International Game Technology PLC Reports Second Quarter 2021 Results

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International Game Technology PLC Reports Second Quarter 2021 Results

- Revenue up 74% to over $1.0 billion, fueled by strong increases in all businesses, including 35% Global Lottery same-store sales growth

- Delivered operating income of $244 million, highlighting impressive Global Lottery operating leverage and excellent progress on structural cost savings

- Net income of $365 million comprised of $39 million loss from continuing operations and income from discontinued operations of $404 million, including gain on sale of assets

- Adjusted EBITDA increases 170% to $442 million, among the highest in Company history

- Generated $500 million in cash from continuing operations and a record-level $380 million of free cash flow during the first half of the year

- $1.0 billion net debt reduction in first half; net debt leverage improved from 6.4x to 4.3x, reaching target six months early

- Raising 2021 outlook; now expect to exceed 2019 levels for key financial metrics this year