on long-term debt Advertisement	(1,658,753)	(1,601,134)
Dividends paid – non-controlling interests	(126,926)	(51,508) Advertisement
Dividends paid	(122,394)	(121,840)
Return of capital – non-controlling interests	(64,974) Advertisement	(62,538)
Net payments of financial liabilities	(36,407)	(32,495)
Payments in connection with the extinguishment of debt Advertisement	(42,148)	(38,832)
Debt issuance costs paid	(10,199)	(16,350) Advertisement
Net proceeds from short-term borrowings	29,957	–
Capital increase – non-controlling interests	135,536 Advertisement	127,211
Proceeds from long-term debt	1,415,762	938,160
Other Advertisement	(18,051)	(24,785)
Net cash used in financing activities	(498,597)	(884,111) Advertisement

Net decrease in cash and cash equivalents, and restricted cash	(613,334)	(45,364)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	10,924 Advertisement	40,858
Cash and cash equivalents, and restricted cash at the beginning of the period	1,305,430	541,316
Cash and cash equivalents, and restricted cash at the end of the period Advertisement	703,020	536,810


*Supplemental Cash Flow Information:*
Interest paid	(419,508) Advertisement	(397,555)
Income taxes paid	(125,388)	(159,613)

International Game Technology PLC
Net Debt
*($ thousands)*

	September 30,	December 31, Advertisement
	2018	2017

7.500% Senior Secured Notes due July 2019	146,237	148,231 Advertisement
4.125% Senior Secured Notes due February 2020	504,248	833,655
5.625% Senior Secured Notes due February 2020	– Advertisement	595,767
4.750% Senior Secured Notes due March 2020	441,871	585,171
5.500% Senior Secured Notes due June 2020 Advertisement	125,247	125,709
6.250% Senior Secured Notes due February 2022	1,457,021	1,470,075 Advertisement
4.750% Senior Secured Notes due February 2023	974,884	1,008,601
5.350% Senior Secured Notes due October 2023	61,005 Advertisement	61,082
3.500% Senior Secured Notes due July 2024	573,132	–
6.500% Senior Secured Notes due February 2025 Advertisement	1,088,008	1,086,913
6.250% Senior Secured Notes due January 2027	742,760	– Advertisement
Senior Secured Notes, long-term	6,114,413	5,915,204

Revolving Credit Facilities due July 2021	147,951 Advertisement	76,880
Term Loan Facilities due January 2023	1,725,219	1,785,361
Long-term debt, less current portion Advertisement	7,987,583	7,777,445

6.625% Senior Secured Notes due February 2018	–	599,114 Advertisement
Current portion of long-term debt	–	599,114

Short-term borrowings	29,957 Advertisement	–
Total debt	8,017,540	8,376,559

Less: Cash and cash equivalents Advertisement	447,550	1,057,418

Net debt	7,569,990	7,319,141 Advertisement

Note: Net debt is a non-GAAP financial measure

International Game Technology PLC
Adjusted EBITDA and Free Cash Flow
Reconciliations of Non-GAAP Financial Measures Advertisement
($ thousands)

	For the three months ended
	September 30,
	2018	2017 Advertisement

Net income (loss)	54,008	(774,407)
Provision for (benefit from) income taxes	46,327 Advertisement	(19,824)
Non-operating expenses	99,693	238,133
Depreciation Advertisement	109,755	103,182
Amortization	67,806	99,562 Advertisement
Service revenue amortization	53,837	54,279
Stock-based compensation expense	7,825 Advertisement	1,829
Restructuring expense	2,768	9,976
Impairment loss Advertisement	1,530	715,220
Transaction expense, net	6	627 Advertisement
Non-cash purchase accounting (excluding D&A)	(233)	(126)
Bad debt expense	– Advertisement	4
Adjusted EBITDA	443,322	428,455



Cash flows from operating activities Advertisement	129,162	73,013
Capital expenditures	(115,346)	(181,579) Advertisement
Free Cash Flow	13,816	(108,566)

International Game Technology PLC Advertisement
Adjusted EBITDA and Free Cash Flow
Reconciliations of Non-GAAP Financial Measures
($ thousands)

	For the nine months ended
	September 30, Advertisement
	2018	2017

Net income (loss)	184,703	(1,053,435) Advertisement
Provision for income taxes	159,064	53,932
Non-operating expenses	262,333 Advertisement	754,498
Depreciation	312,203	289,088
Amortization Advertisement	204,256	317,989
Service revenue amortization	164,952	155,318 Advertisement
Stock-based compensation expense	24,944	5,102
Restructuring expense	7,924 Advertisement	30,706
Impairment loss	1,530	715,220
Transaction expense (income), net Advertisement	50	(26,682)
Non-cash purchase accounting (excluding D&A)	(666)	(513) Advertisement
Bad debt recovery	–	(17,858)
Adjusted EBITDA	1,321,293 Advertisement	1,223,365



Cash flows from operating activities	249,312	396,937
Capital expenditures Advertisement	(374,313)	(552,169)
Free Cash Flow	(125,001)	(155,232) Advertisement

International Game Technology PLC
ASC 606 – Revenue Recognition Impact
Condensed Consolidated Statements of Operations
*($ thousands, except per share data)* Advertisement
*Unaudited*
	Q3 2018
	Under Prior Accounting	Revenue Recognition Adjustment	As Adjusted Advertisement

Revenue	1,177,375	(21,545)	1,155,830
Operating expenses Advertisement	(988,995)	33,193	(955,802)
Provision for income taxes	(46,006) Advertisement	(321)	(46,327)
Net income attributable to IGT PLC	10,972	11,327 Advertisement	22,299

Net income attributable to IGT PLC per common share – basic	0.05	0.06	0.11 Advertisement
Net income attributable to IGT PLC per common share – diluted	0.05	0.06	0.11


	Q3 2018 YTD Advertisement
	Under Prior Accounting	Revenue Recognition Adjustment	As Adjusted

Revenue	3,619,952 Advertisement	(54,828)	3,565,124
Operating expenses	(3,020,100)	61,076 Advertisement	(2,959,024)
Provision for income taxes	(159,342)	278	(159,064) Advertisement
Net income attributable to IGT PLC	74,123	6,526	80,649

Net income attributable to IGT PLC per common share – basic Advertisement	0.37	0.03	0.40
Net income attributable to IGT PLC per common share – diluted	0.36 Advertisement	0.03	0.39

International Game Technology PLC

Condensed Consolidated Statement of Operations

Reconciliation of Non-GAAP Financial Measures

($ and shares in thousands, except per share data)

Quarter to date

Adjustments

Quarter to date

September 2018

Impairment/

Transaction

September 2018

Purchase

Foreign

Restructuring

and Refinancing

Reported

Accounting

Exchange

Expense

Expense, net

Adjusted

Total revenue

1,155,830

(181)

–

1,155,649

Cost of services

586,811

(21,241)

–

565,570

Cost of product sales

107,311

(3,954)

–

103,357

Selling, general and administrative

194,099

(27,017)

–

167,082

Research and development

63,277

(232)

–

63,045

Restructuring expense

2,768

–

(2,768)

–

Impairment loss

1,530

–

(1,530)

–

Transaction expense, net

–

(6)

–

Total operating expenses

955,802

(52,444)

–

(4,298)

(6)

899,054

Operating income

200,028

52,263

–

4,298

256,595

Interest expense, net

(103,553)

524

–

(103,029)

Foreign exchange gain, net

21,104

–

(21,104)

–

Other (expense) income, net

(17,244)

–

19,875

2,631

Total non-operating expenses

(99,693)

524

(21,104)

–

19,875

(100,398)

Income before provision for income taxes

100,335

52,787

(21,104)

4,298

19,881

156,197

Provision for income taxes (a)

46,327

12,846

301

688

60,164

Net income

54,008

39,941

(21,405)

3,610

19,879

96,033

Less: Net income attributable to non-controlling interests

31,709

–

31,736

Net income attributable to IGT PLC

22,299

39,914

(21,405)

3,610

19,879

64,297

Net income per common share – diluted

0.11

0.31

Weighted-average shares – diluted

204,344

(a) Adjustments for income taxes are determined based on the statutory tax rate in effect in the respective jurisdiction where the adjustment originated.

International Game Technology PLC

Condensed Consolidated Statement of Operations

Reconciliation of Non-GAAP Financial Measures

($ and shares in thousands, except per share data)

Year to date

Adjustments

Year to date

September 2018

Impairment/

Transaction

September 2018

Purchase

Foreign

Restructuring

and Refinancing

Reported

Accounting

Exchange

Expense

Expense, net

Adjusted

Total revenue

3,565,124

(540)

–

3,564,584

Cost of services

1,812,553

(63,457)

–

1,749,096

Cost of product sales

333,065

(11,735)

–

321,330

Selling, general and administrative

605,405

(80,602)

–

524,803

Research and development

198,497

(686)

–

197,811

Restructuring expense

7,924

–

(7,924)

–

Impairment loss

1,530

–

(1,530)

–

Transaction expense, net

–

(50)

–

Total operating expenses

2,959,024

(156,480)

–

(9,454)

(50)

2,793,040

Operating income

606,100

155,940

–

9,454

771,544

Interest expense, net

(313,721)

1,536

–

(312,185)

Foreign exchange gain, net

96,955

–

(96,955)

–

Other (expense) income, net

(45,567)

(2,184)

–

49,459

1,708

Total non-operating expenses

(262,333)

(648)

(96,955)

–

49,459

(310,477)

Income before provision for income taxes

343,767

155,292

(96,955)

9,454

49,509

461,067

Provision for income taxes (a)

159,064

37,101

6,630

1,829

204,626

Net income

184,703

118,191

(103,585)

7,625

49,507

256,441

Less: Net income attributable to non-controlling interests

104,054

–

104,131

Net income attributable to IGT PLC

80,649

118,114

(103,585)

7,625

49,507

152,310

Net income per common share – diluted

0.39

0.75

Weighted-average shares – diluted

204,375

(a) Adjustments for income taxes are determined based on the statutory tax rate in effect in the respective jurisdiction where the adjustment originated.

International Game Technology PLC

Condensed Consolidated Statement of Operations

Reconciliation of Non-GAAP Financial Measures

($ and shares in thousands, except per share data)

Quarter to date

Adjustments

Quarter to date

September 2017

Impairment/

Transaction

September 2017

Purchase

Foreign

Restructuring

and Refinancing

Reported

Accounting

Exchange

Expense

Expense, net

Adjusted

Total revenue

1,221,201

(182)

–

1,221,019

Cost of services

625,247

(36,918)

–

588,329

Cost of product sales

150,358

(23,961)

–

126,397

Selling, general and administrative

196,862

(27,180)

–

169,682

Research and development

79,009

(15)

–

78,994

Restructuring expense

9,976

–

(9,976)

–

Impairment loss

715,220

–

(715,220)

–

Transaction expense, net

627

–

(627)

–

Total operating expenses

1,777,299

(88,074)

–

(725,196)

(627)

963,402

Operating (loss) income

(556,098)

87,892

–

725,196

627

257,617

Foreign exchange loss, net

(117,526)

–

117,526

–

Other expense, net

(9,802)

(84)

–

9,703

(183)

Interest expense, net

(110,805)

610

–

(110,195)

Total non-operating expenses

(238,133)

526

117,526

–

9,703

(110,378)

(Loss) income before (benefit from) provision for income taxes

(794,231)

88,418

117,526

725,196

10,330

147,239

(Benefit from) provision for income taxes (a)

(19,824)

30,834

26,056

2,998

(3,230)

36,834

Net (loss) income

(774,407)

57,584

91,470

722,198

13,560

110,405

Less: Net income attributable to non-controlling interests

29,207

–

29,233

Net (loss) income attributable to IGT PLC

(803,614)

57,558

91,470

722,198

13,560

81,172

Net (loss) income per common share – diluted

(3.95)

0.40

Weighted-average shares – diluted (b)

203,489

203,689

(a) Adjustments for income taxes are determined based on the statutory tax rate in effect in the respective jurisdiction where the adjustment originated.

(b) Weighted-average shares – diluted, as adjusted, include shares that were excluded from the as reported computation, due to the net loss as reported.

International Game Technology PLC

Condensed Consolidated Statement of Operations

Reconciliation of Non-GAAP Financial Measures

($ and shares in thousands, except per share data)

Year to date

Adjustments

Year to date

September 2017

Impairment/

Transaction

September 2017

Purchase

Foreign

Restructuring

and Refinancing

Reported

Accounting

Exchange

Expense

Expense, net

Adjusted

Total revenue

3,593,289

(540)

–

3,592,749

Cost of services

1,866,281

(117,658)

–

1,748,623

Cost of product sales

403,056

(77,261)

–

325,795

Selling, general and administrative

607,571

(90,277)

–

517,294

Research and development

242,142

(426)

–

241,716

Restructuring expense

30,706

–

(30,706)

–

Impairment loss

715,220

–

(715,220)

–

Transaction expense, net

(26,682)

–

26,682

–

Total operating expenses

3,838,294

(285,622)

–

(745,926)

26,682

2,833,428

Operating (loss) income

(245,005)

285,082

–

745,926

(26,682)

759,321

Interest expense, net

(336,502)

2,415

–

(334,087)

Foreign exchange loss, net

(384,749)

–

384,749

–

Other (expense) income, net

(33,247)

1,567

–

35,428

3,748

Total non-operating expenses

(754,498)

3,982

384,749

–

35,428

(330,339)

(Loss) income before provision for income taxes

(999,503)

289,064

384,749

745,926

8,746

428,982

Provision for income taxes (a)

53,932

101,066

87,152

9,132

(88,159)

163,123

Net (loss) income

(1,053,435)

187,998

297,597

736,794

96,905

265,859

Less: Net income attributable to non-controlling interests

94,870

–

94,947

Net (loss) income attributable to IGT PLC

(1,148,305)

187,921

297,597

736,794

96,905

170,912

Net (loss) income per common share – diluted

(5.66)

0.84

Weighted-average shares – diluted (b)

203,002

203,303

(a) Adjustments for income taxes are determined based on the statutory tax rate in effect in the respective jurisdiction where the adjustment originated.

(b) Weighted-average shares – diluted, as adjusted, include shares that were excluded from the as reported computation, due to the net loss as reported.

INTERNATIONAL GAME TECHNOLOGY PLC

Select Financial Data					Constant	Key Performance Indicators Advertisement			%
Period Ended September 30			Q3 ’18	Q3 ’17	FX Advertisement	Period Ended September 30	Q3 ’18	Q3 ’17	Change
Gaming Advertisement	Total Revenue		541	611	-10%	Installed base (end of period) Advertisement
	Gaming Services		397	443	-9%	Casino Advertisement	35,689	35,946	-0.7%
		Terminal	303 Advertisement	319	-4%	VLT – Government Sponsored (ex-Italy)	18,640	16,794 Advertisement	11.0%
		Social (DDI)	0	0	0% Advertisement	VLT – Italy Supplier (B2B)	8,094	8,752	-7.5%
		Other Advertisement	94	124	-23%	Total installed base	62,423 Advertisement	61,492	1.5%
	Product Sales		144	168 Advertisement	-13%	Yield	$27.84	$29.12	-4.4% Advertisement
		Terminal	101	89	16%	(average revenue per unit per day) Advertisement
		Other	43	79	-45%
						Additional Italian Network Details: Advertisement
Lottery	Total Revenue		527	521	2% Advertisement	VLT – Operator (B2C)	11,027	10,958	0.6%
	Lottery Services Advertisement		479	487	-1%	AWP	43,074 Advertisement	59,084	-27.1%
		FM/Concessions	452	452 Advertisement	1%
		LMA	25	34	-25% Advertisement	Machine units shipped
		Other Services	2	1	-17% Advertisement	New/Expansion	1,372	905	51.6%
	Product Sales Advertisement		48	34	42%	Replacement	5,679 Advertisement	5,501	3.2%
		Terminal	0	1 Advertisement	-60%	Total machines shipped	7,051	6,406	10.1% Advertisement
		Systems/Other	48	34	44%
						Global lottery same-store revenue growth Advertisement
Other	Total Revenue		88	89	0% Advertisement	Instants & draw games			4.5%
	Service Revenue		88	84 Advertisement	6%	Multistate Jackpots			-23.1%
	Product Sales		0 Advertisement	6	-92%	Total lottery same-store revenue growth (ex-Italy)			0.4%
						Italy lottery revenue growth Advertisement			3.6%
Consolidated	Revenue		1,156	1,221 Advertisement	-4%
	Operating Income:
		Segment Total	306	305 Advertisement	1%
		Purchase Accounting	(52)	(802)	93% Advertisement
		Corporate Support	(54)	(59)	8%
		Total Advertisement	200	(556)	NM

Source: International Game Technology PLC

Source: European Gaming Media

Latest News

What makes Turbo Games’ provably fair games so special?

Published

1 year ago

June 16, 2023

George Miller

what-makes-turbo-games’-provably-fair-games-so-special?

Reading Time: 4 minutes

A partnership between game developer Turbo Games and iGaming solution provider and aggregator Slotegrator began in November 2022 via the APIgrator game integration solution. Since then, the collaboration has been developing successfully — and now it’s time to analyze what made it successful.

Turbo Games has noticed how the new technologies spreading throughout the industry can work for the good of brand transparency and player loyalty: “We can already see how blockchain technology has made it possible to make betting checks more accessible to players. All you need is a blockchain-hash and a decoder service. We think we will continue to move in this direction. Many traditional online casinos do not offer the possibility to check the bet. Sooner or later we all have to come to this. Perhaps the development of artificial intelligence will help here, because we are already seeing its involvement in all spheres of human life.”

Turbo Games specializes in provably fair games. Provable fairness is a concept where players can verify their wins or losses using blockchain technology — the outcome of the game is dictated by a smart contract and is absolutely random, barring the possibility of any human involvement. Using cryptographic hashing algorithms, the gambling site and the player’s device both generate seeds (random strings of numbers). Players receive a key that allows them to check the results; if the results are the same as the game round they witnessed, it proves that there was no foul play.

According to statistics from Turbo Games, the audience for provably fair games is mostly between 18 and 25 years old. However, there are also players aged 35-40 who prefer traditional games but would like to try something new, and have turned their attention to provably fair games.

There are good odds that the technology of provably fair games will become more popular, if not even commonplace, because it gives players a feeling of transparency and proves that the business is trustworthy without the need to search through dozens of reviews. Whereas many innovations in iGaming simply add entertainment, provable fairness addresses security concerns and reassures players that they’re not being exploited, which is invaluable.

Provably fair games are beneficial for both players and online casinos. Vadim Potapenko, Head of Sales at Turbo Games, comments: “It often happens that the users are not satisfied with the result, because gambling is not only about big wins, but also possible losses. By allowing them to check the fairness of a bet, we make life easier for platforms and players. Of course, this allows us to communicate with partners and users that we work honestly and that’s why they should trust our games.”

Ayvar Gabidullin, Business Development Manager at Slotegrator, adds that “this type of game is now becoming more and more popular and has great potential for both players and game providers in the future. On the part of the player, the advantage is that the player can always be sure that his game is fair and he can independently check any of his bets. And for the game provider, this also simplifies the process of implementing casino games, since now it will not be necessary to obtain the appropriate certificates from independent laboratories before launching new games, they can immediately enter the market with these games and where anyone can check the result and make sure that that there is no cheating with players. Many game providers are starting to look towards this type of game. And as far as I see, many operators are starting to think about adding these games.”

What do players in 2023 need? The iGaming industry is all about reputation and trust. Players have a huge number of platforms to choose from, making them pickier and pickier. There’s an abundance of forums where players leave reviews, so if players view a brand as untrustworthy, there are plenty of places they can share their opinion. Provable fairness not only stops that from happening, it provides evidence to the contrary, giving players something else to talk about.

Slotegrator also recommends investing time and effort into localization and creating an effective and detailed marketing strategy — before trying provably fair technology players need to get to the platform, and there is no acquisition without marketing.

ABOUT SLOTEGRATOR

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

More information: https://slotegrator.pro/

ABOUT TURBO GAMES

Turbo Games — a provably fair games provider that belongs to Turbo Stars company — has an ambitious goal to establish widespread recognition throughout the iGaming world. Even though it is young, the company consists of professionals who have been working on the brand for over five years and are even planning to introduce a new brand for a wider audience soon.

Turbo Games also works in Europe, India, and South Africa, where the company sees the most potential and expects the same “hype” as in Brazil.

The portfolio of Turbo Games consists of 21 titles, including well-known games like Mines, Crash X, DoubleRoll, Hi-Lo, and Plinko. The studio releases a game every month. However, not all games are developed from scratch. Wicket Blast and Spin Strike, the last two releases, are based on cricket and the Indian Premier League. Crash X remains the most popular fast game in the Turbo Games portfolio, and the studio reports that crash games enjoy stable levels of popularity. Overall, the main focus of the brand is provably fair games.

More information: https://turbogames.io/

Baltics

Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.

Published

1 year ago

June 6, 2023

Alex Marginean

games-factory-talents-has-teamed-up-with-nordic-game-to-bring-you-nordic-game-talents.

Reading Time: 2 minutes

Looking to take your career to the next level in the games industry? Then, Nordic Game Talents is the place to be! Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.

From Oct 27-29, the online and interactive event is dedicated to recruitment and career building in the creative & games industry within the Nordic region. The event empowers participants to be part of a bigger community and motivates them to explore new paths in achieving their career goals.

Hiring creative & games studios – Supercell, Funcom, Panzerdog, Tactile Games, Gamecan, Fingersoft, Dazzle Rocks, Redhill Games to name a few from the Nordic region will be participating in the event. These studios will share information on their latest projects, work culture and what it takes to be part of their team. The individual games associations from Finland, Denmark, Sweden, Norway and Estonia will share insights through live sessions on the booming games industry in their respective countries. Career development topics pertinent to job seekers like – How to have a successful first interview, Creative Portfolio reviews will also be discussed.

Experienced game industry professionals and individuals beginning their careers from around the world are welcome to join the event. One-to-one interviews with the hiring studios can be scheduled through the event platform. A great opportunity to get to know the studios and network with game professionals from around the world.

Participating in the event

As a job seeker attending Nordic Game Talents, take a few minutes to fill out a simple registration form. After filling the registration form you will receive a link to the online event platform – PINE, to join the event on 27th October. Participants joining Nordic Game Talents will also receive a free-of-charge pass to the Nordic Game Conference.

To view the complete agenda, please click here and to learn more about the event please visit Games Job Fair

About Games Factory Talents

A Helsinki-based talent attraction agency dedicated to the games & creative industry. Our services include direct recruitment, organizing game job fairs and managing a community of game industry professionals through our GameDev Talent Board.

To learn more about Games Factory Talents visit – Games Factory Talents

810 THE SPREAD

Cumulus Media Launches 810 THE SPREAD, the Bay Area’s First Sports Station Focused on Sports Betting

Published

2 years ago

October 10, 2022

GamingAmericas.com

Cumulus Media (NASDAQ: CMLS) announces that it has launched the Bay Area’s first Sports radio station focused on sports betting, 810 THE SPREAD. The new station brings sports and sports betting news, information, and insights to the burgeoning and underserved sports betting audience in San Francisco. 810 THE SPREAD will deliver behind-the-book perspectives from experts in a highly entertaining and engaging format. 810 THE SPREAD goes live today on the legendary 810am frequency that has been the 80-year home of historic Talk Radio KGO-AM. Cumulus San Francisco also launched the station’s new website at www.810thespread.com. Kevin Graham, Program Director of Cumulus’ sister sports stations KNBR 680AM/104.5FM and 1050 KTCT, adds Program Director duties for 810 THE SPREAD.

Larry Blumhagen, Vice President/Market Manager, Cumulus San Francisco, said: “810 THE SPREAD joins our sports brands KNBR 680AM/104.5FM and 1050 KTCT for a trifecta of dynamic sports content across four signals and streaming everywhere. We are excited about this new chapter and look forward to serving the Bay Area’s passionate sports fans in an incomparable way.”

Blumhagen added: “This is a bittersweet day for us, as it’s hard to say goodbye to the legendary KGO, which has been a part of listeners’ lives for so many years. We want to thank all the people who have been a part of KGO’s historic run these many years – and the listeners who loyally tuned in to the station. Times change, and we must change with them.”

Kevin Graham, Program Director, 810 THE SPREAD, said: “810 THE SPREAD will be the Bay Area’s best bet for sports fans and sports betting enthusiasts, and we are pleased to introduce sports-betting radio to our community. The station will feature a lineup of expert personalities that deliver unique sports talk and sports betting insights that entertain, inform, and engage, along with Cal Football and Basketball as well as select professional and college sports play-by-play events. While 810 THE SPREAD will feature specific gambling information, we believe our entertaining presentation will make it a favorite for all Bay area sports fans and a perfect complement to the legendary KNBR and KTCT. With its addition, it truly shows Cumulus’ commitment to the Bay area as ‘The Sports Leader’!”

The weekday programming lineup for 810 THE SPREAD includes:

6am-9am – Bet QL Daily – The must-consume show for sports fans and betting fans alike. Hosted by Joe Ostrowski, Joe Giglio, and Erin Hawksworth.

9am-12pm – Jim Rome - Aggressive, informed sports opinions, rapid-fire dialogue, and plenty of sports smack. As one of the most prolific sports talk hosts in America, Rome draws massive tune-in with legions of fans known as clones, who live for Rome’s take on the day’s largest issues in sports.

12pm-4pm – You Better You Bet – Nick Kostos and Ken Barkley have you covered for the best bets on the biggest matchups, the latest line movement and updates in the futures market. We’ll have up-to-the-minute coverage of backdoor covers and bad beats, and the cheers and tears that come with them. It’s sports betting conversation like you’ve never heard before.

4pm-8pm – Bet MGM Tonight – Live sports betting updates for all the night’s games as they happen – plus live “look-ins” for Major League Baseball games in progress. Get the latest scores, sides, totals, props, parlays, futures, and much more with hosts Quinton Mayo, Trysta Krick, and Ryan Horvat.

8pm-12 Midnight – CBS Sports Radio

BetQL Network programming is provided by Cumulus Media’s Westwood One through a partnership with Audacy.

For more information or to stream 810 THE SPREAD, visit: http://www.810thespread.com.

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Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market

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Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions

iGaming Industry7 years ago

Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018

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REVEALED: Top eSports players set to earn $3.2 million in 2019

iGaming Industry7 years ago

French Senator raises Loot Boxes to France’s Gambling Regulator

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Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018

iGaming Radio

International Game Technology PLC Reports Third Quarter 2018 Results

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