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 2023 Earnings Presentation
36 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Aug 1, 2023
Slide 1: Q2 2023, Period ended June 30, 2023
2° QUARTER Period ended June 30, 2023 etd Ss 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
Slide 3: Remembering Fabio Cairoli
Remembering Fabio Cairoli 3
Slide 4: P IGT.
P IGT.
Slide 5: Solid Momentum Across All Business Segments; Raising FY'23 Outlook
Solid Momentum Across All Business Segments; Raising FY’23 Outlook on Strong H1’23 Performance H1’23 revenue growth of 2%; up 10% excluding Italy commercial services(1) Mid-single-digit Global Lottery growth (ex-Italy commercial services) Double-digit increases for Global Gaming & PlayDigital segmen
Slide 6: Focused Execution of Key Strategic Initiatives Strengthens Global Lottery Leadership
Focused Execution of Key Strategic Initiatives Strengthens Global Lottery Leadership Game innovation and portfolio optimization initiatives drive global same-store sales (SSS) up 5% in H1’23 9% increase in Italy SSS fueled by double-digit instants growth 4% increase in North America & Rest of world
Slide 7: Global Gaming Momentum Clear in KPI Trends
Global Gaming Momentum Clear in KPI Trends, Strong Revenue & Profit Growth Shipped 16,500+ units YTD, up 15%, complemented by 13% increase in ASPs; maintain leading U.S. & Canada ship share* Success of multi-level progressive (MLP) games, including Raise the Sails™ and Cats Wild Serengeti™ on PeakSl
Slide 8: Accelerated PlayDigital Growth Fueled by Expanding Portfolio
Accelerated PlayDigital Growth Fueled by Expanding Portfolio of Compelling Games & Solutions Core franchises, progressive jackpot & unique omnichannel WAP games, drive strong iGaming results Fortune Coin™, Cash Eruption™, and Cleopatra™ secure top three spots on EGR North America’s June 2023 U.S. sl
Slide 9: Key Strategic Initiatives Designed to Unlock Value of Market-leading Assets
Key Strategic Initiatives Designed to Unlock Value of Market-leading Assets IGT has made important strategic progress over the Compelling Opportunity to Unlock Value(2) last three years Sharpened strategic focus by reorganizing around core product leadership 2024E EV/EBITDA Multiples(2) positions Mo
Slide 10: Wigs <="
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Slide 11: Strong Q2'23 Performance Meets High End of Outlook
Strong Q2’23 Performance Meets High End of Outlook Note: EUR/USD FX daily average 1.09 in Q2’23, 1.06 in Q2’22, 1.08 YTD Q2’23, 1.09 YTD Q2’22 (1)Italy commercial services business was sold in September 2022 (2)Diluted EPS primarily reflects accrual of DDI/Benson matter in prior year *Non-GAAP measu
Slide 12: Solid Q2'23 Performance in Global Lottery
Solid Q2’23 Performance in Global Lottery Driven by Robust Italy Same-Store Sales Growth, LMA Incentives Revenue down 4% as reported; net of sale of Italy commercial services, revenue rose 8% Revenue $624M Global SSS increase 2% Italy SSS up 8% on continued momentum in instant ticket and draw games
Slide 13: Strong Q2'23 Global Gaming Results
Demand for Innovative Products & Services Yields Strong Q2’23 Global Gaming Results Revenue grows 13%, led by unit shipments and system sales Revenue Global unit shipments increase 15% to 8,269 units $373M Record U.S. & Canada shipments for a Q2 period bolstered by U.S. & Canada casino replacement u
Slide 14: Improvements to Internal Processes Require Capitalization of Certain Costs
Improvements to Internal Processes Require Capitalization of Certain Costs OPtiMa-related initiatives have transformed IGT into a more efficient and profitable organization Operational Product Margin Excellence Simplification Improvement Supply chain optimization Global product verticals Best-in-cla
Slide 15: Double-Digit Q2'23 PlayDigital Growth
Double-Digit Q2’23 PlayDigital Growth Supported by Expanded Omnichannel & Digital Jackpot Offerings Revenue up 38% on strong North America GGR trends and contribution from iSoftBet acquisition iGaming growth propelled by expansive game portfolio Revenue and omnichannel and wide-area progressive offe
Slide 16: Strong Balance Sheet Supported by Solid Cash Generation
Strong Balance Sheet Supported by Solid Cash Generation YTD Cash Flows as of June 30, 2023 CFO includes $220M, ~$205M after tax, outflow in final settlement of the DDI/Benson matter (Benson) $143M $193M $345M CapEx Free Cash Flow* 3.1x net debt leverage*; Benson payment Cash from impact of ~0.1x $35
Slide 17: Raising FY'23 Outlook on Strong H1'23 Performance
Raising FY’23 Outlook on Strong H1’23 Performance Improved FY’23 Outlook Key FY’23 Outlook Assumptions Revenue $4.2B – $4.3B OI margin includes ~100 bp negative impact • Previously communicated: Higher D&A, primarily related to investments in the installed base; restructuring charges Operating Incom
Slide 18: Progress on Achieving 2025 Targets
Progress on Achieving 2025 Targets Consolidated Global Lottery Global Gaming PlayDigital Net Debt Revenue & OI Margin Revenue OI Margin Revenue OI Margin Revenue OI Margin Leverage ✓ ✓ ✓ ✓ Legend: ✓ Target Achieved On track Further to go Global Gaming Bridge to 2025 OI Margin Target ~3% ~+/-1% 28% -
Slide 19: Strong H1'23 Performance & Balance Sheet Provide Solid Foundation for Growth
Strong H1’23 Performance & Balance Sheet Provide Solid Foundation for Growth Robust Revenue Growth Raising FY’23 & OI Margin Outlook Expansion Improved Strong Leverage Cash Flow Profile Generation 19
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20
Slide 21: Appendix
APPENDIX
Slide 22: H1'23 Snapshot of Revenue & Profit Profile
H1’23 Snapshot of Revenue & Profit Profile Revenue by Segment Revenue by Type Revenue by Geography 5% 15% 21% 36% 59% 23% 79% 62% Lottery Gaming PlayDigital Service Product Sales U.S. & Canada Italy Rest of world Segment-level Segment-level Profit Margins Operating Income(1) Adjusted EBITDA(1) 4% 54
Slide 23: Q2'23 Select Performance and KPI Data
Q2'23 Select Performance and KPI Data Constant Sequential Currency Change as GLOBAL LOTTERY Q2'23 Q2'22 Y/Y Change Change Q1'23 Reported Revenue Service Operating and facilities management contracts 623 581 7% 6% 637 (2)% Upfront license fee amortization (47) (46) (3)% —% (47) (1)% Operating and fac
Slide 24: Q2'23 Select Performance and KPI Data
Q2'23 Select Performance and KPI Data Constant Sequential Currency Change as GLOBAL GAMING Q2'23 Q2'22 Y/Y Change Change Q1'23 Reported Revenue Service Terminal 128 123 4% 7% 129 (1)% Systems, software, and other 59 56 6% 7% 60 —% Total service revenue 188 179 5% 7% 189 (1)% Product sales Terminal 1
Slide 25: Q2'23 Select Performance and KPI Data
Q2'23 Select Performance and KPI Data GLOBAL GAMING (Continued) Q2'23 Q2'22 Y/Y Change Q1'23 Yields (by geography)(1), in absolute $ US & Canada $41.89 $42.64 (2)% $42.36 Rest of world $7.44 $6.20 20% $7.41 Total yields $29.56 $30.55 (3)% $30.13 Global machine units sold New/expansion 1,061 818 30%
Slide 26: Q2'23 Select Performance and KPI Data
Q2'23 Select Performance and KPI Data Constant Sequential Currency Change as PLAYDIGITAL Q2'23 Q2'22 Y/Y Change Change Q1'23 Reported Revenue Service 59 43 38% 40% 55 8% Product sales — — (78)% (78)% — (74)% Total revenue 59 43 38% 39% 55 8% Operating income 18 8 125% 132% 14 30% Adjusted EBITDA 22
Slide 27: Q2'23 Summarized Income Statement
Q2'23 Summarized Income Statement For the three months ended June 30, Constant Currency 2023 2022 Y/Y Change Change Service revenue 835 842 (1)% (1)% Product sales 220 179 23% 23% Total revenue 1,055 1,021 3% 3% Total operating expenses 805 793 1% (2)% Operating income 251 228 10% 9% Interest expens
Slide 28: Summarized Cash Flow Statement
Summarized Cash Flow Statement For the three months ended For the six months ended June 30, June 30, 2023 2022 2023 2022 Net cash provided by operating activities 34 196 345 385 Capital expenditures (99) (79) (193) (153) Payments on license obligations (7) — (8) — Free cash flow (72) 117 143 232 Deb
Slide 29: Reconciliations of Non-GAAP Measures - Q2'23
Reconciliations of Non-GAAP Measures - Q2'23 For the three months ended June 30, 2023 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT PLC Net income 90 Provision for income taxes 86 Interest expense, net 71 Foreign exchange loss, net 5 Other non-operati
Slide 30: Reconciliations of Non-GAAP Measures - Q2'23
Reconciliations of Non-GAAP Measures - Q2'23 For the three months ended June 30, 2023 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.23 Adjustments: Foreign exchange loss, net 0.03 — 0.02 Amortization - purchase accounting 0.19 0.05 0.14 Discrete tax ite
Slide 31: Reconciliations of Non-GAAP Measures - Q2'22
Reconciliations of Non-GAAP Measures - Q2'22 For the three months ended June 30, 2022 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT PLC Net income 34 Benefit from income taxes (11) Interest expense, net 75 Foreign exchange gain, net (19) Other non-ope
Slide 32: Reconciliations of Non-GAAP Measures - Q2'22
Reconciliations of Non-GAAP Measures - Q2'22 For the three months ended June 30, 2022 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted (0.02) Adjustments: Foreign exchange gain, net (0.09) 0.04 (0.14) Amortization - purchase accounting 0.19 0.05 0.14 Discret
Slide 33: Reconciliations of Non-GAAP Measures - YTD Q2'23
Reconciliations of Non-GAAP Measures - YTD Q2'23 For the six months ended June 30, 2023 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT PLC Net income 157 Provision for income taxes 173 Interest expense, net 141 Foreign exchange loss, net 32 Other non-o
Slide 34: Reconciliations of Non-GAAP Measures - YTD Q2'23
Reconciliations of Non-GAAP Measures - YTD Q2'23 For the six months ended June 30, 2023 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.34 Adjustments: Foreign exchange loss, net 0.16 (0.02) 0.18 Amortization - purchase accounting 0.38 0.09 0.29 Loss on e
Slide 35: Reconciliations of Non-GAAP Measures - YTD Q2'22
Reconciliations of Non-GAAP Measures - YTD Q2'22 For the six months ended June 30, 2022 Business Global Global Segments Corporate Total Lottery Gaming PlayDigital Total and Other IGT PLC Net income 151 Provision for income taxes 53 Interest expense, net 151 Foreign exchange gain, net (22) Other non-
Slide 36: Reconciliations of Non-GAAP Measures - YTD Q2'22
Reconciliations of Non-GAAP Measures - YTD Q2'22 For the six months ended June 30, 2022 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.37 Adjustments: Foreign exchange loss, net (0.11) 0.08 (0.19) Amortization - purchase accounting 0.37 0.09 0.28 Discret