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Dec 31, 2024
Brightstar Lottery Q4 2024 Earnings Report
IGT reported a decline in revenue but maintained strong profitability in Q4 2024.
Key Takeaways
International Game Technology PLC (IGT) reported Q4 2024 revenue of $651 million, down 4% year-over-year. The company posted an operating income of $179 million and net income from continuing operations of $116 million, reflecting a strong 17.9% margin. Adjusted EBITDA came in at $290 million, with a margin of 44.5%. Despite revenue pressures, the company delivered solid profitability and maintained a strong balance sheet.
Revenue decreased 4% year-over-year to $651 million due to tough comps from the prior year.
Operating income declined to $179 million, with an operating margin of 27.4%.
Adjusted EBITDA of $290 million, reflecting a strong margin of 44.5%.
Cash and cash equivalents increased 15% year-over-year to $584 million.
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 modest revenue growth in FY 2025, with continued investments in business expansion and digital gaming.
Positive Outlook
- Revenue expected to grow to $2.55 - $2.65 billion.
- Higher product sales anticipated due to strong instant ticket services growth.
- Global same-store sales expected to rise low-single-digits.
- Continued investment in cloud-based solutions and network optimization.
- Potential for capital expenditure efficiencies over the next cycle.
Challenges Ahead
- Lower U.S. multi-state jackpot activity expected to impact Q1 2025 revenue.
- Adjusted EBITDA expected to decline in H1 2025 due to investments.
- Q1 2025 Adjusted EBITDA projected to be down by $70 million.
- Higher upfront investment required for contract renewals.
- Increased competition in the global lottery and gaming market.
Revenue & Expenses
Visualization of income flow from segment revenue to net income