Financial Performance - FY'24 - Revenue reached $2.512 billion, a decrease of 1% compared to $2.529 billion in the previous year[29] - Adjusted EBITDA was $1.170 billion, down 4% from $1.214 billion in the previous year[29] - Income from continuing operations was approximately $270 million, resulting in a margin of 10.8%[17] - Free cash flow from continuing operations was approximately $540 million[17] - Pro forma net debt leverage was 2.4x[17] Q4'24 Results - Revenue was $651 million, a 4% decrease compared to $681 million in the same quarter of the previous year[29] - Adjusted EBITDA was $290 million, an 8% decrease compared to $316 million in the same quarter of the previous year[29] - Diluted EPS was $0.40, a 112% increase compared to $0.19 in the same quarter of the previous year[29] Outlook for Fiscal Year 2025 - Revenue is projected to be in the range of $2.55 - $2.65 billion, representing low-to-mid single-digit growth[14] - Adjusted EBITDA is expected to be in the range of $1.10 - $1.15 billion[14] - Capital expenditures are estimated to be approximately $450 million[14] Strategic Initiatives - The company announced the sale of its Gaming & Digital business for $4.05 billion in cash[17] - The company expects to use a significant portion of the $4 billion+ cash infusion for debt reduction and returning capital to shareholders[26] - OPtiMa 3.0 is expected to deliver $40 million in annual savings over the next two years[40]

Financial Performance - Revenue for FY'24 was $2.5 billion, driven by sustained growth in instant ticket and draw game sales, with an income from continuing operations of approximately $270 million, representing a 10.8% margin[9]. - Adjusted EBITDA for FY'24 was $1.2 billion, with a margin of 46.6%, while Q4'24 Adjusted EBITDA was $290 million, down 8% year-over-year[18][9]. - Q4'24 total revenue decreased by 4% year-over-year to $1.18 billion, while FY'24 total revenue was $2.512 billion, a slight decline from $2.529 billion in FY'23[55]. - Instant ticket and draw wager-based revenue for Q4'24 was $511 million, a 2% increase from Q4'23, while U.S. multi-state jackpot revenue fell by 21% to $26 million[55]. - Operating income for Q4'24 was $179 million, down 9% from $197 million in Q4'23, with adjusted EBITDA at $290 million, an 8% decrease year-over-year[59]. - Net income from continuing operations attributable to IGT PLC for Q4'24 was $217 million, significantly higher than $27 million in Q4'23[59]. - For Q4 2024, income from continuing operations increased to $116 million, up from $73 million in Q4 2023, representing a 58.9% year-over-year growth[61]. - For the full year 2024, reported EPS from continuing operations attributable to IGT PLC was $0.57, an increase from $0.67 in the previous year[63]. Cash Flow and Expenditures - The company generated over $1 billion in consolidated cash from operations and approximately $660 million in consolidated free cash flow, with 80% coming from continuing operations[9]. - Free cash flow for Q4'24 was $154 million, compared to $253 million in Q4'23, indicating a decrease in cash generation[60]. - Cash from operations is estimated to be approximately ($300 million), impacted by an upfront license fee of €800 million (~$850 million) related to the Italy Lotto[32]. - Capital expenditures for FY'24 were approximately $450 million, reflecting increased investments related to large contract wins and extensions[6]. - The company plans to increase capital expenditures to approximately $450 million, reflecting investments in upcoming bids and joint ventures[32]. - Capital expenditures for the year 2024 totaled $149 million, slightly up from $143 million in 2023[61]. Debt and Financial Position - Pro forma net debt leverage was calculated at 2.4x, with net debt as of December being $2.78 billion[9][29]. - The company announced the sale of its Gaming & Digital business for $4.05 billion in cash, with a significant portion expected to be used for debt reduction and returned to shareholders[9][16]. Future Outlook - Total revenue for FY'25 is projected to be between $2.55 billion and $2.65 billion, reflecting a low-to-mid single-digit growth[32]. - Adjusted EBITDA for FY'25 is expected to be in the range of $1.10 billion to $1.15 billion, with a $25 million increase in business investment[32]. - The company expects FY'25 and FY'26 capital expenditures to be in the range of $400 million to $450 million, including important investments in California, Texas, New York, and Italy[30]. - Future growth strategies include winning important contracts in Italy and Texas, and investing in content and technologies to fuel growth[16]. Market Performance - Gross wagers in the U.S. and Canada decreased by 0.7% in Q4'24, while instant and draw game wagers increased by 2.2%[11]. - Global same-store sales growth for instant ticket and draw games was 3.9% in Q4'24, while U.S. multi-state jackpots saw a decline of 20.2%[57]. Cost Management - The company is focused on structural cost savings, with the OPtiMa 3.0 initiative expected to deliver $40 million in annual savings over the next two years[30]. Taxation - The reported effective tax rate for Q4 2024 was 43.4%, while the adjusted effective tax rate was 42.1%[62]. - The effective tax rate for the full year 2024 was 48.0%, with an adjusted effective tax rate of 44.3%[63]. Other Financial Metrics - The company reported a net foreign exchange loss of $75 million for Q4 2024, compared to a gain of $52 million in Q4 2023[61]. - Stock-based compensation increased to $7 million in Q4 2024 from $5 million in Q4 2023, marking a 40% increase[61]. - The average diluted shares outstanding for adjusted EPS calculations was 204 million shares for Q4 2024[62].

Core Insights - IGT reported solid financial results for 2024, achieving its outlook with a focus on long-term growth and shareholder returns following the strategic review and sale of its Gaming & Digital business for $4.05 billion [2][4][8] Financial Performance Overview - Fourth Quarter 2024: - Revenue of $651 million, down 4% from $681 million in Q4 2023, attributed to prior year’s record product sales [3][4] - Operating income decreased to $179 million from $197 million, with a margin of 27.4% [3][4] - Income from continuing operations rose to $116 million, a 60% increase year-over-year, with a margin of 17.9% [3][4] - Adjusted EBITDA of $290 million, down 8% from $316 million, with a margin of 44.5% [3][4][7] - Full Year 2024: - Total revenue of $2.5 billion, consistent with the previous year [8] - Operating income of $686 million, down from $752 million, with a margin of 27.3% [8] - Income from continuing operations increased to $271 million, with a margin of 10.8% [8] - Adjusted EBITDA of $1.17 billion, down 4% from $1.21 billion, with a margin of 46.6% [8] Cash Flow and Liquidity - Net cash provided by operating activities was $689 million from continuing operations, down 25% from $916 million in the prior year [3][8] - Total liquidity stood at $1.9 billion as of December 31, 2024, including $584 million in unrestricted cash [9] Strategic Developments - The company announced the sale of its Gaming & Digital business, expected to close by Q3 2025, which is anticipated to enhance its focus on lottery solutions and innovative game content [2][6] - IGT secured several long-term contracts, including a seven-year facilities management contract with Colorado Lottery and extensions with various state lotteries [6] Market Performance - Strong growth in instant ticket and draw game sales was noted, particularly in the U.S. and Canada, contributing to overall revenue [5][6] - Same-store sales growth in Italy was reported at 7.0%, while U.S. multi-state jackpots saw a decline of 20.2% [6][28] Future Outlook - For 2025, IGT expects revenue between $2.55 billion and $2.65 billion, with low to mid-single-digit growth anticipated [11][23] - Adjusted EBITDA is projected to be between $1.10 billion and $1.15 billion, reflecting ongoing investments in business initiatives [11][23]

Core Insights - International Game Technology PLC (IGT) achieved an ESG Score of 4.3 out of 5.0 from FTSE Russell, placing it in the 97th percentile within the Travel and Leisure sector, an improvement from its previous score of 4.2 in 2023 [1][2] Group 1: ESG Performance - IGT's improved ESG score reflects its commitment to enhancing sustainability practices and leadership through its global Sustainable Play program [2] - The ESG Scores from FTSE Russell are based on over 300 individual indicator assessments, aligning with the UN Sustainable Development Goals (SDGs) [2] Group 2: Company Overview - IGT is a global leader in gaming, providing responsible gaming experiences across various channels, including Lotteries, Gaming Machines, Sports Betting, and Digital [4] - The company has approximately 11,000 employees and maintains relationships with governments and regulators in over 100 jurisdictions worldwide [4]

Core Points - International Game Technology PLC ("IGT") announced a nine-year contract extension with the Tennessee Education Lottery ("TEL") starting from June 2027 to June 2036 [1] - IGT has been a partner of TEL since 2004, providing innovative solutions that have contributed to the growth of educational funding in Tennessee, raising over $7.5 billion [3] - The contract includes the deployment of IGT's Aurora™ central system and upgraded back-office applications, along with new terminals and communication network upgrades [2][3] Company Overview - IGT is a global leader in gaming, providing a wide range of gaming experiences across various channels, including lotteries, gaming machines, sports betting, and digital platforms [5] - The company has a strong presence in the lottery market, serving 26 of the 46 lotteries in the U.S. and eight of the world's ten largest lotteries [4] - IGT employs approximately 11,000 people and is committed to delivering high standards of service, integrity, and responsibility [5]

Core Insights - IGT has launched the Wheel of Fortune Cash Link Big Money game on the new Wheel of Fortune Trio cabinet at Graton Resort & Casino, marking its global debut [1][2] - The Wheel of Fortune slots brand is highly popular, with a strong player affinity, and the new cabinet is expected to enhance jackpot excitement [2] - IGT has a long-standing relationship with Sony Pictures Television, extending its licensing agreement to produce Wheel of Fortune games through 2034 [3] Company Overview - IGT is a global leader in gaming, providing a wide range of gaming experiences across various channels, including lotteries, gaming machines, sports betting, and digital platforms [5] - The company has approximately 11,000 employees and operates in over 100 jurisdictions worldwide, focusing on responsible gaming and high service standards [5] Product Features - The Wheel of Fortune Trio cabinet features a 76-inch mechanical wheel and three 49-inch ultra-high-definition screens, creating an immersive gaming experience [2] - The Cash Link Big Money game includes features such as a Cash Link coin collection, Cash on Reels mechanic, and a Cash Link Multiplier that can award up to 35X [2]

Core Insights - International Game Technology PLC (IGT) achieved an improved score in the 2024 S&P Corporate Sustainability Assessment (CSA) for the fifth consecutive year, indicating strong year-over-year environmental, social, and governance (ESG) performance [1][2][3] Group 1: Sustainability Performance - IGT received an overall CSA score of 62, reflecting an improvement of eight points from the previous year, and achieved a perfect score in transparency and reporting [2][3] - The company ranks in the top decile within the casinos and gaming industry, showcasing its commitment to sustainability [2][3] Group 2: Commitment to Sustainability - IGT's Sustainable Play program emphasizes the importance of valuing and protecting people, advancing responsibility, supporting communities, and fostering sustainable operations [3] - The CSA, established in collaboration with Dow Jones Indices, evaluates companies across 61 industries based on approximately 20 financially relevant sustainability criteria [3] Group 3: Company Overview - IGT is a global leader in gaming, providing responsible gaming experiences across various channels, including lotteries, gaming machines, sports betting, and digital platforms [5] - The company has a workforce of approximately 11,000 employees and maintains relationships with governments and regulators in over 100 jurisdictions worldwide [5]

LONDON, Jan. 28, 2025 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) will host a conference call and live webcast on Tuesday, February 25, 2025 to discuss fourth quarter and full year 2024 results for the period ended December 31, 2024. Conference call details:Tuesday, February 25, 20258:00 a.m. EST Conference call registration: Participants are encouraged to pre-register for the conference call by clicking here. Upon registering, participants will receive a dial-in number and unique P ...

Awards and Recognition - The company won "Lottery Product of the Year" at the International Gaming Awards for the third consecutive year, highlighting its leadership and innovation in the lottery sector [1][2][5] - The company was named "Best Diversity and Inclusion Employer" at the European Casino Awards for the fourth consecutive year, reflecting its commitment to fostering an inclusive workplace [1][2][5] Company Overview - The company is a global leader in gaming, offering lottery, gaming machines, sports betting, and digital gaming solutions across more than 100 jurisdictions [3] - It employs approximately 11,000 people and leverages innovation, player insights, and technology to deliver engaging gaming experiences [3] Product Innovation - The company's LotteryLink product revolutionizes lottery ticket sales in stores, offering universal applicability and ease-of-use for global lotteries and retailers [2] Corporate Culture and Initiatives - The company's diversity, equity, and inclusion (DEI) initiatives are integral to its market value creation, emphasizing employee support and career growth [2]

Company to deliver comprehensive retail system technology and upgraded software to drive lottery growth in ThuringiaLONDON, Jan. 22, 2025 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today announced that its subsidiary, IGT Global Services Limited, has signed a seven-year contract with the Thuringian State Lottery ("LOTTO Thüringen") in Germany to deploy its retail central system technology, Aurora™, and related software upgrades. The contract term will begin upon go-live of the new ...