IGT reported revenues of €2.32 billion for the full year 2024

Fourth Quarter 2024 Financial Results:

IGT reported revenue of €603 million in the fourth quarter, a significant increase driven by strong growth in instant ticket and lottery game sales across geographies. The company posted income from continuing operations of €107 million with an associated margin of 17.9%. Additionally, it generated an Adjusted EBITDA of €269 million and an Adjusted EBITDA margin of 44.5%, reflecting strong performance of its core, recurring business and increased investment in growth initiatives.

Full Year 2024 Financial Results:

For the full year, IGT achieved revenues of €2.32 billion, primarily driven by instant ticket and lottery game sales in the U.S., Canada, and Italy. The company reported income from continuing operations of €251 million with a margin of 10.8%. Adjusted EBITDA was €1.08 billion, with an Adjusted EBITDA margin of 46.6%, which highlights a compelling margin structure associated with the pure play lottery business. IGT also generated a consolidated cash flow from operations of €955 million, including €639 million from continuing operations; and a strong consolidated free cash flow of €611 million, with more than 80% generated by continuing operations.

"2024 was a year of significant transformation with the conclusion of our strategic review and the announced sale of our Gaming & Digital business for €3.75 billion in cash," said Vince Sadusky, CEO of IGT. "Our unmatched capabilities in developing world-class lottery solutions and innovative game content support several important investments to drive long-term growth and shareholder returns. We are well-positioned to continue strengthening our global lottery leadership."

During the year, IGT announced the sale of its Gaming & Digital business for €3.75 billion to funds managed by affiliates of Apollo Global Management, Inc.; the transaction is expected to close by the end of the third quarter of 2025. Additionally, IGT was awarded a seven-year facilities management contract with the Colorado Lottery and recently executed a 10-year Lottery and iLottery contract in Luxembourg. The company also secured significant lottery facilities management contract extensions, including nine years with the Tennessee Education Lottery, 10 years with the North Carolina Education Lottery, 12 years in Lithuania, and three years in Mississippi and Virginia; and was recently awarded a seven-year extension in Germany.

Highlights and Key Milestones for 2024 & Recent Developments:

IGT continues to make strides in its operational and strategic initiatives. Key highlights include:

• Strategic Sale: The announced $4.05 billion sale of the Gaming & Digital business, expected to enhance financial flexibility and focus on core growth areas.
• Contract Wins and Extensions: Successful bids and extensions in significant markets underscore the company's competitive strengths and deep industry relationships.
• Product Innovation: Continued innovation in gaming and lottery solutions that cater to changing consumer preferences and technological advancements.
• Market Expansion: Expansion into new and emerging markets, leveraging global expertise to capture growth opportunities.
• Corporate Responsibility: Commitment to sustainable and responsible gaming practices, aligning with global standards and enhancing stakeholder trust.

The management of IGT remains focused on leveraging its industry-leading technology and extensive network to deliver superior gaming experiences, drive revenue growth, and create value for shareholders. With a robust financial position and a clear strategic direction, IGT is set to navigate the future landscape of the global gaming industry with confidence.