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 — Q2 2023 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, Aug 1, 2023
Slide 1: Q2 2023 Period ended June 30, 2023
2? QUARTER Period ended June 30, 2023 = IGT are cs) Gi mnie COWER
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: Remembering Fabio Cairoli
3 Remembering Fabio Cairoli
Slide 4: IGT
2 IGT
Slide 5: Solid Momentum Across All Business Segments; Raising FY'23 Outlook
Solid Momentum Across All Business Segments; Raising FY’23 Outlook on Strong H1’23 Performance H1’23 revenue growth of 2%; up 10% excluding Italy commercial services(1) Mid-single-digit Global Lottery growth (ex-Italy commercial services) Double-digit increases for Global Gaming & PlayDigital segmen
Slide 6: Focused Execution of Key Strategic Initiatives Strengthens Global Lottery Leadership
Focused Execution of Key Strategic Initiatives Strengthens Global Lottery Leadership Game innovation and portfolio optimization initiatives drive global same-store sales (SSS) up 5% in H1’23 9% increase in Italy SSS fueled by double-digit instants growth 4% increase in North America & Rest of world
Slide 7: Global Gaming Momentum Clear in KPI Trends
Global Gaming Momentum Clear in KPI Trends, Strong Revenue & Profit Growth on Shipped 16,500+ units YTD, up 15%, complemented by 13% increase in ASPs; maintain leading U.S. & Canada ship share* Success of multi-level progressive (MLP) games, including Raise the Sails™ and Cats Wild Serengeti™ on Pea
Slide 8: Accelerated PlayDigital Growth Fueled by Expanding Portfolio
Accelerated PlayDigital Growth Fueled by Expanding Portfolio of Compelling Games & Solutions Core franchises, progressive jackpot & unique omnichannel WAP games, drive strong iGaming results Fortune Coin™, Cash Eruption™, and Cleopatra™ secure top three spots on EGR North America’s June 2023 U.S. sl
Slide 9: Key Strategic Initiatives Designed to Unlock Value of Market-leading Assets
Key Strategic Initiatives Designed to Unlock Value of Market-leading Assets 9 (1)Targets outlined at November 2021 Investor Day (2)Source: Bloomberg consensus estimates as of 7/31/23; Global Lottery includes OPAP, PBL, TLC, & FDJ; Large N.A. Gaming Supplier includes ALL & LNW; Digital & Betting incl
Slide 10: IGT
2 IGT
Slide 11: Strong Q2'23 Performance Meets High End of Outlook
Strong Q2’23 Performance Meets High End of Outlook 11 Note: EUR/USD FX daily average 1.09 in Q2’23, 1.06 in Q2’22, 1.08 YTD Q2’23, 1.09 YTD Q2’22 (1)Italy commercial services business was sold in September 2022 (2)Diluted EPS primarily reflects accrual of DDI/Benson matter in prior year *Non-GAAP me
Slide 12: Solid Q2'23 Performance in Global Lottery
Revenue $624M OI Margin 37% 2025 target 33% - 36% Operating Income $229M Solid Q2’23 Performance in Global Lottery Driven by Robust Italy Same-Store Sales Growth, LMA Incentives Revenue down 4% as reported; net of sale of Italy commercial services, revenue rose 8% Global SSS increase 2% Italy SSS up
Slide 13: Strong Q2'23 Global Gaming Results
Demand for Innovative Products & Services Yields Strong Q2’23 Global Gaming Results Revenue grows 13%, led by unit shipments and system sales Global unit shipments increase 15% to 8,269 units Record U.S. & Canada shipments for a Q2 period bolstered by U.S. & Canada casino replacement units Global AS
Slide 14: Improvements to Internal Processes Require Capitalization of Certain Costs
Improvements to Internal Processes Require Capitalization of Certain Costs 14 Operational Excellence Product Simplification Margin Improvement Supply chain optimization Logistical hub & spoke approach Supply/manufacturing geolocation Global product verticals Game interoperability Enhanced product de
Slide 15: Double-Digit Q2'23 PlayDigital Growth
Revenue $59M OI Margin 31% 2025 target 30+%Operating Income $18M Revenue up 38% on strong North America GGR trends and contribution from iSoftBet acquisition iGaming growth propelled by expansive game portfolio and omnichannel and wide-area progressive offerings Continued robust growth in Canada Spo
Slide 16: Strong Balance Sheet Supported by Solid Cash Generation
*Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details Strong Balance Sheet Supported by Solid Cash Generation 16 CFO includes $220M, ~$205M after tax, outflow in final settlement of the DDI/Benson matter (Benson)
Slide 17: Raising FY'23 Outlook on Strong H1'23 Performance
Revenue Operating Income Margin Cash from Operations Capital Expenditures (including payments on license obligations) Raising FY’23 Outlook on Strong H1’23 Performance Improved FY’23 Outlook Introducing Q3’23 Outlook ~$1.0BRevenue Operating Income Margin 22% – 23% $4.2B – $4.3B ~23% $900M - $1,000M
Slide 18: Progress on Achieving 2025 Targets
Progress on Achieving 2025 Targets 18 Global Gaming Bridge to 2025 OI Margin Target 19% 28% - 30% ✓ ✓ Consolidated Global Lottery Global Gaming PlayDigital Net Debt Revenue & OI Margin Revenue OI Margin Revenue OI Margin Revenue OI Margin Leverage Target Achieved ~5% 2% ~3% ~+/-1% ✓✓ On track Furthe
Slide 19: Strong H1'23 Performance & Balance Sheet Provide Solid Foundation for Growth
Strong H1’23 Performance & Balance Sheet Provide Solid Foundation for Growth 19 Robust Revenue Growth & OI Margin Expansion Raising FY’23 Outlook Improved Leverage Profile Strong Cash Flow Generation
Slide 20: MIETARDARIO;
MIETARDARIO; IMAXI [MAXI] QQyQye! k QR) RR Boe
Slide 21: Appendix
APPENDIX
Slide 22: H1'23 Snapshot of Revenue & Profit Profile
22 41% Note: $ millions, except noted otherwise (1)Segment-level profit charts exclude Corporate support expense and purchase price amortization 59% 36% 5% Lottery Gaming PlayDigital 79% 21% Service Product Sales 62% 23% 15% U.S. & Canada Italy Rest of world 73% 22% 5% Lottery Gaming PlayDigital 72%
Slide 23: Q2'23 Select Performance and KPI Data: Global Lottery
$ in millions except otherwise noted Q2'23 Select Performance and KPI Data GLOBAL LOTTERY Q2'23 Q2'22 Y/Y Change Constant Currency Change Q1'23 Sequential Change as Reported Revenue Service Operating and facilities management contracts 623 581 7% 6% 637 (2)% Upfront license fee amortization (47) (46
Slide 24: Q2'23 Select Performance and KPI Data: Global Gaming
$ in millions except otherwise noted (1) Excluded from yield calculations due to treatment as sales-type leases Q2'23 Select Performance and KPI Data GLOBAL GAMING Q2'23 Q2'22 Y/Y Change Constant Currency Change Q1'23 Sequential Change as Reported Revenue Service Terminal 128 123 4% 7% 129 (1)% Syst
Slide 25: Q2'23 Select Performance and KPI Data: Global Gaming (Continued)
$ in millions except otherwise noted (1) Excludes Casino L/T lease units due to treatment as sales-type lease Q2'23 Select Performance and KPI Data GLOBAL GAMING (Continued) Q2'23 Q2'22 Y/Y Change Q1'23 Yields (by geography)(1), in absolute $ US & Canada $41.89 $42.64 (2)% $42.36 Rest of world $7.44
Slide 26: Q2'23 Select Performance and KPI Data: PlayDigital
Q2'23 Select Performance and KPI Data PLAYDIGITAL Q2'23 Q2'22 Y/Y Change Constant Currency Change Q1'23 Sequential Change as Reported Revenue Service 59 43 38% 40% 55 8% Product sales — — (78)% (78)% — (74)% Total revenue 59 43 38% 39% 55 8% Operating income 18 8 125% 132% 14 30% Adjusted EBITDA 22
Slide 27: Q2'23 Summarized Income Statement
Q2'23 Summarized Income Statement For the three months ended June 30, 2023 2022 Y/Y Change Constant Currency Change Service revenue 835 842 (1)% (1)% Product sales 220 179 23% 23% Total revenue 1,055 1,021 3% 3% Total operating expenses 805 793 1% (2)% Operating income 251 228 10% 9% Interest expens
Slide 28: Summarized Cash Flow Statement
Summarized Cash Flow Statement For the three months ended For the six months ended June 30, June 30, 2023 2022 2023 2022 Net cash provided by operating activities 34 196 345 385 Capital expenditures (99) (79) (193) (153) Payments on license obligations (7) — (8) — Free cash flow (72) 117 143 232 Deb
Slide 29: Reconciliations of Non-GAAP Measures - Q2'23
For the three months ended June 30, 2023 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital 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, net (2) Operating income (loss) 22
Slide 30: Reconciliations of Non-GAAP Measures - Q2'23 EPS
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 0.03 — 0.02 Amortization - purchase accounting 0.19 0.05 0.14 Discrete tax items — (0.05) 0.05 Other (non-recurring adjustm
Slide 31: Reconciliations of Non-GAAP Measures - Q2'22
$ in millions (1) Includes amortization of upfront license fees For the three months ended June 30, 2022 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT PLC Net income 34 Benefit from income taxes (11) Interest expense, net 75 Foreign exchange gain, net
Slide 32: Reconciliations of Non-GAAP Measures - Q2'22 EPS
For the three months ended June 30, 2022 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted (0.02) Adjustments: Foreign exchange gain, net (0.09) 0.04 (0.14) Amortization - purchase accounting 0.19 0.05 0.14 Discrete tax items — (0.02) 0.02 DDI / Benson Matter
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 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT PLC Net income 157 Provision for income taxes 173 Interest expense, net 141 Foreign exchange loss, net 32 Other non-o
Slide 34: Reconciliations of Non-GAAP Measures - YTD Q2'23 EPS
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 0.16 (0.02) 0.18 Amortization - purchase accounting 0.38 0.09 0.29 Loss on extinguishment and modifications of debt, net 0.02
Slide 35: Reconciliations of Non-GAAP Measures - YTD Q2'22
Reconciliations of Non-GAAP Measures - YTD Q2'22 $ in millions; all amounts presented reflect continuing operations (1) Includes amortization of upfront license fees For the six months ended June 30, 2022 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT
Slide 36: Reconciliations of Non-GAAP Measures - YTD Q2'22 EPS
For the six months ended June 30, 2022 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.37 Adjustments: Foreign exchange loss, net (0.11) 0.08 (0.19) Amortization - purchase accounting 0.37 0.09 0.28 Discrete tax items — (0.15) 0.15 DDI / Benson Matter pro
International Game Technology — Q2 2023 Earnings Presentation on 6ix