IGT isn’t just big, it’s exceptionally lean. In 2024, the company reported $2.5 billion in iGaming revenue and turned nearly half of that into $1.17 billion in adjusted EBITDA, delivering a staggering 46.6% margin, a figure most in the industry only wish they could hit.
That kind of profitability comes from precision execution. IGT generated $1.03 billion in cash from operations, including $689 million from its ongoing operations, and still posted a free cash flow of $659 million, with over 80% from continuing operations.
What’s more impressive: this cash wasn’t just for show. It’s fueling growth, paying down debt (which dropped from $5.16 billion to $4.78 billion), and strengthening IGT’s strategic foundation, all while competitors chase volume over value.
In an industry that often conflates growth with success, IGT is quietly setting a new standard: profitability coupled with capital efficiency. With a free cash flow like that and an EBITDA margin approaching 50%, they’ve defined what sustainable dominance looks like, not just for today, but for the entire iGaming landscape.
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