International Game Technology PLC Reports Second Quarter 2021 Results

London August 3, 2021 PR NEWSWIRE = Kyodo News JBN] International Game Technology PLC (IGT) (NYSE: IGT) announced the second quarter of the fiscal year ending June 30, 2021. The management will hold a telephone conference and webcast at 8:00 am today (Eastern the United States), and announce the financial results.

"IGT's highest executive officer (CEO) said," The great performance in the second quarter supports the execution of our portfolio. With the significant growth of the digital and gaming business, the sales and profits have increased significantly, and after adjustment, EBITDA has been the best in the first half of the year, and the major financial indicators are the best. We expect that this year will exceed the 2019 level. "

"IGT's highest financial officer (CFO), CFO, said," The recorded free cash flow from the continuous business and the recent income of assets have contributed to the significant reduction in debt in the first half. "Our debt levels have improved significantly, reaching the level before the pandemic much faster than expected, and the overall financial situation with our credit profile has improved.

2021 Review of consolidated achievements in the second quarter

All amounts of continuous business

(Unit: $ 1 million)

GAA P-based financial index

Total income

Operating income (loss)

Sales support cost

Total operating income (loss)

Cash flow by sales activities

Cash and cash equivalent

No n-GAAP Financial Index:

Sales support cost

Total EBITDA after adjustment

Free cash flow

(1) Including amortization of purchased prices

(2) Adjusted so that past bonds are reflected only on continuous businesses.

Note: At the end of this press release, the adjustable table with the no n-GAA P-based financial indicators and the most directly comparable GAA P-based financial indicators is posted.

• Global Lotto is led by the demand for strong players and achieved the second highest profit level in segment history.
• Achieved nearly tw o-thirds of the Optima saving goal, more than $ 200 million by 2021.
• Under the gentle recovery trend in the global gaming business, sales of the surplus conversion digital gaming business increased by 41%in the quarterly
• The introduction of IGT's best cashless solutions in Agua Carient Casino and Washington Lottary
• Resale of B2C gambling business in Italy completed, with untainted proceeds selectively used to fund full redemption of 4, 750% senior secured notes due February 2023 via make-whole call
• Announces 25th anniversary of Wheel of Fortune® slots, deploys historic Wheel of Fortune®-themed horse racing game at Churchill Downs in Kentucky
• Signed 7-year systems contract with Maryland Lottery to deploy 11, 500 video lottery terminals and motorized table games in six casinos.
• Expands PeakSlant49™ office availability and offers high-quality premium video content through acquisition model.
• The company was recently named Casino Supplier of the Year at the Global Gaming Awards 2021 in London.

Consolidated profits reach $1 billion, up 74% year over year

• Lottery sales increase 58% year over year to $725 million.
• Mass games revenues reach $316 million, up 126% year over year and 19% quarter over quarter.

Operating profit of $244 million (prior year: operating loss of $72 million)

• High level of profit due to increased sales at one Mass Lottery store
• Mixed profit from high margin lottery sales in Italy
• Benefit from strict cost management and OPtiMa structural cost reduction program

Net interest expense of $91 million compared to $96 million last year due to lower average borrowing balances and lower interest rates

Corporate tax expense of $32 million compared to $3 million last year, reflecting significantly higher operating margins

Net loss of $39 million compared to a net loss of $268 million last year due to a significant increase in bailouts.

Adjusted EBITDA of $442 million compared to $164 million last year.

Net debt was $6. 3 billion, at December 31, 2020 Debt leverage is now at 4. 3x (6. 4x as of December 31, 2020), down by more than $1 billion from $7. 3 billion as of December 31, 2020.

Exchange and liquidity update

• Total liquidity as of June 30, 2021 is $1. 9 billion, unrestricted currency funds are $639 million, and additional financing is $1. 3 billion
• Net exchange proceeds from the sale of the Italian gambling business of $748 million will be used to fund the redemption of Eurobonds due 2023 (4, 750%).
• In July, the company made changes to extend the repayment terms of its emergency loans, effectively increasing liquidity, extending debt repayment terms and reducing interest costs.

• Income from continuing operations for the second half of 2021 was $2 billion, and operating income was $300 million.
  • Global lotteries return to more normal growth rates as consumption levels rise, third quarter same-store sales doubled compared to 2019
  • Slow recovery in mass gambling industry continues
  • Lottery growth trends normalize, operating revenue, operating margins and exchange rates decline
  • $175 million investments accelerate sequentially to support growth, severe full-year costs below 2019 levels
  • Measuring wear and tear

  Conference call and webcast

  3 August 3, 2021 8:00 AM JST

  The live webcast will be available in the News, Actions and Presentations section of IGT's investor relations website. A replay will be available on the website following the live broadcast.

  • US/Canada toll free: +1 866 968-0344
  • Toll free outside US/Canada: +1 873 415-0264
  • Conference ID/Proof Code: 8589154
  • A replay of the conference call will be available within one week.
    • US/Canada Phone: +1 800 585-8367
    • Outside US/Canada Phone: +1 416 621-4642
    • ID/Proof Code: 8589154

    Note: Some tables in this press release contain incorrect totals due to rounding.

    Comparability of Results

    All characteristics set in the provided press release are prepared in cooperation with USPU if there are no other provisions. The characteristics after adjustment are taken into account, taking into account the acquisition, impairment cost, restructuring cost, exchange of money, some lump sum payments, and comments in the main transactions. More comparable adjustments with GAAP US indicators are given to the provided press release table. The unified monetary units in 2021 are calculated by the introduction of monetary units of the same course, which were valid in the joint formation stage in 2020. The instructor uses no n-GAA P-based monetary features for recognition and comparison of operating results for different reporting periods, internal budget formation and predictions, and the evaluation of company economic activities. The leadership, which has nothing to do with GAAP, reflects the current business of the company, enables important comparison between time, and decomposes the trend of business formation. I think I can do it. However, these characteristics that reflect the configuration in unusual monetary units and the monetary characteristics unrelated to OPBU should be considered and should not be considered as a kand.

    About IGTIGT (NYSE: IGT) -A gaming worl d-famous company. We offer entertainment and ful l-fledged game skills in all channels and adjustable sections, from slots, lotteries to sports and digital technology. By applying a large amount of content, a large amount of investment in technological innovation, the knowledge of players, operating skills, and advanced technology, our conclusions provide excellent gaming skills that attract and start spectators. 。 We have the existence and business of the established districts of more than 100 states and regulatory authorities around the world, and comply with the highest stereotypes of services, honesty and responsibility. IGT is operated by 11. 000 employees. To get additional information, all characteristics set in the provided press release are prepared in cooperation with USPU if there is no other provision. The characteristics after adjustment are taken into account, taking into account the acquisition, impairment cost, restructuring cost, exchange of money, some lump sum payments, and comments in the main transactions. More comparable adjustments with GAAP US indicators are given to the provided press release table. The unified monetary units in 2021 are calculated by the introduction of monetary units of the same course, which were valid in the joint formation stage in 2020. The instructor uses no n-GAA P-based monetary features for recognition and comparison of operating results for different reporting periods, internal budget formation and predictions, and the evaluation of company economic activities. The leadership, which has nothing to do with GAAP, reflects the current business of the company, enables important comparison between time, and decomposes the trend of business formation. I think I can do it. However, these characteristics that reflect the configuration in unusual monetary units and the monetary characteristics unrelated to OPBU should be considered and should not be considered as a kand.

    universe

    About IGT

    IGT (NYSE: IGT) -A gaming worl d-famous company. We offer entertainment and ful l-fledged game skills in all channels and adjustable sections, from slots, lotteries to sports and digital technology. By applying a large amount of content, a large amount of investment in technological innovation, the knowledge of players, operating skills, and advanced technology, our conclusions provide excellent gaming skills that attract and start spectators. 。 We have the existence and business of the established districts of more than 100 states and regulatory authorities around the world, and comply with the highest stereotypes of services, honesty and responsibility. IGT is operated by 11. 000 employees. To get additional information, all characteristics set in the provided press release are prepared in cooperation with the USPU if there are no other provisions. The characteristics after adjustment are taken into account, taking into account the acquisition, impairment cost, restructuring cost, exchange of money, some lump sum payments, and comments in the main transactions. More comparable adjustments with GAAP US indicators are given to the provided press release table. The unified monetary units in 2021 are calculated by the introduction of monetary units of the same course, which were valid in the joint formation stage in 2020. The instructor uses no n-GAA P-based monetary features for recognition and comparison of operating results for different reporting periods, internal budget formation and predictions, and the evaluation of company economic activities. The leadership, which has nothing to do with GAAP, reflects the current business of the company, enables important comparison between time, and decomposes the trend of business formation. I think I can do it. However, these characteristics that reflect the configuration in unusual monetary units and the monetary characteristics unrelated to OPBU should be considered and should not be considered as a kand.

    universe

    About IGT

    IGT (NYSE: IGT) -A gaming worl d-famous company. We offer entertainment and ful l-fledged game skills in all channels and adjustable sections, from slots, lotteries to sports and digital technology. By applying a large amount of content, a large amount of investment in technological innovation, the knowledge of players, operating skills, and advanced technology, our conclusions provide excellent gaming skills that attract and start spectators. 。 We have the existence and business of the established districts of more than 100 states and regulatory authorities around the world, and comply with the highest stereotypes of services, honesty and responsibility. IGT is operated by 11. 000 employees. To get additional information, website www.

    This press release may include the prediction descriptions (according to the definition of the 1995 US Securities Litigation Reform Law) and other inquiries about the International Game Technology PLC (hereinafter referred to as the Company). there is. These descriptions include future intentions, trends, dividends, business results, or financial status, based on the current beliefs of the Company's management, and the usable speculation and information available in the available solutions. There are all possibilities, such as discussions, plans, and expectations. To apply prediction settings, "goals", "expectations", "conviction", "plan", "may", "should", "should", "continuation", "expectation", "prediction" , "Future", "Leadership", "intensive", "maybe", "maybe", "maybe", "Possibility", "Prediction", or as a negative or other option These texts may be accompanied. These predictions are related only to the date they have created and are affected by various risks and uncertainty. If certain risks related to these risks and uncertainty are revealed, or if each of the databases is incorrect, the actual prediction will be affected by such risks and uncertainty. < SPAN> This press release includes prediction descriptions (according to the definition of the 1995 US Securities Litigation Litigation Reform Law) and other inquiries related to the International Game Technology PLC (hereinafter referred to as "the Company") and other inquiries. There is a possibility. These descriptions include future intentions, trends, dividends, business results, or financial status, based on the current beliefs of the Company's management, and the usable speculation and information available in the available solutions. There are all possibilities, such as discussions, plans, and expectations. To apply prediction settings, "goals", "expectations", "conviction", "plan", "may", "should", "should", "continuation", "expectation", "prediction" , "Future", "Leadership", "intensive", "maybe", "maybe", "maybe", "Possibility", "Prediction", or as a negative or other option These texts may be accompanied. These predictions are related only to the date they have created and are affected by various risks and uncertainty. If certain risks related to these risks and uncertainty are revealed, or if each of the databases is incorrect, the actual prediction will be affected by such risks and uncertainty. This press release may include the prediction descriptions (according to the definition of the 1995 US Securities Litigation Reform Law) and other inquiries about the International Game Technology PLC (hereinafter referred to as the Company). there is. These descriptions include future intentions, trends, dividends, business results, or financial status, based on the current beliefs of the Company's management, and the usable speculation and information available in the available solutions. There are all possibilities, such as discussions, plans, and expectations. To apply prediction settings, "goals", "expectations", "conviction", "plan", "may", "should", "should", "continuation", "expectation", "prediction" , "Future", "Leadership", "intensive", "maybe", "maybe", "maybe", "Possibility", "Prediction", or as a negative or other option These texts may be accompanied. These predictions are related only to the date they have created and are affected by various risks and uncertainty. If certain risks related to these risks and uncertainty are revealed, or if each of the databases is incorrect, the actual prediction will be affected by such risks and uncertainty.

    In addition, the financial characteristics of International Game Technology PLC in the current or future economic fiscal year depends on the historical background, but always match the historic financial characteristics of the International Game Technology PLC, or that matches it. It is not interpreted that it means exceeding. All of these precautions in this press release are limited by these precautions. Whether or not in writing, the International Game Technology PLC or all the subsequent descriptions of the future outlook, which belong to the proxy, are strictly limited to such future outlook.

    No n-GAA P-based financial characteristics These guidelines are supplemented with specific no n-GAAP economic information to present GAA P-specific economic information. In this guideline, the presented no n-GAAP information provides the trader with information that is backed by the trader, but should be considered alone, or as a substitute for the appropriate GAAP specification. I don't think it is. Furthermore, there is a possibility that other companies have defined the characteristics of no n-GAAP in advance, and the usefulness in comparison with other companies is limited. The company has evaluated traders as a whole of the company's financial statements and published reports as a whole, and advises not to rely on a single economic indicator. < SPAN> In addition to the historical background, the financial characteristics of International Game Technology PLC in the current or future economic fiscal year, which is necessarily the historic financial characteristics of the International Game Technology PLC. Or it is not interpreted that it means exceeding it. All of these precautions in this press release are limited by these precautions. Whether or not in writing, the International Game Technology PLC or all the subsequent descriptions of the future outlook, which belong to the proxy, are strictly limited to such future outlook.

    No n-GAA P-based financial characteristics These guidelines are supplemented with specific no n-GAAP economic information to present GAA P-specific economic information. In this guideline, the presented no n-GAAP information provides the trader with information that is backed by the trader, but should be considered alone, or as a substitute for the appropriate GAAP specification. I don't think it is. Furthermore, there is a possibility that other companies have defined the characteristics of no n-GAAP in advance, and the usefulness in comparison with other companies is limited. The company has evaluated traders as a whole of the company's financial statements and published reports as a whole, and advises not to rely on a single economic indicator.After adjustment, eBitDa has corporate tax, interest paid, foreign exchange loss, other no n-operating expenses, depreciation expenses and depreciation expenses, loss losses, depreciation expenses (supply income, acquisition costs, no n-operating expenses), structural reform costs, sales, sales. It represents a recruitment allowance, a lawsuit fee (revenue), and a net income (loss) (GAAP indicator) from the continuous business before deducting some other extraordinary items. Other normal items are not frequently generated, and does not reflect continuous sales activities. Regarding business segments, EBITDA will depreciate the operating income (loss) of the section, depreciation expenses, amortization expenses (proposal sale income, acquisition and no n-purchase accounting), restructuring expenses, sales promotion allowance, lawsuit expenses. It is deducted (revenue) and other (all other no n-normal notes). After adjustment, the profit (loss) from the eBitDa-non-continuous project is the interest paid, depreciation, depreciation cost, and gain on non-continuous business. After adjustment, EBITDA-complex is the addition of EBITDA-non-continuous business after adjustment after adjustment. This guideline believes that the no n-GAA P-based feature is useful for comparing our continuous business results for each period.

    

    Elim Poon - Journalist, Creative Writer

    Last modified: 27.08.2024

    During the three months ended March 31, , the Company used $42 million of net cash for investing activities, a decrease of $27 million from the prior. LATEST INFORMATIONS&P Global Reports Second Quarter Results. News Releases. Sign Up For Alerts. All Years, , , , , , , , , International Game Technology had revenue of $B in the quarter ending June 30, , a decrease of %. This brings the company's revenue in the last.