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 — Q3 2024 Earnings Presentation
30 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, 2024
Slide 1: Period ended September 30, 2024
Period ended September 30, 2024
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: Strategy Update
STRATEGY UPDATE [aw
Slide 4: Improvement in Instant Ticket & Draw Game Trends, Resilient Margins in YTD Period
Improvement in Instant Ticket & Draw Game Trends, Resilient Margins in YTD Period Generated revenue of $1.9B through first nine months Sustained momentum in Italy sales As expected, improved trends for instant ticket & draw games in U.S. Solid YTD profit and margin structure Delivered operating inco
Slide 5: Innovation Driving Multi-year Expansion of Instant Ticket & Draw Games Sales
Innovation Driving Multi-year Expansion of Instant Ticket & Draw Games Sales 5 66,488 79,576 78,903 YTD Q3'19 YTD Q3'23 YTD Q3'24 Gross Wagers by Game Type ($ in millions) Gross wagers represents wagers recorded in lottery jurisdictions where IGT is the operator or facilities management supplier ~$8
Slide 6: Important Progress on Key Strategic Initiatives
Awarded 10-year contract extension in NC iLottery focus driving continued growth Wagers up 26%+ QTD and YTD, fueled by top-performing games Broadening content distribution with non-platform customers New platform launch in CT Expanding instant ticket printing footprint Secured three-year primary con
Slide 7: NASPL & WLS Highlights: Future Forward, Growth Driven
NASPL & WLS Highlights: “Future Forward, Growth Driven” 7 ConnectCheck TM Retailer-To-Go S2 Digital Menu Board LotteryLinkTM GameFlex 48 Infinity InstantsTMeInstants
Slide 8: Strong, Experienced Management Team; OPtiMa 3.0 Focused on Supporting Key Growth Objectives
Strong, Experienced Management Team; OPtiMa 3.0 Focused on Supporting Key Growth Objectives 8 Vince Sadusky CEO Renato Ascoli CEO, Global Lottery Max Chiara EVP, CFO Wendy Montgomery SVP, Marketing, Communications & Sustainability Christopher Spears EVP, General Counsel Robert Vincent Chairperson, I
Slide 9: A Strong Foundation to Build Upon
Continued progress on Gaming & Digital sale transaction 9 A Strong Foundation to Build Upon Well-positioned to capitalize on attractive lottery industry dynamics Commitment to innovation and strategic product initiatives to drive growth Proactively building a leaner, more focused, and stronger organ
Slide 10: Financial Results
LA\GRANDE OCCASIONE: FINANCIAL fei beefs RESULTS
Slide 11: Financial Reporting Changes Due to Announced Sale of Gaming & Digital
Financial Reporting Changes Due to Announced Sale of Gaming & Digital Income statement Gaming & Digital results reflected as discontinued operations for all periods presented Separation & divestiture costs now reflected in discontinued operations Purchase price amortization related to Gaming intangi
Slide 12: Summary of Q3'24 and YTD'24 Financial Results
Summary of Q3’24 and YTD’24 Financial Results Note: EUR/USD FX daily average 1.10 in Q3’24, 1.09 in Q3’23, 1.09 YTD Q3’24, 1.08 YTD Q3’23 Amounts in millions unless otherwise noted 12
Slide 13: YTD Instant Ticket & Draw Wager Growth Helps Mitigate Timing Impact of U.S. Multi-state Jackpots
3.1% Italy same-store sales U.S. Multi-state Jackpots Instant Ticket & Draw Other Service & Upfront License Fee Amortization Product Sales 694 713 717 Excluding FX 916 YTD Q3’24 Revenue 1,858 1,861 FXYTD Q3’23 Revenue 912 918 243 227 228 1,849 YTD Instant Ticket & Draw Wager Growth Helps Mitigate Ti
Slide 14: Sustained, Strong Margin Profile in YTD Period
Sustained, Strong Margin Profile in YTD Period 555 507 YTD Q3’23 OI YTD Q3’24 OI YTD Q3’23 Adj. EBITDA Service Gross Margin Product Sales Gross Margin SG&A R&D Excluding FX FX YTD Q3’24 Adj. EBITDA 898 880 880 30.0% 48.6% 47.3%27.4% High flow- through from elevated jackpots in PY and inflationary im
Slide 15: Launching OPtiMa 3.0 to Reduce Structural Costs
Launching OPtiMa 3.0 to Reduce Structural Costs 15 OPtiMa 1.0 Delivered $200M+ in cost savings Mainly focused on reducing Gaming industrial footprint 2020-2021 OPtiMa 3.0 Targeting $40M in cost savings Solely applies to continuing operations 2025-2026 OPtiMa 2.0 Achieved $150M in cost savings Extens
Slide 16: Cash Generation Driven by Continuing Operations
16 $489M Year-to-date Cash from Operations (continuing operations) $385M Year-to-date Free Cash Flow (continuing operations) $104M Year-to-date CapEx (continuing operations) Cash Generation Driven by Continuing Operations Q3’24 cash from operations from continuing operations of $173M bolstered by st
Slide 17: No Near-Term Debt Maturities; Significant Portion of Sale Proceeds Committed to Debt Reduction
Net Debt as of September 30, 2024 Note: Amounts in $ in millions, unless otherwise noted *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details Pro forma net debt leverage calculated as net debt of $3.16B divided
Slide 18: Initiating Q4'24 & FY'24 Outlook
Initiating Q4’24 & FY’24 Outlook Note: EUR/USD FX at current rates *A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecast
Slide 19: Resilient YTD Results; Business Value Enhanced by Low Leverage Profile & Proactive Cost Initiatives
19 Resilient YTD Results; Business Value Enhanced by Low Leverage Profile & Proactive Cost Initiatives Solid Q3’24 and YTD’24 Financial Results Launched OPtiMa 3.0 to Align Costs with New Business Structure Strong Cash Generation Fueled by Free Cash Flow from Continuing Operations Initiating Q4’24 &
Slide 20: 20
20
Slide 21: Appendix
@ IGT APPENDIX
Slide 22: YTD'24 Revenue & Profit Profile – Continuing Operations
41% 95% 5% Service Product Sales 49% 39% 12% U.S. & Canada Italy Rest of world 27% 47% Operating income Adjusted EBITDA Revenue by Type Revenue by Geography Profit Margins YTD’24 Revenue & Profit Profile – Continuing Operations 22 Wager-based Revenue by Game Type 95% 5% Instant Ticket & Draw U.S. Mu
Slide 23: Lottery Sales Have Steady Growth Profile and Proven Resilience
IGT Italy Lottery Sales (€B)U.S. Lottery Industry Sales ($B) 17 19 21 22 2015 2019 2022 2023 Lottery Sales Have Steady Growth Profile and Proven Resilience 23 68 79 99 101 2015 2019 2022 2023 2019 2021 2023 15% 22%15% Market Share (GGR)(1) Successfully consolidating higher play levels March 2001– Se
Slide 24: Q3'24 Select Performance and KPI Data
$ in millions except otherwise noted Q3'24 Select Performance and KPI Data Q3'24 Q3'23 Y/Y Change Constant Currency Change Revenue Service Instant ticket & draw wager-based revenue 477 472 1% —% U.S. multi-state jackpot wager-based revenue 21 47 (56)% (56)% Upfront license fee amortization (48) (47)
Slide 25: Q3'24 Select Performance and KPI Data
Q3'24 Select Performance and KPI Data Same-store sales (SSS) growth (%) (Wager-based growth) (1) Q3'24 Constant Currency Change Q3'23 Constant Currency Change Global Instant ticket & draw games 1.0% (0.8)% U.S. multi-state jackpots (55.2)% 43.6% Total (5.8)% 3.1% U.S. & Canada Instant ticket & draw
Slide 26: Q3'24 Summarized Income Statement
Q3'24 Summarized Income Statement For the three months ended For the nine months ended September 30, September 30, All amounts from continuing operations 2024 2023 Y/Y Change 2024 2023 Y/Y Change Service revenue 566 576 (2)% 1,771 1,767 —% Product sales 20 25 (17)% 89 82 9% Total revenue 587 601 (2)
Slide 27: Summarized Cash Flow Statement
Summarized Cash Flow Statement For the three months ended For the nine months ended September 30, September 30, 2024 2023 2024 2023 Net cash provided by operating activities from continuing operations 173 226 489 620 Capital expenditures (30) (31) (104) (104) Free Cash Flow 144 195 385 516 Cash flow
Slide 28: Reconciliations of Non-GAAP Financial Measures
For the three months ended September 30, For the nine months ended September 30, 2024 2023 2024 2023 (Loss) income from continuing operations (46) 77 154 192 Provision for income taxes 61 65 161 209 Interest expense, net 53 54 160 154 Foreign exchange loss (gain), net 39 (36) 23 (9) Other non-operat
Slide 29: Reconciliations of Non-GAAP Measures - QTD
For the three months ended September 30, For the three months ended September 30, All amounts from continuing operations 2024 2023 Pre-Tax Impact Tax Impact (1) Net Impact Pre-Tax Impact Tax Impact (1) Net Impact Reported EPS from continuing operations attributable to IGT PLC - diluted (0.39) 0.23 A
Slide 30: Reconciliations of Non-GAAP Measures - YTD
For the nine months ended September 30, For the nine months ended September 30, All amounts from continuing operations 2024 2023 Pre-Tax Impact Tax Impact (1) Net Impact Pre-Tax Impact Tax Impact (1) Net Impact Reported EPS from continuing operations attributable to IGT PLC - diluted 0.17 0.38 Adjus
International Game Technology — Q3 2024 Earnings Presentation on 6ix