Fourth Quarter 2024 Financial Performance achieves outlook:
Revenue of $651 million propelled by strong growth in instant ticket and draw game sales across geographies
Income from continuing operations of $116 million with associated margin of 17.9%
Generated Adjusted EBITDA of $290 million and an Adjusted EBITDA margin of 44.5%, reflecting strong performance of core, recurring business and increased investment in growth initiatives
Full Year 2024 Financial Performance achieves outlook:
Revenue of $2.5 billion driven by instant ticket and draw game sales in the U.S. & Canada and Italy
Income from continuing operations of $271 million with associated margin of 10.8%
Delivered Adjusted EBITDA of $1.17 billion; Adjusted EBITDA margin of 46.6% reflects compelling margin structure associated with pure play lottery business
Consolidated cash from operations of $1.03 billion including $689 million from continuing operations; strong consolidated free cash flow of $659 million, with over 80% generated by continuing operations
Strong core, recurring business provides solid foundation for 2025
LONDON (February 25, 2025) – International Game Technology PLC ("IGT") (NYSE:IGT) today reported financial results for the fourth quarter and full year ended December 31, 2024. Today, at 8:00 a.m. EST, management will host a conference call and webcast to present the results; access details are provided below.
"2024 was a year of momentous transformation with the conclusion of our strategic review and the announced sale of our Gaming & Digital business for $4.05 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."
"We delivered solid financial results in 2024, including robust cash flow generation to invest in the business, reduce debt, and return capital to shareholders," said Max Chiara, CFO of IGT. "Our core, recurring business has a compelling low-to-mid single digit growth profile and provides a solid foundation as we head into our next CapEx cycle aimed at securing our portfolio and extending its duration to more than eight years."
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SOURCE International Game Technology PLC