Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025. · NYSE:BRSL
Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025 — International Game Technology — Q4 2021 Earnings Presentation
36 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Mar 1, 2022
Slide 1: 2021 Fourth Quarter and Full Year Results
1 International Game Technology PLC 2021 Fourth Quarter and Full Year Results Period ended December 31, 2021 March 1, 2022
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
2 Cautionary Statement Regarding Forward-Looking Statements This presentation 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”) a
Slide 3: Business Update
3 Business Update
Slide 4: 2021 Financial Goals Achievement
2021 Financial Goals 2021 Actual Achievement Revenue $4.1B $4.1B Operating Income ~$900M $902M Operating Income Margin 22% 22.1% Cash from Operations $850 - $900M $1.0B CapEx <$300M $238M Net Debt Leverage(1) <4.0x 3.5x 4 2021: Achieved/Exceeded All Financial Goals During A Year of Important Strateg
Slide 5: Marco Sala, Executive Chair, IGT PLC
5 Marco Sala Executive Chair, IGT PLC
Slide 6: Vince Sadusky, CEO, IGT PLC
aX Vince Sadusky CEO, IGT PLC
Slide 7: Focused Strategy to Grow, Innovate, and Optimize
7 (1) Revenue and operating income CAGRs are 2021-2025; cash flow goals are 2022-2025 Global leadership in large, regulated gaming markets with secular tailwinds and accelerating digital growth Set aggressive but achievable multi-year financial goals(1) ◦ Mid-single digit organic revenue CAGR ◦ Mid-
Slide 8: Maximizing the Power of the Portfolio
8 Diverse and resilient ◦ Aligned with attractive end-markets ◦ Creates a natural hedge against variability across segments Unique and sustainable competitive advantages Content and technology synergies, cross-selling, and operational efficiencies provide compelling, enterprise-wide leverage Announc
Slide 9: Global Lottery: Strong Performance and Outlook
Global Lottery: Strong Performance and Outlook on Accelerated Growth and Emerging, Incremental Opportunities 9 Global same-store sales up 20+% vs. 2020 and 2019; impressive operating leverage in business ◦ Consolidating higher baseline play levels ◦ Strong performance across games ◦ Operating income
Slide 10: Global Gaming: Focused Product Strategies and Market Recovery
Global Gaming: Focused Product Strategies, Market Recovery Enhanced by Structural Margin Improvement Initiatives 10 Strong rebound in full-year sales and profits; continued, sequential improvement in Q4’21 period ◦ Significant improvement in unit sales ◦ Stability in casino installed base ◦ Importan
Slide 11: Digital & Betting: Building the Foundation for High Growth
Digital & Betting: Building the Foundation for High Growth and Value Creation 11 Vitality of IGT’s solutions evident in 35% revenue CAGR for 2019-2021 period Investing to bolster leadership positions ◦ Increasing investment in talent and R&D to drive growth ◦ Significant increase in new proprietary
Slide 12: Maintaining 2022 Outlook Range
Maintaining 2022 Outlook Range with Clearly Defined Initiatives to Mitigate Near-Term Market Dynamics 12 Omicron impact on Italy lottery sales and casino closures/restrictions worldwide COVID-related impacts on lottery sales have proved to be short-lived; casino GGR trends and sales funnel remain st
Slide 13: Financial Results
13 Financial Results
Slide 14: Q4'21: Significant Revenue and Profit Growth
40 96 186 Q4'19 Q4'20 Q4'21 365 295 387 Q4'19 Q4'20 Q4'21 14 $ in millions; EUR/USD FX daily average: 1.14 in Q4'21, 1.19 in Q4'20, 1.11 in Q4'19; all amounts presented reflect continuing operations Adjusted EBITDA 1,044 885 1,050 Q4'19 Q4'20 Q4'21 Q4'21 Q4'21: Significant Revenue and Profit Growth
Slide 15: FY'21: Robust Cash Flows Driven by Growth Across Segments
15 $ in millions; EUR/USD FX daily average: 1.18 in 2021, 1.14 in 2020, 1.12 in 2019; all amounts presented reflect continuing operations FY'21 4,032 3,115 4,089 2019 2020 2021 478 (107) 902 2019 2020 2021 1,454 1,008 1,686 2019 2020 2021 FY'21: Robust Cash Flows Driven by Growth Across Segments and
Slide 16: Global Lottery: Record Financial Results Achieved in 2021
Exceptional 20%+ global SSS growth compared to PY and 2019 • Lottery service up on increased player demand across games • ~$165M benefit from some discrete items in H1'21 Operating income exceeds $1B, up 69% Y/Y • High flow-through of SSS growth • Positive geographic mix • Discrete items contribute
Slide 17: Global Gaming: Innovation and Market Rebound
Meaningful Y/Y increase in revenue and profit in 2021 • Terminal service primarily driven by higher number of active units and yields up more than 50% • Terminal product sales up on significant Y/Y increase of over 9,000 machine units sold and higher ASPs • Profitability propelled by revenue growth
Slide 18: Digital & Betting: Emerging Business Delivers Strong Growth
New jurisdictions and customers propel double- digit revenue growth across verticals in full-year period • Successfully launched iGaming in MI and CT • Powering over 60 retail sports books Solid profit contribution from emerging business; Operating income up on strong revenue flow through with margi
Slide 19: Balanced Capital Allocation Framework on Display
▪ Generated record cash flows of over $1.0B in cash from operations and $770M in free cash flow • Exceptional performance and diligent capital management • 60% cash conversion rate(2), among the highest in Company history ▪ Reduced net debt by $1.4B; leverage improves to 3.5x • ~$900M in net cash pr
Slide 20: Solid Liquidity Position; Predominately Fixed Rate Debt
Total liquidity of $2.3B as of 12/31/21; $0.6B in unrestricted cash; $1.7B in additional borrowing capacity Continued strategic liability management initiatives in FY'21; Y/Y interest reduced ~$60M • In March, refinanced ~$1.0B 6.25% Notes due 2022 with $750M 4.125% Notes due 2026 and revolvers • In
Slide 21: Summary of Key Takeaways
Summary of Key Takeaways 21 Achieved or Exceeded 2021 Financial Goals Significantly Reduced Debt and Leverage Capital Returns to Shareholders Good Progress on Strategic Initiatives • Exceeded targets for cash from operations and leverage • Delivered on revenue, operating income, and CapEx targets •
Slide 22: Affirming FY'22 and Introducing Q1'22 Outlook
22 Affirming FY'22 and Introducing Q1'22 Outlook Revenue Operating Income Margin Cash from Operations Revenue Operating Income Margin ~$4.1B - ~$4.3B 20% - 22% $850M - $1,000M ~$1.0B - ~$1.1B 20% - 22% FY'22 Outlook Q1'22 Outlook Outlook Assumptions FY'22: • Double-digit Global Lottery SSS growth vs
Slide 23: Q&A
23 Q&A
Slide 24: Appendix
24 Appendix
Slide 25: Q4'21 and FY'21 Select Performance and KPI Data: Global Lottery
$ millions except otherwise noted (1) Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details Q4'21 and FY'21 Select Performance and KPI Data 25 GLOBAL LOTTERY Q4'21 Q4'20 Y/Y Change (%) Constant Currency Change (%)
Slide 26: Q4'21 and FY'21 Select Performance and KPI Data: Global Gaming
$ millions except otherwise noted (1) Excluded from yield calculations due to treatment as sales-type leases Q4'21 and FY'21 Select Performance and KPI Data 26 GLOBAL GAMING Q4'21 Q4'20 Y/Y Change (%) Constant Currency Change (%) FY'21 FY'20 Y/Y Change (%) Constant Currency Change (%) Revenue Servic
Slide 27: Global Gaming KPI Data (Continued)
$ millions except otherwise noted (1) Excludes Casino L/T lease units due to treatment as sales-type leases; comparability on a Y/Y basis hindered due to fewer active units Q4'21 and FY'21 Select Performance and KPI Data 27 GLOBAL GAMING (Continued) Q4'21 Q4'20 Y/Y Change (%) FY'21 FY'20 Y/Y Change
Slide 28: Digital & Betting and Consolidated KPI Data
$ millions except otherwise noted Q4'21 and FY'21 Select Performance and KPI Data 28 DIGITAL & BETTING Q4'21 Q4'20 Y/Y Change (%) Constant Currency Change (%) FY'21 FY'20 Y/Y Change (%) Constant Currency Change (%) Revenue Service 41 33 24% 22% 163 114 44% 39% Product sales 1 — 347% 348% 1 1 55% 55%
Slide 29: Q4'21: Significant Revenue and Profit Growth Y/Y
29 Quarter Ended % % December 31, Change Change 2021 2020 2019 vs. 2020 vs. 2019 GAAP Financials: Revenue 1,050 885 1,044 19% 1% Operating income 186 96 40 93% 365% Operating income margin 18% 11% 4% Net income (loss) 55 (232) (138) NA NA Net income (loss) attributable to IGT PLC per common share -
Slide 30: 2021 Results Highlight Resilience of Business
30 Year Ended % % December 31, Change Change 2021 2020 2019 vs. 2020 vs. 2019 GAAP Financials: Revenue 4,089 3,115 4,032 31% 1% Operating income/(loss) 902 (107) 478 NA 89% Operating income margin 22% (3)% 12% Net income (loss) 255 (875) (3) NA NA Net income (loss) attributable to IGT PLC per common
Slide 31: Q4'21 and FY'21 Income Statement
$ millions except per share amounts; all amounts presented reflect continuing operations Q4'21 and FY'21 Income Statement 31 Q4'21 Q4'20 Y/Y Change (%) FY'21 FY'20 Y/Y Change (%) Service revenue 850 749 13% 3,483 2,640 32% Product sales 200 136 47% 606 476 27% Total revenue 1,050 885 19% 4,089 3,115
Slide 32: Q4'21 and FY'21 Cash Flow Statement
Q4'21 and FY'21 Cash Flow Statement 32 Q4'21 Q4'20 FY'21 FY'20 Net cash provided by operating activities 396 251 1,010 595 Capital expenditures (71) (50) (238) (255) Free cash flow 326 201 771 340 Debt proceeds/(repayment), net 33 (175) (1,439) (246) Dividends to shareholders (41) — (41) (41) Share
Slide 33: Q4'21 Reconciliations of Non-GAAP Measures
Q4'21 Reconciliations of Non-GAAP Measures 33 For the three months ended December 31, 2021 Global Lottery Global Gaming Digital & Betting Business Segment Total Corporate and Other Total IGT PLC Income from continuing operations 55 Provision for income taxes 56 Interest expense, net 77 Foreign excha
Slide 34: Q4'20 Reconciliations of Non-GAAP Measures
Q4'20 Reconciliations of Non-GAAP Measures 34 $ millions; all amounts presented reflect continuing operations (1) Includes amortization of upfront license fees (2) Primarily includes transaction-related costs For the three months ended December 31, 2020 Global Lottery Global Gaming Digital & Betting
Slide 35: FY'21 Reconciliations of Non-GAAP Measures
FY'21 Reconciliations of Non-GAAP Measures 35 $ millions; all amounts presented reflect continuing operations (1) Includes amortization of upfront license fees (2) Primarily includes transaction-related costs For the year ended December 31, 2021 Global Lottery Global Gaming Digital & Betting Busines
Slide 36: FY'20 Reconciliations of Non-GAAP Measures
FY'20 Reconciliations of Non-GAAP Measures 36 $ millions; all amounts presented reflect continuing operations (1) Includes amortization of upfront license fees (2) Primarily includes transaction-related costs For the year ended December 31, 2020 Global Lottery Global Gaming Digital & Betting Busines
International Game Technology — Q4 2021 Earnings Presentation on 6ix