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 2020 Earnings Presentation
27 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Aug 4, 2020
Slide 1: 2020 Second Quarter Results
2020 Second Quarter Results Ended June 30, 2020 August 4, 2020 1
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: Agenda
Agenda Business 1 Marco Sala, CEO Update Financial 2 Max Chiara, CFO Results 3 Q&A 3
Slide 4: Q2'20: Proactively Managed Global Lockdown
Q2’20: Proactively Managed Global Lockdown Results reflect impact of global casino closures and mobility restrictions during the second quarter Diversity of products and geographic reach support better- than-expected results • NAGI, NALO, and Italy segments achieve positive EBITDA • Benefit of cost-
Slide 5: Reinforced Priorities & Enhanced Continuity Plans for the New Normal
Reinforced Priorities & Enhanced Continuity Plans to Navigate the “New Normal” People Cost Initiatives Cash Flow & Liquidity • Global COVID-19 crisis management • Executed on temporary labor cost • Generated positive free cash team first priorities delivered measures, inclusive reduction of flow eve
Slide 6: Lottery: Remarkable Resilience Confirmed
Lottery: Remarkable Resilience Confirmed Global SSR ex-Italy down 2% • 6% growth in North America SSR • 27% decrease in International SSR; several markets closed during period Italy wagers down ~40% on shutdown of Lotto games in April, POS closures, and severe mobility restrictions • Swift, progress
Slide 7: Gaming: Global Activities Closed for Most of Period
Gaming: Global Activities Closed for Most of Period Revenue and profits down on full impact of global lockdown Major markets progressively re-opening since late May; early indications are encouraging • 85% of U.S. casinos now open • Italy gaming halls open since June • Strong machine productivity la
Slide 8: Gaming: Growing Interest and Progress in Digital & Betting Activities
Gaming: Growing Interest and Progress in Digital & Betting Activities All digital activities continue to post strong growth rates • Italy digital wagers up 33% • Global B2B digital wagers up 75%; 100%+ in NA Significant commitment from Svenska Spel across multiple solutions • Remote game server, dig
Slide 9: New Org Structure Maximizes Growth Potential
New Org Structure Maximizes Growth Potential 2019 Pro-Forma Revenue Announced new streamlined organization on July 1 with reporting on new segmentation scheduled for Q3 Gaming Lottery Lottery Simplified structure grounded in core competencies 52% 48% and global leadership positions; main objectives:
Slide 10: Focus on Driving Efficiency and Process Optimization
Focus on Driving Efficiency and Process Optimization Working on several initiatives to drive $200M+ in structural/discretionary cost savings: • Eliminate duplicative functions / streamline back office activities • Global technology optimization to re-focus on value accretive know-how • Rationalizing
Slide 11: Financial Results
Financial Results 11
Slide 12: Q2'20 Financial Highlights
Q2’20 Financial Highlights Revenue Operating Income (Loss) -48% Includes $43M in restructuring -94 Q2’19 Q2’20 Adjusted EBITDA Diluted EPS/ Adj. Diluted EPS -63% Note: Adjusted results remove impact of purchase price amortization, impairment charges, restructuring expense and transaction expense (se
Slide 13: Q2'20 North America Gaming & Interactive Highlights
Q2’20 North America Gaming & Interactive Highlights Key Performance Indicators Revenue % Change % Change at Q2'19 Q2'20 as Reported Constant FX Revenue 274 96 -65% -65% Operating income/(loss) 85 -20 NM NM Machine Units Shipped Q2'19 Q2'20 New & expansion 438 1,382 Replacement 4,223 1,344 Total 4,66
Slide 14: Q2'20 North America Lottery Highlights
Q2’20 North America Lottery Highlights Revenue Key Performance Indicators % Change % Change at Q2'19 Q2'20 as Reported Constant FX Revenue 309 273 -12% -11% Operating income 78 75 -4% -3% Same-store revenue growth Q2'19 Q2'20 Instant ticket & draw games 5.4% 10.5% Multistate jackpots 23.8% -28.0% To
Slide 15: Q2'20 International Highlights
Q2’20 International Highlights Revenue Key Performance Indicators % Change % Change at Q2'19 Q2'20 as Reported Constant FX Revenue 229 84 -64% -62% Operating income/(loss) 30 -20 NM NM Machine Units Shipped Q2'19 Q2'20 New & expansion 700 61 Replacement 5,863 208 Total 6,563 269 Same-store revenue g
Slide 16: Q2'20 Italy Highlights
Q2’20 Italy Highlights Revenue Key Performance Indicators % Change % Change at Q2'19 Q2'20 as Reported Constant FX Revenue 422 184 -56% -56% Operating income/(loss) 133 -7 NM NM €M Q2'19 Q2'20 % Growth Lotto wagers 2,064 914 -55.7% 10eLotto 1,507 610 -59.5% Core 479 256 -46.5% Late numbers 31 21 -32
Slide 17: On Track to Deliver $500M in 2020 Cost Savings/Avoidance
On Track to Deliver $500M in 2020 Cost Savings/Avoidance Average Monthly Fixed/Discretionary Costs ~$235M Achieved Q2 run rate in-line with expectations 1/3 reduction from original maintenance CapEx plan ~$155M Expect normalization of certain Similar reduction Primarily related to: expenses in H2’20
Slide 18: Cash Flow, Net Debt and Leverage Profile
Cash Flow, Net Debt and Leverage Profile Net Debt Net Net Debt Debt $325 net cash provided by operating activities Net Debt/LTM EBITDA 4.42x 4.31x 5.52x • Delivered $325 million in operating cash flow; $165 million in free cash flow • $93 million in net debt reduction since 12/31/19 as reported; $80
Slide 19: Ample Liquidity, No Significant Near-Term Maturities
Ample Liquidity, No Significant Near-Term Maturities Total liquidity of $2.3 billion as of 6/30/20 • $1.3 billion in unrestricted cash; $1.0 billion in additional borrowing capacity Issued $750 million 5.25% Notes due 2029 in the quarter • $500 million of net proceeds used to fund partial tender of
Slide 20: Key Messages
Key Messages Resilient, diversified business Disciplined cost management model • On track to meet $500 million cost savings • Large, geo-diversified revenue base target for 2020 • Resilience in lottery evident in • Focused on structural changes to drive improving wager trends permanent savings Stron
Slide 21: Q&A
Q&A 21
Slide 22: Appendix
Appendix 22
Slide 23: Q2'20 Income Statement (As Reported)
Q2’20 Income Statement (As Reported) Income Statement Q2'20 Q2'19 % Change Service revenue 560 980 -43% Product sales 77 254 -70% Total Revenue 637 1,234 -48% Adjusted EBITDA 168 454 -63% Operating (Loss) Income (1) (94) 224 NM Interest expense, net (96) (104) Foreign exchange (74) (41) Other (29) 2
Slide 24: Q2'20 Reconciliation of Non-GAAP Measures
Q2’20 Reconciliation of Non-GAAP Measures As Reported $ in thousands Q2'20 Q2'19 Net (loss) income (282) 39 (Benefit from) provision for income taxes (11) 63 Interest expense, net 96 104 Foreign exchange loss, net 74 41 Other non-operating expense (income), net 29 (23) Operating (loss) income (94) 2
Slide 25: Q2'20 Reconciliation of Non-GAAP Measures
Q2’20 Reconciliation of Non-GAAP Measures As Reported $ and shares in thousands, except per share amounts Q2'20 Q2'19 Net (loss) income attributable to IGT PLC (280) 5 Foreign exchange loss, net 74 41 Depreciation and amortization - purchase accounting 43 48 Restructuring expense 44 2 Loss on exting
Slide 26: YTD '20 Financial Highlights
YTD ‘20 Financial Highlights Revenue Operating Income (Loss) Includes $296M in goodwill -34% impairment Includes $47M in restructuring -291 YTD 2019 YTD 2020 Adjusted EBITDA Diluted EPS/ Adj. Diluted EPS -45% Note: Adjusted results remove impact of purchase price amortization, impairment charges, re
Slide 27: YTD '20 Cash Flow Statement
YTD ‘20 Cash Flow Statement Cash Flow YTD '20 YTD '19 Net Cash Flows from Operating Activities 325 592 CapEx (160) (231) Free Cash Flow 165 361 Debt Proceeds/(Repayment), Net 591 33 Other - Net (129) (245) Other Investing/Financing Activities 462 (212) Net Cash Flow 627 149 Effect of Exchange Rates/