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Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025 — International Game Technology — Q3 2015 Earnings Presentation
24 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Nov 12, 2015
Slide 1: Agenda
2 Agenda Marco Sala, CEO, International Game Technology PLC Strategic Update 1 Alberto Fornaro, CFO, International Game Technology PLC Q3’15 Results 2 Q&A 3
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
3 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 IGT and other matters. These statements may discuss goals, intentions and expectation
Slide 3: Comparability of Results
4 Comparability of Results All figures in this presentation are prepared under U.S. GAAP, unless noted otherwise. As a result of the combination of GTECH S.p.A. (“GTECH”) and International Game Technology (“legacy IGT”), which was completed on April 7, 2015, a number of items affect the comparabilit
Slide 4: Comparability of Results
way Comparability of Results All figures in this presentation are prepared under U.S. GAAP, unless noted otherwise. As a result of the combination of GTECH S.p.A. (‘TECH’) and International Game Technology (“legacy IGT"), which was completed on April 7, 2015, a number of items affect the comparabili
Slide 5: Strategic Update
6 Strategic Update In line profitability; strong free cash flow Product sales reflect natural variability of the business Ex-conversions, replacement units stable over the last two quarters Continued global lottery momentum Encouraged by WAP and new game performance Industry leadership and commitmen
Slide 6: 2015 Third Quarter Financial Results
2015 THIRD QUARTER FINANCIAL RESULTS
Slide 7: Q3'15 Financial Highlights (As Reported)
8 Operating Income $ M Q3’15 Financial Highlights (As Reported) Adjusted EBITDA Net Debt As adjusted results remove impact of purchase price amortization, restructuring expense and transaction expense (see appendix for details) Revenue
Slide 8: Q3'15 Financial Highlights (Pro Forma)
9 Revenue Adjusted Operating Income Q3’15 Financial Highlights (Pro Forma) Adjusted EBITDA Diluted EPS $ M except EPS As adjusted results remove impact of purchase price amortization, restructuring expense and transaction expense (see appendix for details) This image cannot currently be displayed.
Slide 9: Q3'15 Revenue & Operating Income
10 Q3’15 Revenue & Operating Income $ M Pro Forma Adjusted Operating Income Lottery service revenue up; strong growth in North America mitigated by lower late numbers in Italy Gaming service revenue reflects Stability Law impact and lower installed base, partly offset by improved WAP yields; DoubleD
Slide 10: Q3'15 North America Gaming & Interactive Highlights
11 Relatively stable gaming operations revenue notwithstanding lower installed base; improved WAP yields Wheel of Fortune® franchise remains strong; continued momentum with new titles (Quartermania®, Gong Xi Fa Cai™) Q3’14 unit sales included 1,864 Oregon VLT units Year-to-date total replacement uni
Slide 11: Q3'15 North America Lottery Highlights
12 8% same-store revenue growth on continued momentum in instant ticket sales and local draw-based games Double-digit growth in California, North Carolina, and Indiana; mid-to-high single-digit growth in most other major markets Wins in Canada (Ontario) and Colorado contributed to growth LMA revenue
Slide 12: Q3'15 International Highlights
13 Machine sales reflect large Asia Pacific sales and Mexico conversion units in Q3’14 Growing interest in new S3000® and CrystalDual™ cabinets Relatively stable gaming operations revenue notwithstanding lower installed base 2% increase in lottery same-store revenue driven by broad-based strength in
Slide 13: Q3'15 Italy Highlights
14 Q3’15 Italy Highlights $ M Revenue Key Performance Indicators Relative stability in most core activities, with the exception of the 2015 Stability Law impact, six percentage-point increase in sports betting payout, and a decline in Lotto late numbers Lotto wagers up ex-late numbers; continued str
Slide 14: Q3'15 Income Statement and Debt
15 Note: $/€ FX daily average: 1.11 in Q3’15; 1.33 in Q3’14 $ M except EPS Q3’15 Income Statement Note: $/€ FX: 1.12 at 9/30/15 9/30/15 Long-Term Debt, Less Current Portion IGT PLC Senior Notes 4,867 Revolving Facilities 1,135 IGT PLC Term Loan 892 Notes Due February 2018 (Legacy GTECH) 548 Notes Du
Slide 15: 9M'15 Cash Flow Statement
16 9M’15 Cash Flow Statement $ M Approximately $150 million in one-time, transaction-related items Excludes $57 million in free cash flow from legacy IGT in the first calendar quarter of 2015 9M’15 Free Cash Flow Impacts Cash Flow 9M'15 Net Cash Flows from Operating Activities 471 Capex (Excluding I
Slide 16: 2015 Financial Outlook
17 2015 Financial Outlook Confirming $280 million in synergy targets $230 million in cost synergies; on track to achieve two-thirds of savings on annualized basis by April 2016 $50 million in revenue synergies Outlook 2015 pro forma adjusted EBITDA of $1.605-$1.705 billion Reflects $30 million adjus
Slide 17: 2015 Financial Outlook
” 2015 Financial Outlook Confirming $280 million in synergy targets + $230 million in cost synergies; on track to achieve two-thirds of savings on annualized basis by April 2016 + $50 milion in revenue synergies Outlook + 2015 pro forma adjusted EBITDA of $1.605-$1.705 billion = Reflects $30 million
Slide 18: Q3'15 Reconciliation of Adjusted EBITDA
19 Q3’15 Reconciliation of Adjusted EBITDA $ M % Q3'15 Q3'14 Change Operating Income 130 184 -29% Depreciation 95 84 Amortization 134 37 Transaction Expense (Income), Net 2 (5) Service Revenue Amortization 27 31 Non-Cash Purchase Accounting (excluding D&A) 2 - Restructuring Expense 11 5 Stock Compen
Slide 19: Q3'15 Reconciliation of Non-GAAP Measures
20 Q3’15 Reconciliation of Non-GAAP Measures $ M * Excludes impact of purchase price amortization and transaction expense * Operating Income Net Inc. Q3'15 Q3'14 Change Q3'15 As Reported 130 184 (54) 7 Pre-Tax Adjustments: Purchase Accounting 115 20 95 114 Transaction Expense (Income), Net 2 (5) 7 2
Slide 20: Q3'15 KPIs – Consolidated
21 Q3’15 KPIs – Consolidated Periods Ended September 30 2015 2014 % change 2015 2014 % change Installed base (end of period) Casino 34,755 39,102 -11.1% 34,755 39,102 -11.1% VLT - Government Sponsored (ex-Italy) 15,932 16,637 -4.2% 15,932 16,637 -4.2% VLT - Italy Supplier (B2B) 8,439 8,378 0.7% 8,43
Slide 21: Q3'15 KPIs – North America
22 Q3’15 KPIs – North America Periods Ended September 30 2015 2014 % change 2015 2014 % change Installed base (end of period) 40,919 44,941 -8.9% 40,919 44,941 -8.9% Machine units shipped New/Expansion 895 2,053 -56.4% 2,198 6,766 -67.5% Replacement 2,431 4,488 -45.8% 12,587 12,046 4.5% Total machin
Slide 22: Q3'15 KPIs - International
23 Q3’15 KPIs - International Periods Ended September 30 2015 2014 % change 2015 2014 % change Installed base (end of period) 9,768 10,798 -9.5% 9,768 10,798 -9.5% Machine units shipped New/Expansion 504 590 -14.6% 1,983 1,736 14.2% Replacement 2,792 5,570 -49.9% 6,829 11,393 -40.1% Total machines s
Slide 23: Q3'15 KPIs - Italy
24 Q3’15 KPIs - Italy Periods Ended September 30 2015 2014 % change 2015 2014 % change (In € millions, except machines) Lottery Lotto wagers 1,677 1,754 -4.4% 5,222 4,883 6.9% 10eLotto 1,009 963 4.8% 3,140 2,608 20.4% Core 605 610 -0.9% 1,809 1,910 -5.3% Late Numbers 63 181 -65.4% 273 365 -25.4% Scr
Slide 24: Q3'15 KPIs - Italy
Q3’15 KPIs - Italy Third Quarter ‘Nine Months, Periods Ended September 30 2015 2014 _% change 20152014 % change (in € milions, except machines) Lottery Lotto wagers 16774754 A. 5222-4883 6.9% ‘0eLoto 1000 "963 4.8% 3140 2,608 20.4% Core 605 610 -0.9% 119091910 5.3% Late Numbers 6 181 65.4% 273385 25
International Game Technology — Q3 2015 Earnings Presentation on 6ix