Intl Game Tech Expects FY25 Revenue Of $2.55B-$2.65B Vs $2.55B Est

Outlook for Fiscal 2025 and Guidance Policy

Strong, core recurring business provides solid foundation for 2025:

• Revenue of $2.55 - $2.65 billion, up low-mid single digits
  • Global same-store sales up low-single-digits
  • Higher product sales, driven by sustainable instant ticket services growth
  • H1'25 impacted by an estimated $40 - $50 million from lower U.S. Multi-state Jackpot activity and associated LMA incentives, accounting for lower expected revenue in Q1'25 versus Q1'24
• Adjusted EBITDA of $1.10 - $1.15 billion
  • Flow-through of lower U.S. Multi-state Jackpot activity and associated LMA incentives referenced above
  • $25 million of increased investment in the business (contract rebids and extensions, cloud-based solutions, network optimization), which are mostly concentrated in H1'25 and are expected to deliver future capital expenditure efficiencies
  • Q1'25 Adjusted EBITDA down approximately $70 million, primarily on lower U.S. Multi-state Jackpot activity and associated LMA incentives, in addition to unfavorable product mix and investment in the business; in the balance of the year, Adjusted EBITDA is aligned with the prior year, including growth in H2'25
• Net cash used in operating activities of approximately $300 million
  • Includes €800 million (approximately $850 million) related to first two installments of Italy Lotto upfront license fee (reflects 100% consolidation of Italy joint venture; minority partner contributions representing their pro rata share are recorded in cash flows from financing activities)
  • Ex-Lotto license fee and compared to FY'24, cash flow performance impacted approximately one-third by the lower forecasted Adjusted EBITDA and two-thirds by the timing of certain working capital items
• Capital expenditures of approximately $450 million; reflects increased investments related to contract wins, extensions, and upcoming bids