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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 2019 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 14, 2019
Slide 1: 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 2: Agenda
Agenda Marco Sala, CEO Strategic Update 1 Alberto Fornaro, CFO Q3’19 Results 2 Q&A 3 3
Slide 3: Agenda
Agenda Marco Sala, CEO Alberto Fornaro, CFO ie oo
Slide 4: Q3'19 Results Led by Gaming
Q3’19 Results Led by Gaming 5 Solid core business momentum Strong KPIs Global gaming machine unit sales up sharply YTD free cash flow marks important inflection point
Slide 5: Lotteries Continue to Perform; Leveraging Distribution to Drive Growth
6 2% SSR growth outside Italy; Italy wagers stable Strong North American product sales reflect growing suite of self-service options GameTouch 20™ Solution for big-box, national retailers Won Lottery Product of the Year at International Gaming Awards GameTouch Draw™ Facilitates Keno expansion Inspir
Slide 6: Wins & Extensions Secure Future
Wins & Extensions Secure Future 7 Several North American contract wins & extensions Wins: Mississippi Extensions: Colorado, Minnesota, Kentucky, Oregon Awarded 15-year Brazil instant ticket license through 50-50 joint venture Expect to be operational in H2’20 Compelling incremental growth driver
Slide 7: Strong Quarter for Global Gaming Business
Strong Quarter for Global Gaming Business 8 44% increase in unit sales of gaming machines driven by strong replacement demand NA replacements up 38% International replacements up 88%; new Cobalt cabinet launched in Eastern Europe North America installed base stable, yields higher Continued rollout o
Slide 8: G2E Highlights Strategy of "Player-Driven Performance"
G2E Highlights Strategy of “Player-Driven Performance” 9 Core video offer showcases evolution of proven franchises Focus on multi-link progressives, a growing market segment worldwide New Peak cabinets for leased games Strong video poker showing should support continued segment leadership
Slide 9: U.S. Sports Betting Solutions Gaining Momentum
U.S. Sports Betting Solutions Gaining Momentum 10 IGT powering 35 casino-based sportsbooks in 11 states Mobile/digital active in 7 states >200 self-service terminals deployed Leading market share in NJ & PA confirms stability and scalability of offer “Sportsbook in a box” solutions featured at G2E E
Slide 10: Confident in Continued Progress for Global Lottery & Gaming
Confident in Continued Progress for Global Lottery & Gaming 11 Italy budget law process still evolving Proven record of minimizing impact on P&L Italy profits have grown despite higher taxes over the last several years Working on initiatives to offset new taxes Confidence in future rooted in focus o
Slide 11: 2019 Third Quarter Financial Results
2019 Third Quarter Financial Results 12
Slide 12: Q3'19 Financial Highlights
Q3’19 Financial Highlights Adjusted Operating Income Adjusted EBITDA Diluted EPS Note: Adjusted results remove impact of purchase price amortization, impairment charges, restructuring expense and transaction expense (see appendix for details) EUR/USD FX daily average: 1.11 in Q3’19; 1.16 in Q3’18 $
Slide 13: Q3'19 North America Gaming & Interactive Highlights
Q3’19 North America Gaming & Interactive Highlights Revenue Key Performance Indicators Replacement units up sharply on success of new products; rising ASPs Higher intellectual property revenue from multi-year technology license Installed base stable Y/Y and sequentially on underlying basis; yields h
Slide 14: Q3'19 North America Lottery Highlights
Q3’19 North America Lottery Highlights Revenue Key Performance Indicators Increased product sales across multiple states; overcomes lower Illinois revenue but at a reduced margin Solid SSR growth for instant ticket and draw games offset by lower multistate jackpot activity Operating income reflects
Slide 15: Q3'19 International Highlights
Q3’19 International Highlights Revenue Key Performance Indicators Operating income reflects high-margin Finland transaction in the PY Solid lottery SSR growth Very sharp increase in replacement unit shipments; Sweden VLT system sale also recognized in the quarter Gaming service down on smaller insta
Slide 16: Q3'19 Italy Highlights
Revenue Key Performance Indicators Total revenue stable at constant FX, overcoming impact of higher gaming machine taxes Total lottery wagers in line with PY Machine gaming reflects impact of increased taxes Higher commercial services revenue partially offset by sports betting payout Operating incom
Slide 17: Net Debt and Leverage Profile
Net Debt and Leverage Profile $ M except where noted otherwise 18 ~$200 million in debt reduction at constant currency Leverage of 4.34x compared to 4.47x at December 31, 2018 7,761 (1,277) 369 138 (19) 333 123 215 (77) 7,566 (212) 7,354 12/31/18 @ 1.15 Adjusted EBITDA Interest Exp. - Net Income Tax
Slide 18: Debt Maturity Schedule
Debt Maturity Schedule Q3’19 capital markets activity: Issued €500 million 2.375% Notes due 2028 ~ €320 million of net proceeds used to pay January 2020 term loan amortization Balance used to repay all revolving credit facility borrowings Liquidity exceeds debt maturities through 2022: ~ $1.7 billio
Slide 19: Cash Flow Statement
Cash Flow Statement $ M except where noted otherwise $789 million in operating cash flow $456 million of free cash flow $215 million of minority distributions Heavily concentrated in the first half of the year Accelerated return of capital to Lotto JV partners $123 million returned to shareholders $
Slide 20: FY'19 Outlook
FY’19 Outlook 2019 Adjusted EBITDA of $1.675 - $1.735 billion Updating CapEx to $450 - $500 million; previously $450 - $550 million Assumes full-year EUR/USD rate of 1.12 21
Slide 21: Appendix
Appendix 23
Slide 22: Q3'19 Income Statement (As Reported)
Q3’19 Income Statement (As Reported) $ M except where noted otherwise 24 Income Statement Q3'19 Q3'18 % Change Service revenue 922 963 -4% Product sales 231 193 20% Total Revenue 1,153 1,156 0% Adjusted EBITDA 407 443 -8% Operating Income 154 200 -23% Interest expense, net (103) (104) Foreign exchan
Slide 23: Q3'19 Reconciliation of Non-GAAP Measures
Q3’19 Reconciliation of Non-GAAP Measures 25 Quarter to date Quarter to date September 2019 Adjustments September 2019 As Purchase Foreign Refinancing and As Reported Accounting Exchange Impairment Other Adjusted Total revenue 1,153,247 (181) - - - 1,153,066 Cost of services 575,594 (17,947) - - - 5
Slide 24: Q3'19 Reconciliation of Non-GAAP Measures
Q3’19 Reconciliation of Non-GAAP Measures $ M except where noted otherwise 26 As Reported Q3'19 Q3'18 Net income (loss) 131 54 Provision for/(Benefit from) income taxes 44 46 Non-operating (income) expenses (21) 99 Depreciation 106 110 Amortization 70 68 Service revenue amortization 51 54 Stock-base
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