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 — Q2 2024 Earnings Presentation
33 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Jul 30, 2024
Slide 1: Q2 2024 Earnings, Period ended June 30, 2024
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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
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Slide 4: Strong H1'24 Revenue & Profit Performance
Strong H1’24 Revenue & Profit Performance 4 Delivered $2.1B in revenue and 23% operating margin Achieved record H1’24 operating income and Adjusted EBITDA* net of Separation and divestiture costs Published 17th annual Sustainability Report Recently announced sale of Gaming & Digital business to Apol
Slide 5: Key Highlights of Gaming & Digital Sale
$4.05 billion gross cash proceeds for IGT’s Gaming & Digital business Significant increase in cash received vs. $2.59 billion in IGT/EVRI transaction Quicker crystallization of value upon closing; removes IGT shareholder exposure to execution risk Clear separation of Global Lottery from Gaming & Dig
Slide 6: Strong Financial Profile with Focused Approach to Capital Allocation
Strong Financial Profile with Focused Approach to Capital Allocation Establishing a Best-in-class Global Pure Play Lottery Company 6 Diversified Contract Mix, Strong Positions in Important Markets Attractive Industry Fundamentals Unmatched Scope of B2C/B2B/B2G Capabilities Infrastructure-like Invest
Slide 7: Best-in-class Technology & Solutions Bolster Global Lottery Portfolio
H1’24 revenue up 2% Y/Y on top of 5% growth in PY(1) Game innovation in Italy & multi-jurisdiction jackpots driving global same-store sales growth Italy same-store sales up 3.4% in H1’24 iLottery sales up 27% in H1’24 Best-in-class solutions fuel ongoing success securing contract wins & extensions S
Slide 8: Compelling Games Driving Gaming & Digital Performance
*Per July 2024 Eilers & Krejcik Gaming research; market share is in terms of total GGR generated 8 Global installed base up 4% Y/Y; 8th consecutive quarter of sequential growth, led by premium games Tiger and Dragon MLP ranks as #1 New Premium Leased & WAP game* Launch of Whitney Houston wide-area p
Slide 9: On Track with Operational & Strategic Objectives
9 Achieved record H1’24 profitability*, excluding Separation and divestiture costs On Track with Operational & Strategic Objectives Executing plans to unlock intrinsic value of IGT’s best-in-class businesses * Operating income and Adjusted EBITDA
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Slide 11: Q2'24 Revenue & Profit Meet Expectations
Q2’24 Revenue & Profit Meet Expectations Note: EUR/USD FX daily average 1.08 in Q2’24, 1.09 in Q2’23, 1.08 YTD Q2’24, 1.08 YTD Q2’23 (1)Operating income and Adjusted EBITDA include $26M in Q2’24 and $44M in YTD’24 of Separation and divestiture costs related to the planned separation of the Gaming &
Slide 12: Solid Q2'24 Global Lottery Performance
Solid Q2’24 Global Lottery Performance Operating Income $212M 12 Revenue $613M Service revenue in line with PY, anchored by same-store sales growth and new CT contract Global same-store sales rise 0.9% Italy increases 2.3% North America & Rest of world up 0.6% Product sales comparison reflects PY mu
Slide 13: Operating Profit Expansion Continues in Gaming & Digital
Operating Income $103M OI Margin 24% Revenue $436M Operating Profit Expansion Continues in Gaming & Digital Global installed base grows 2,100+ units Y/Y, primarily driven by MLP success Sequentially, installed base higher for 8th consecutive quarter Resilient yield trends Product sale revenue stable
Slide 14: Solid H1'24 Financial Performance Yields Strong Cash Flow Generation
14 $463M Cash from Operations (CFO) $199M CapEx & License Obligations 214 214 428 500 1,553 750 535 750 638 2024 2025 2026 2027 2028 2029 Drawn RCF Bonds Bank Debt Debt Maturity Profile ($M) $264M Free Cash Flow* 0 *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly
Slide 15: Financial Highlights of Gaming & Digital Sale
Minimal tax leakage for IGT PLC due to participation exemption in the U.K. Up to $100 million related to intragroup realignment transactions Eliminates tax impact to IGT shareholders from previously contemplated equity distribution ~$400 million in transaction-related cash outflows, same as previous
Slide 16: Continued Progress on Strategic & Financial Goals
16 Continued Progress on Strategic & Financial Goals with Solid H1’24 Performance Q2’24 revenue & OI margin meet expectations Gaming & Digital to be reported as discontinued operations beginning Q3’24 Strong cash flow generation
Slide 17: HALLAM oS
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Slide 18: Appendix
APPENDIX
Slide 19: H1'24 Revenue & Profit Profile
41% (1)Segment-level profit charts exclude Corporate support expense and purchase price amortization 60% 40% Global Lottery Gaming & Digital 81% 19% Service Product Sales 63% 23% 14% U.S. & Canada Italy Rest of world 72% 28% Global Lottery Gaming & Digital 71% 29% Global Lottery Gaming & Digital 37%
Slide 20: Q2'24 Select Performance and KPI Data: Global Lottery
$ in millions except otherwise noted Q2'24 Select Performance and KPI Data GLOBAL LOTTERY Q2'24 Q2'23 Y/Y Change Constant Currency Change Q1'24 Sequential Change as Reported Revenue Service Operating and facilities management contracts 620 623 (1)% —% 653 (5)% Upfront license fee amortization (47) (
Slide 21: Q2'24 Select Performance and KPI Data: Gaming & Digital
$ in millions except otherwise noted (1) Excluded from yield calculations due to treatment as sales-type leases Q2'24 Select Performance and KPI Data GAMING & DIGITAL Q2'24 Q2'23 Y/Y Change Constant Currency Change Q1'24 Sequential Change as Reported Revenue Service Terminal 133 128 4% 4% 131 1% iGa
Slide 22: Q2'24 Select Performance and KPI Data: Gaming & Digital (Continued)
$ in millions except otherwise noted (1) Excludes Casino L/T lease units due to treatment as sales-type lease Q2'24 Select Performance and KPI Data GAMING & DIGITAL (Continued) Q2'24 Q2'23 Y/Y Change Q1'24 Yields (by geography)(1), in absolute $ US & Canada $42.01 $41.89 —% $41.17 Rest of world $7.4
Slide 23: Q2'24 Select Performance and KPI Data: Consolidated
Q2'24 Select Performance and KPI Data CONSOLIDATED Q2'24 Q2'23 Y/Y Change Constant Currency Change Q1'24 Sequential Change as Reported Revenue (by geography) US & Canada 661 650 2% 2% 660 —% Italy 237 240 (1)% (1)% 258 (8)% Rest of world 151 164 (8)% (8)% 150 1% Total revenue 1,049 1,055 (1)% —% 1,0
Slide 24: Q2'24 Summarized Income Statement
Q2'24 Summarized Income Statement For the three months ended For the six months ended June 30, June 30, 2024 2023 Y/Y Change 2024 2023 Y/Y Change Service revenue 837 835 —% 1,709 1,681 2% Product sales 213 220 (4)% 408 435 (6)% Total revenue 1,049 1,055 (1)% 2,117 2,116 —% Total operating expenses 8
Slide 25: Summarized Cash Flow Statement
Summarized Cash Flow Statement For the three months ended For the six months ended June 30, June 30, 2024 2023 2024 2023 Net cash provided by operating activities 343 34 463 345 Capital expenditures (101) (99) (185) (193) Payments on license obligations (7) (7) (14) (8) Free cash flow 235 (72) 264 1
Slide 26: Reconciliations of Non-GAAP Measures - Q2'24
For the three months ended June 30, 2024 Business Global Gaming & Segments Corporate Total Lottery Digital Total and Other IGT PLC Net income 85 Provision for income taxes 71 Interest expense, net 73 Other non-operating expense, net 1 Operating income (loss) 212 103 315 (86) 230 Depreciation 43 31 7
Slide 27: Reconciliations of Non-GAAP Measures - Q2'24 (EPS)
For the three months ended June 30, 2024 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.20 Adjustments: Foreign exchange loss, net (0.01) 0.01 (0.02) Currency conversion impacts of hyper-inflationary economies 0.01 — 0.01 Amortization - purchase accounti
Slide 28: Reconciliations of Non-GAAP Measures - Q2'23
$ in millions (1) Includes amortization of upfront license fees For the three months ended June 30, 2023 Business Global Gaming & Segments Corporate Total Lottery Digital Total and Other IGT PLC Net income 90 Provision for income taxes 86 Interest expense, net 71 Foreign exchange loss, net 5 Other n
Slide 29: Reconciliations of Non-GAAP Measures - Q2'23 (EPS)
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 0.00 0.00 0.00 Currency conversion impacts of hyper-inflationary economies 0.02 — 0.02 Amortization - purchase accounting 0
Slide 30: Reconciliations of Non-GAAP Measures - YTD Q2'24
Reconciliations of Non-GAAP Measures - YTD Q2'24 For the six months ended June 30, 2024 Business Global Gaming & Segments Corporate Total Lottery Digital Total and Other IGT PLC Net income 213 Provision for income taxes 141 Interest expense, net 145 Foreign exchange gain, net (15) Other non-operatin
Slide 31: Reconciliations of Non-GAAP Measures - YTD Q2'24 (EPS)
For the six months ended June 30, 2024 Pre-Tax Impact Tax Impact (1)(2) Net Impact Reported EPS attributable to IGT PLC - diluted 0.61 Adjustments: Foreign exchange gain, net (0.10) 0.03 (0.13) Currency conversion impacts of hyper-inflationary economies 0.02 — 0.02 Amortization - purchase accounting
Slide 32: Reconciliations of Non-GAAP Measures - YTD Q2'23
Reconciliations of Non-GAAP Measures - YTD Q2'23 $ in millions; all amounts presented reflect continuing operations (1) Includes amortization of upfront license fees For the six months ended June 30, 2023 Business Global Gaming & Segments Corporate Total Lottery Digital Total and Other IGT PLC Net i
Slide 33: Reconciliations of Non-GAAP Measures - YTD Q2'23 (EPS)
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 0.12 (0.02) 0.14 Currency conversion impacts of hyper-inflationary economies 0.04 — 0.04 Amortization - purchase accounting 0
International Game Technology — Q2 2024 Earnings Presentation on 6ix