International Game Technology PLC

Latest Results (09.01.2026):

International Game Technology PLC — Fourth Quarter 2024: IGT reported Q4 2024 revenue of $651 million and income from continuing operations of $116 million (17.9% margin). Adjusted EBITDA for the quarter was $290 million (44.5% margin). The company also released full‑year 2024 results (revenue $2.512 billion; Adjusted EBITDA $1.17 billion) and reiterated strategic actions including the announced $4.05 billion sale of its Gaming & Digital business and guidance for fiscal 2025.

Top-line and quarter trends

Q4 revenue was $651M, down 4% year‑over‑year (2% decline on a constant‑currency basis). Product sales fell sharply (Q4 product sales $60M, down 32%), while instant ticket and draw game same‑store sales were strong (Italy +7.0% in Q4; normalized +3.9%). U.S. multi‑state jackpot revenue was noticeably lower vs. the prior year.

Profitability metrics

Q4 operating income was $179M and income from continuing operations $116M (margin 17.9%). Adjusted EBITDA was $290M with a 44.5% margin, reflecting high recurring business profitability partly offset by increased investment and unfavorable product mix vs. the prior year.

Per‑share and non‑GAAP measures

Diluted GAAP EPS from continuing operations was $0.40 in Q4 (vs. $0.19 prior year). Adjusted diluted EPS from continuing operations was $0.22 (down vs. prior year). Full‑year adjusted EPS was $0.67.

Cash generation, free cash flow and balance sheet

Consolidated cash from operations for FY‑2024 was $1.03B (continuing operations $689M). FY free cash flow was $540M. Net debt at Dec 31, 2024 was $4.78B (down from $5.16B a year earlier); total liquidity was about $1.9B with $584M of unrestricted cash.

Major corporate transaction

IGT announced the sale of its Gaming & Digital business to Apollo affiliates for $4.05B cash (expected to close by end of Q3 2025), a central element of its 2024 strategic review and balance‑sheet plans.

Contracts, commercial momentum

IGT highlighted multiple contract wins/extensions in 2024 (e.g., seven‑year Colorado facilities management, 10‑year Luxembourg Lottery & iLottery, extensions in Tennessee, North Carolina, Lithuania, Germany, and printing/service awards in Portugal, Spain and France).

Outlook for fiscal 2025

Guidance: revenue $2.55–$2.65B (low‑ to mid‑single‑digit growth), Adjusted EBITDA $1.10–$1.15B. Management expects Q1'25 headwinds (~$40–$50M lower revenue and ~‑$70M Adjusted EBITDA impact) from lower U.S. multi‑state jackpot activity and continued investment (~$25M incremental spend) and plans ~ $450M CapEx for 2025.

Capital return

The Board declared a quarterly cash dividend of $0.20 per share (record date March 11, 2025; payment March 25, 2025).