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 — Brightstar Lottery — Q2 2024 Earnings Presentation
33 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Jul 30, 2024
Slide 1: Period ended June 30, 2024
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Slide 2: Cautionary Statement Regarding Forward-Looking Statements
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”) and
Slide 3: IGT.
IGT.
Slide 4: Strong H1'24 Revenue & Profit Performance
Strong H1’24 Revenue & Profit Performance Delivered $2.1B in revenue and 23% operating margin Achieved record H1’24 operating income and Adjusted EBITDA* net of Separation and divestiture costs Published 17th annual Sustainability Report Recently announced sale of Gaming & Digital business to Apollo
Slide 5: Key Highlights of Gaming & Digital Sale
Key Highlights of Gaming & Digital Sale $4.05 billion gross cash proceeds for IGT’s Gaming & Digital business Significant increase in cash received vs. $2.59 billion in IGT/EVRI transaction Quicker crystallization of value upon closing; removes IGT shareholder exposure to execution risk Clear separa
Slide 6: Establishing a Best-in-class Global Pure Play Lottery Company
Establishing a Best-in-class Global Pure Play Lottery Company Strong Diversified Financial Profile Contract Mix, Attractive with Focused Strong Positions Industry Approach in Important Fundamentals to Capital Markets Allocation Unmatched Scope of B2C/B2B/B2G Infrastructure-like Capabilities Investme
Slide 7: Best-in-class Technology & Solutions Bolster Global Lottery Portfolio
Best-in-class Technology & Solutions Bolster Global Lottery Portfolio and Advance Key Strategic Initiatives H1’24 revenue up 2% Y/Y on top of 5% growth in PY(1) Game innovation in Italy & multi-jurisdiction jackpots driving global same-store sales growth Italy same-store sales up 3.4% in H1’24 iLott
Slide 8: Compelling Games Driving Gaming & Digital Performance
Compelling Games Driving Gaming & Digital Performance Global installed base up 4% Y/Y; 8th consecutive quarter of sequential growth, led by premium games Tiger and Dragon MLP ranks as #1 New Premium Leased & WAP game* Launch of Whitney Houston wide-area progressive slots on new SkyRise cabinet Over
Slide 9: On Track with Operational & Strategic Objectives
On Track with Operational & Strategic Objectives Achieved record Executing plans to H1’24 profitability*, unlock intrinsic excluding Separation value of IGT’s and divestiture best-in-class costs businesses * Operating income and Adjusted EBITDA 9
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Slide 11: Q2'24 Revenue & Profit Meet Expectations
Q2’24 Revenue & Profit Meet Expectations Note: EUR/USD FX daily average 1.08 in Q2’24, 1.09 in Q2’23, 1.08 YTD Q2’24, 1.08 YTD Q2’23 (1)Operating income and Adjusted EBITDA include $26M in Q2’24 and $44M in YTD’24 of Separation and divestiture costs related to the planned separation of the Gaming &
Slide 12: Solid Q2'24 Global Lottery Performance
Solid Q2’24 Global Lottery Performance Service revenue in line with PY, anchored by same-store sales growth and new CT contract Global same-store sales rise 0.9% Operating Revenue Income Italy increases 2.3% North America & Rest of world up 0.6% $613M $212M Product sales comparison reflects PY multi
Slide 13: Operating Profit Expansion Continues in Gaming & Digital
Operating Profit Expansion Continues in Gaming & Digital Global installed base grows 2,100+ units Y/Y, primarily Operating driven by MLP success Income Sequentially, installed base higher for 8th consecutive quarter Revenue $103M Resilient yield trends $436M Product sale revenue stable as higher IP
Slide 14: Solid H1'24 Financial Performance Yields Strong Cash Flow Generation
Solid H1’24 Financial Performance Yields Strong Cash Flow Generation Solid 54% cash conversion* Strong financial condition with Net debt $463M $199M $264M leverage* of 2.9x Cash from CapEx & License Free Cash Operations Obligations Flow* (CFO) Ample liquidity of $1.7B including $0.4B in unrestricted
Slide 15: Financial Highlights of Gaming & Digital Sale
Financial Highlights of Gaming & Digital Sale Minimal tax leakage for IGT PLC due to participation exemption in the U.K. Up to $100 million related to intragroup realignment transactions Eliminates tax impact to IGT shareholders from previously contemplated equity distribution ~$400 million in trans
Slide 16: Continued Progress on Strategic & Financial Goals
Continued Progress on Strategic & Financial Goals with Solid H1’24 Performance Gaming & Digital Q2’24 revenue Strong cash flow to be reported as & OI margin meet generation discontinued expectations operations beginning Q3’24 16
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Slide 18: Appendix
APPENDIX
Slide 19: H1'24 Revenue & Profit Profile
H1’24 Revenue & Profit Profile Revenue by Segment Revenue by Type Revenue by Geography 14% 40% 19% 60% 23% 81% 63% Global Lottery Gaming & Digital Service Product Sales U.S. & Canada Italy Rest of world Segment-level Segment-level Profit Margins Operating Income(1) Adjusted EBITDA(1) 52% 37% 33% 28%
Slide 20: Q2'24 Select Performance and KPI Data
Q2'24 Select Performance and KPI Data Constant Sequential Currency Change as GLOBAL LOTTERY Q2'24 Q2'23 Y/Y Change Change Q1'24 Reported Revenue Service Operating and facilities management contracts 620 623 (1)% —% 653 (5)% Upfront license fee amortization (47) (47) 1% —% (47) 1% Operating and facil
Slide 21: Q2'24 Select Performance and KPI Data
Q2'24 Select Performance and KPI Data Constant Sequential Currency Change as GAMING & DIGITAL Q2'24 Q2'23 Y/Y Change Change Q1'24 Reported Revenue Service Terminal 133 128 4% 4% 131 1% iGaming 45 48 (7)% (6)% 48 (6)% Systems, software, and other 73 71 3% 3% 75 (3)% Total service revenue 250 247 2% 2
Slide 22: Q2'24 Select Performance and KPI Data
Q2'24 Select Performance and KPI Data GAMING & DIGITAL (Continued) Q2'24 Q2'23 Y/Y Change Q1'24 Yields (by geography)(1), in absolute $ US & Canada $42.01 $41.89 —% $41.17 Rest of world $7.45 $7.44 —% $7.13 Total yields $29.14 $29.56 (1)% $28.51 Global machine units sold New/expansion 1,060 1,061 —%
Slide 23: Q2'24 Select Performance and KPI Data
Q2'24 Select Performance and KPI Data Constant Sequential Currency Change as CONSOLIDATED Q2'24 Q2'23 Y/Y Change Change Q1'24 Reported Revenue (by geography) US & Canada 661 650 2% 2% 660 —% Italy 237 240 (1)% (1)% 258 (8)% Rest of world 151 164 (8)% (8)% 150 1% Total revenue 1,049 1,055 (1)% —% 1,0
Slide 24: Q2'24 Summarized Income Statement
Q2'24 Summarized Income Statement For the three months ended For the six months ended June 30, June 30, 2024 2023 Y/Y Change 2024 2023 Y/Y Change Service revenue 837 835 —% 1,709 1,681 2% Product sales 213 220 (4)% 408 435 (6)% Total revenue 1,049 1,055 (1)% 2,117 2,116 —% Total operating expenses 8
Slide 25: Summarized Cash Flow Statement
Summarized Cash Flow Statement For the three months ended For the six months ended June 30, June 30, 2024 2023 2024 2023 Net cash provided by operating activities 343 34 463 345 Capital expenditures (101) (99) (185) (193) Payments on license obligations (7) (7) (14) (8) Free cash flow 235 (72) 264 1
Slide 26: Reconciliations of Non-GAAP Measures - Q2'24
Reconciliations of Non-GAAP Measures - Q2'24 For the three months ended June 30, 2024 Business Global Gaming & Segments Corporate Total Lottery Digital Total and Other IGT PLC Net income 85 Provision for income taxes 71 Interest expense, net 73 Other non-operating expense, net 1 Operating income (lo
Slide 27: Reconciliations of Non-GAAP Measures - Q2'24
Reconciliations of Non-GAAP Measures - Q2'24 For the three months ended June 30, 2024 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.20 Adjustments: Foreign exchange loss, net (0.01) 0.01 (0.02) Currency conversion impacts of hyper-inflationary economies
Slide 28: Reconciliations of Non-GAAP Measures - Q2'23
Reconciliations of Non-GAAP Measures - Q2'23 For the three months ended June 30, 2023 Business Global Gaming & Segments Corporate Total Lottery Digital Total and Other IGT PLC Net income 90 Provision for income taxes 86 Interest expense, net 71 Foreign exchange loss, net 5 Other non-operating income
Slide 29: Reconciliations of Non-GAAP Measures - Q2'23
Reconciliations of Non-GAAP Measures - Q2'23 For the three months ended June 30, 2023 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.23 Adjustments: Foreign exchange loss, net 0.00 0.00 0.00 Currency conversion impacts of hyper-inflationary economies 0.0
Slide 30: Reconciliations of Non-GAAP Measures - YTD Q2'24
Reconciliations of Non-GAAP Measures - YTD Q2'24 For the six months ended June 30, 2024 Business Global Gaming & Segments Corporate Total Lottery Digital Total and Other IGT PLC Net income 213 Provision for income taxes 141 Interest expense, net 145 Foreign exchange gain, net (15) Other non-operatin
Slide 31: Reconciliations of Non-GAAP Measures - YTD Q2'24
Reconciliations of Non-GAAP Measures - YTD Q2'24 For the six months ended June 30, 2024 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.61 Adjustments: Foreign exchange gain, net (0.10) 0.03 (0.13) Currency conversion impacts of hyper-inflationary economi
Slide 32: Reconciliations of Non-GAAP Measures - YTD Q2'23
Reconciliations of Non-GAAP Measures - YTD Q2'23 For the six months ended June 30, 2023 Business Global Gaming & Segments Corporate Total Lottery Digital Total and Other IGT PLC Net income 157 Provision for income taxes 173 Interest expense, net 141 Foreign exchange loss, net 32 Other non-operating
Slide 33: Reconciliations of Non-GAAP Measures - YTD Q2'23
Reconciliations of Non-GAAP Measures - YTD Q2'23 For the six months ended June 30, 2023 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.34 Adjustments: Foreign exchange loss, net 0.12 (0.02) 0.14 Currency conversion impacts of hyper-inflationary economies