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Mar 31
Brightstar Lottery Q1 2025 Earnings Report
IGT reported decreased revenue and income for Q1 2025 amid lower jackpot activity and FX headwinds.
Key Takeaways
International Game Technology posted $583M in revenue and $8M in net income for Q1 2025. Profitability was impacted by FX losses and lower U.S. jackpot activity, but the lottery segment showed resilience with high margins.
Revenue declined 12% YoY to $583M, driven by lower U.S. multi-state jackpot activity.
Net income from continuing operations fell to $8M, down from $116M in Q1 2024.
Adjusted EBITDA margin remained strong at 42.8%.
Cash and liquidity positions remained solid, with $631M in cash and $2.2B in total liquidity.
Brightstar Lottery
Brightstar Lottery
Brightstar Lottery Revenue by Segment
Brightstar Lottery Revenue by Geographic Location
Revenue by Segment
Instant & Draw Revenue
CapyFin.comMulti-State Jackpot Revenue
CapyFin.comOther Services Revenue
CapyFin.comProduct Sales Revenue
CapyFin.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comItaly Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
IGT expects full-year revenue and Adjusted EBITDA to be at the lower end of prior guidance due to weaker jackpot activity and macroeconomic headwinds.
Positive Outlook
- Strong cash conversion and financial position.
- High Adjusted EBITDA margin reflects efficient operations.
- Instant ticket printing volume increased.
- Italy and Rest of World segments showed resilience.
- Dividend of $0.20 per share declared.
Challenges Ahead
- Significant drop in multi-state jackpot revenue.
- FX losses negatively impacted bottom line.
- Adjusted EBITDA fell 24% YoY.
- EPS declined from $0.35 to $(0.11).
- Guidance revised to the low end of prior range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income