iGaming Business – Gaming products designer and manufacturer International Game Technology (IGT) has reported a 9% rise in total revenue for the 2013 fiscal year following significant growth in social gaming sales.

IGT said total revenue for 2013 was $2.3 billion (€1.7 billion), up from the $2.2 billion recorded in 2012, despite having only recorded slight revenue growth in the fourth quarter of this year.

The figure was boosted by social gaming revenue, which grew to $219 million, a 151% rise. Social gaming also grew by 72% in the fourth quarter alone.

Operating income at IGT grew to $494 million, a 17% increase on the $421 million posted at the end of the 2012 fiscal year.

Earnings per share from continuing operations increased by 22% to $1.27.

“We continue to drive significant revenue and earnings per share growth through the successful execution of our strategy and disciplined approach to capital allocation,” IGT’s chief executive officer, Patti Hart, said.

“Our goal, as always, is to maximise our returns to shareholders through targeted share repurchases, consistent dividends and robust earnings growth.”

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