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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 — Q1 2023 Earnings Presentation
29 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, May 9, 2023
Slide 1: First Quarter - Period ended March 31, 2023
FIRST QUARTER Period ended March 31, 2023 SF IGT.
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
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Slide 4: Momentum Across All Operating Segments Fuels Strong Start to Year
Momentum Across All Operating Segments Fuels Strong Start to Year 4 Q1’23 revenue exceeds expectations Accelerated Global Lottery same-store sales growth High-teens increase for Global Gaming and PlayDigital 24% operating income margin at high end of outlook on better-than-expected Global Gaming mar
Slide 5: Global Lottery Growth Driven by New Games, Portfolio Optimization & Elevated Jackpot Activity
Global Lottery Growth Driven by New Games, Portfolio Optimization & Elevated Jackpot Activity Q1’23 global same-store sales up 8%, the fastest growth in the last six quarters Italy same-store sales increase over 10% on new games & portfolio optimization strategies 10eLotto growth helped by Gong add-
Slide 6: Global Gaming Executing on All Fronts, Delivering Double-digit Revenue & Profit Growth
Global Gaming Executing on All Fronts, Delivering Double-digit Revenue & Profit Growth Highest unit shipments ever for a Q1 period; leading U.S. & Canada ship share* matched with record ASPs Continued success of Wolf Run Eclipse™ and Egyptian Link™ complemented by exciting pipeline of new MLP games
Slide 7: Focused Initiatives Fuel PlayDigital Momentum
Focused Initiatives Fuel PlayDigital Momentum iCasino growth supported by strategic initiatives U.S. & Canada growth fueled by improved cadence of new game launches; iSoftBet contribution in Q1’23 period Strong increase in progressive jackpot game play Launch of Wheel of Fortune® Online Casino with
Slide 8: Strategy to Grow, Innovate, Optimize Delivering Results
Strategy to Grow, Innovate, Optimize Delivering Results 8 Compelling innovation matched with strong player and customer demand is fueling momentum across segments Q1’23 results put us firmly on track to achieve FY’23 goals Strength of cash flows, balance sheet, and access to significant liquidity su
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Slide 10: Strong Q1'23 Financial Results Meet or Exceed Expectations
Strong Q1’23 Financial Results Meet or Exceed Expectations 10 Note: EUR/USD FX daily average 1.07 in Q1’23; 1.12 in Q1’22 (1)Italy commercial services business was sold in September 2022 (2)Diluted EPS primarily reflects foreign currency gains/losses and related tax impacts *Non-GAAP measure; see di
Slide 11: Global Lottery: Sustained Player Demand Trends Drive Solid Financial Results
Revenue $624M Global Lottery: Sustained Player Demand Trends Drive Solid Financial Results Revenue down 8% as reported; net of FX and sale of Italy commercial services, revenue rose 4% Global same-store sales up 8% with growth across geographies and game types Lower product sales primarily reflects
Slide 12: Global Gaming: Compelling Products & Strong Operating Leverage Propel Higher Revenue & Profit
Global Gaming: Compelling Products & Strong Operating Leverage Propel Higher Revenue & Profit 12 Revenue up 17% with growth across service and product sale revenue streams Global shipments of 8,272 units, up 15% Y/Y Primarily driven by higher U.S. & Canada units Record global ASPs increase 12% Globa
Slide 13: PlayDigital: Top-Line Growth Impacted by Timing of Jackpot Expense
Revenue rises 17%; up 20% at constant currency Increased iCasino revenue fueled by organic growth and contributions from acquisition Organic growth more than offset by higher jackpot expense, which increased $10M Y/Y Expanded content and distribution network from iSoftBet acquisition New jurisdictio
Slide 14: Financial Flexibility Strengthened by Solid Cash Generation, Lower Leverage & Significant Liquidity
*Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details Financial Flexibility Strengthened by Solid Cash Generation, Lower Leverage & Significant Liquidity 14 Continued improvement in cash generation Payments to mi
Slide 15: Strong Q1'23 Results Provide Confidence in Achieving FY'23 Outlook
Revenue Operating Income Margin Cash from Operations Capital Expenditures Strong Q1’23 Results Provide Confidence in Achieving FY’23 Outlook Reaffirming FY’23 Outlook Introducing Q2’23 Outlook ~$1.0BRevenue Operating Income Margin 22% – 24% $4.1B – $4.3B 21% – 23% $900M - $1,000M $400M - $450M Note:
Slide 16: 2023 Off to Good Start on Solid Q1'23 Financial Performance
2023 Off to Good Start on Solid Q1’23 Financial Performance 16 Revenue of $1.06B exceeds high end of outlook $255M in operating income 24% operating income margin at high end of outlook Strong Q1’23 Financial Results Solid Cash Flow Generation Continued improvement in cash generation Distributed $40
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Slide 18: Appendix
@ IGT APPENDIX
Slide 19: FY'22 Snapshot of Revenue & Profit Profile
19 41% Note: $ millions, except noted otherwise (1)Segment-level profit charts exclude Corporate support expense and purchase price amortization 61% 34% 5% Lottery Gaming PlayDigital 80% 20% Service Product Sales 60%25% 15% U.S. & Canada Italy Rest of world 76% 20% 4% Lottery Gaming PlayDigital 75%
Slide 20: Q1'23 Select Performance and KPI Data: Global Lottery
$ in millions except otherwise noted Q1'23 Select Performance and KPI Data GLOBAL LOTTERY Q1'23 Q1'22 Y/Y Change (%) Constant Currency Change (%) Q4'22 Sequential Change as Reported (%) Revenue Service Operating and facilities management contracts 637 599 6% 8% 622 2% Upfront license fee amortizatio
Slide 21: Q1'23 Select Performance and KPI Data: Global Gaming
$ in millions except otherwise noted (1) Excluded from yield calculations due to treatment as sales-type leases Q1'23 Select Performance and KPI Data GLOBAL GAMING Q1'23 Q1'22 Y/Y Change (%) Constant Currency Change (%) Q4'22 Sequential Change as Reported (%) Revenue Service Terminal 129 108 20% 23%
Slide 22: Q1'23 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 Q1'23 Select Performance and KPI Data GLOBAL GAMING (Continued) Q1'23 Q1'22 Y/Y Change (%) Q4'22 Yields (by geography)(1), in absolute $ US & Canada $42.36 $39.05 8% $42.08 Rest of world $7.
Slide 23: Q1'23 Select Performance and KPI Data: PlayDigital and Consolidated
Q1'23 Select Performance and KPI Data PLAYDIGITAL Q1'23 Q1'22 Y/Y Change (%) Constant Currency Change (%) Q4'22 Sequential Change as Reported (%) Revenue Service 55 47 17% 21% 65 (16)% Product sales — — (60)% (60)% — (45)% Total revenue 55 47 17% 20% 65 (16)% Operating income 14 13 9% 15% 17 (15)% A
Slide 24: Q1'23 Summarized Income Statement
Q1'23 Summarized Income Statement For the three months ended March 31, 2022 2021 Y/Y Change (%) Constant Currency Change (%) Service revenue 846 846 —% 2% Product sales 215 205 5% 6% Total revenue 1,060 1,051 1% 3% Total operating expenses 805 799 1% (3)% Operating income 255 252 1% 3% Interest expe
Slide 25: Summarized Cash Flow Statement
Summarized Cash Flow Statement For the three months ended March 31, 2023 2022 Net cash provided by operating activities 311 189 Capital expenditures (94) (73) Free cash flow 217 115 Debt proceeds/(repayments), net (17) 21 Repurchases of common stock — (39) Shareholder dividends paid (40) (41) Minori
Slide 26: Reconciliations of Non-GAAP Measures - Q1'23
For the three months ended March 31, 2023 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT PLC Net income 67 Provision for income taxes 87 Interest expense, net 70 Foreign exchange loss, net 26 Other non-operating expense, net 4 Operating income (loss) 2
Slide 27: Reconciliations of Non-GAAP Measures - Q1'23 (EPS)
For the three months ended March 31, 2023 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.11 Adjustments: Foreign exchange loss, net 0.13 (0.02) 0.15 Amortization - purchase accounting 0.20 0.05 0.15 Loss on extinguishment and modifications of debt, net 0
Slide 28: Reconciliations of Non-GAAP Measures - Q1'22
$ in millions (1) Includes amortization of upfront license fees For the three months ended March 31, 2022 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT PLC Net income 117 Provision for income taxes 65 Interest expense, net 76 Foreign exchange gain, ne
Slide 29: Reconciliations of Non-GAAP Measures - Q1'22 (EPS)
For the three months ended March 31, 2022 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.39 Adjustments: Foreign exchange gain, net (0.01) 0.04 (0.06) Amortization - purchase accounting 0.19 0.04 0.14 Discrete tax items — (0.14) 0.14 Other (non-recurring
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