International Game Technology Backs 2016 Adj. EBITDA Outlook

(RTTNews) - International Game Technology plc. (IGT) said that it continues to expect adjusted EBITDA of $1.740 billion - $1.790 billion for the full year 2016 period. Capital expenditures excluding upfront Lotto concession payments are now expected to be $550-$580 million, which includes Lotto-related infrastructure upgrades. This compared to previous guidance of $575-$625 million in capital expenditures, which did not include an estimated $35 million in Lotto-related infrastructure investments. The 2016 portion of the Lotto-related, upfront concession payments is €600 million. Net debt is still expected to be $7,700-$7,900 million at the end of 2016.