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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 2025 Earnings Presentation
25 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, May 13, 2025
Slide 1: First Quarter 2025 Results
@ IGT 2025 riIRST QUARTER RESULTS Period ended March 31, 2025 @ IGT
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
Slide 3: Strategy Update
STRATEGY UPDATE
Slide 4: Q1'25 Results Confirm Sustained Player Demand for Instants & Draw Games
Q1’25 Results Confirm Sustained Player Demand for Instants & Draw Games (1) U.S. and Rest of world normalized for leap year in 2024; Italy normalized for a like number of sell-in days and Lotto draws Y/Y comparisons reflect U.S. MSJP/LMA impacts & calendar shifts Global instant ticket & draw game sa
Slide 5: Same-store Sales Q1'25 as Reported
Same-store Sales (SSS) Q1’25 as Reported U.S. Instants & Draw Multi-state Jackpots (6.9%) (1.3%) (46.1%) Italy (0.7%) Rest of World 5.2% Total Instants & Draw Multi-state Jackpots (3.8%) (0.1%) (46.1%) Game Innovation Drives Underlying Growth in Same-store Sales for Instants & Draw Games 5 *Gross wa
Slide 6: Good Progress in Key Areas of Strategic Focus
Expanding Retail Touch Points & POS Network OptimizationProduct Innovation Good Progress in Key Areas of Strategic Focus to Drive Sustainable Long-term Growth 6 FPO Increasing iLottery AdoptionGrowing Instant Ticket Services
Slide 7: Lottery Sales Historically Resilient in Times of Macroeconomic Uncertainty
Lottery Sales Historically Resilient in Times of Macroeconomic Uncertainty 7 March 2001– Sep 2001 March 2008–June 2009 March 2020– June 2020 0 20 40 60 80 100 Instant Other Draw Keno Multi-state Games Recession June 2001 - Dec 2001 June 2003 – Sep 2003 June 2008 - June 2009 Sep 2011- March 2013 Dec
Slide 8: Important Milestones on the Horizon
8 Important Milestones on the Horizon Italy Lotto Tender Process Underway Gaming & Digital Sale on Track for Q3’25 Closing Capital Allocation Strategy to be Communicated Post-Lotto Outcome & Around Gaming & Digital Closing
Slide 9: Financial Results
FINANCIAL RESULTS
Slide 10: Q1'25 Profit In Line with Expectations
Q1’25 Profit In Line with Expectations Note: EUR/USD FX daily average 1.05 in Q1’25, 1.09 in Q1’24 Amounts in millions unless otherwise noted *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details 10 Lottery busin
Slide 11: Calendar Shifts & Expected U.S. MSJP/LMA Dynamics Mask Underlying Resilient Trends
322 261 259 254 252 246 85 82 79Calendar shifts account for -$9M Q1’24 Instant Ticket & Draw U.S. Multi-state Jackpots Other Service & Upfront License Fee Amortization Product Sales Excluding FX FX Q1’25 661 595 583 Calendar Shifts & Expected U.S. MSJP/LMA Dynamics Mask Underlying Resilient Trends f
Slide 12: Profit Performance As Expected; U.S. MSJP/LMA & Product Sales Mix Impact
Profit Performance As Expected; U.S. MSJP/LMA & Product Sales Mix Impact Y/Y Comparison 116 8 Q1’24 Operating Income Interest Expense FX Tax Provision Q1’25 327 256 250 -41 U.S. MSJP & LMA Q1’24 Service Margin Product Sales Margin SG&A R&D Excluding FX FX Q1’25 17.5% 49.5% 42.8%1.4% Adjusted EBITDAI
Slide 13: Strong Cash Generation; Ample Liquidity to Fund Lotto License Fee
Strong Cash Generation; Ample Liquidity to Fund Lotto License Fee Note: cash flow results reflect continuing operations *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures in Appendix for further details $168M Cash from Operations $92M Free C
Slide 14: FY'25 Outlook
FY’25 Outlook *A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjust
Slide 15: Growth & Resilience of Player Demand for Instant Ticket & Draw Games
Growth & Resilience of Player Demand for Instant Ticket & Draw Games 15 Well-positioned for Future; Strong Financial Profile & Historically Resilient Business Model Investing in the Future to Drive Sustainable Long-term Growth Strong Balance Sheet & Ample Liquidity
Slide 16: Play Here
PLAYHEREY 9
Slide 17: Appendix
@ IGT APPENDIX
Slide 18: U.S. Multi-state Jackpots & Related LMA Contract Impacts on Sales & Profits
U.S. Multi-state Jackpots & Related LMA Contract Impacts on Sales & Profits 18 Higher incentive or penalty recognition typically in IGT’s H1 period as U.S. LMA customer fiscal YTD activity, including impact of multi- state jackpots, increases likelihood of achieving target level 1.0 1.1 1.2 1.3 1.4
Slide 19: FY'24 Revenue & Profit Profile – Continuing Operations
94% 6% Service Product Sales 49% 38% 13% U.S. & Canada Italy Rest of world 11% 27% 47% Income from continuing operations Operating income Adjusted EBITDA Revenue by Type Revenue by Geography Profit Margins FY’24 Revenue & Profit Profile – Continuing Operations 19 Wager-based Revenue by Game Type 95%
Slide 20: Q1'25 Select Performance and KPI Data
$ in millions except otherwise noted (1) Same-store sales represent the change in wagers recorded in lottery jurisdictions where IGT is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods; Global instant ticket & draw gam
Slide 21: Q1'25 Select Performance and KPI Data
Q1'25 Select Performance and KPI Data $ in millions except otherwise noted (1) Same-store revenue represents the change in same-store sales net of contract mix Same-store revenue growth (%) at constant currency (SSS growth plus impact of contract mix) (1) Q1'25 Constant Currency Change Q1'24 Constan
Slide 22: Q1'25 Summarized Income Statement
Q1'25 Summarized Income Statement All amounts from continuing operations For the three months ended March 31, Q1'25 Q1'24 Y/Y Change Service revenue 557 619 (10)% Product sales 26 42 (39)% Total revenue 583 661 (12)% Total operating expenses 445 443 —% Operating income 138 219 (37)% Interest expense
Slide 23: Q1'25 Summarized Cash Flow Statement
For the three months ended March 31, 2025 2024 Net cash provided by operating activities from continuing operations 168 65 Capital expenditures (76) (35) Free Cash Flow 92 30 Cash flow provided by discontinued operations (116) — Debt Proceeds / (Repayment), Net 202 (81) Shareholder dividends paid (4
Slide 24: Reconciliation of Non-GAAP Financial Measures
For the three months ended March 31, 2025 2024 Income from continuing operations 8 116 Provision for income taxes 48 57 Interest expense, net 46 53 Foreign exchange loss (gain), net 33 (11) Other non-operating expense, net 4 4 Operating income 138 219 Depreciation 45 41 Amortization - service revenu
Slide 25: Reconciliation of Non-GAAP Financial Measures
For the three months ended March 31, For the three months ended March 31, All amounts from continuing operations 2025 2024 Pre-Tax Impact Tax Impact (1) Net Impact Pre-Tax Impact Tax Impact (1) Net Impact Reported EPS from continuing operations attributable to IGT PLC - diluted (0.11) 0.35 Adjustmen
International Game Technology — Q1 2025 Earnings Presentation on 6ix