IGT - Earnings call transcript Q2 2021 | International Game Technology PLC

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Operator

Good day and thank you for standing by. Welcome to International Game Technology, Q2 '21 Earnings Call. At this time all participants are in a listen only mode. [Operator Instructions] I would now like to hand the conference over to your speaker today, James Hurley, Senior Vice President of Investor Relations. Please go ahead, sir.

James Hurley

you. Thank Chiara, all which on Sala, is Executive and you XXXX second our joining Officer. Officer, call, Financial conference hosted Max for thank IGT us quarter Chief And Chief our by Marco

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meaning During today's the be securities laws. forward-looking statements making call, federal some we within will of

a effects of our and The in Forward-looking from those our principal materially differ uncertainties including statements may and and the statements to current results forward-looking our risks differ the are SEC factors earnings from not actual guarantees latest cause number based results related those on or uncertainties, and implied the COVID-XX of our our materially in pandemic. that in could detailed expressed release expectations are filings. to

Investor During of may with we press the slides over measures, accompanying measures. comparable certain filings regarding turn these these is webcast I the And financial which GAAP including SEC, Sala. will find posted website, release, to non-GAAP reconciliations measures call now, non-GAAP with this call, of our Marco our you and will Relations this additional each disclosures measures. In our discuss on

Marco Sala

impressive ever prior growth [X:XX:XX] recorded than have Jim period. Profit over more and a revenues reporting strong quarter and was you, our stronger, in based gaming highest the drove everyone. activities performance recovery land The million hello up highlight or to increase quarterly we the a lottery Thank digital are the Outstanding that and of results year XX%. second was adjusted today portfolio. of vitality the embedding even progressive our in X.X in times among we EBITDA $XXX

cash performance, from a first year, first in quarter. returned for level natural free lottery, the which flow, In the million a improve the our to six gaming global operating $XXX reductions the half we months to addition program generated operating a positive in contributed record period. In income to Optima of cost structural leverage of

in is are good focus report and which the of employees we We further report published solution been our Our our company. this efforts the said citizenship. want well of corporate responsibility, the the and IGT industry, gaming us portfolio I value an global thank IGT resilience, unique for key The while it team and across standards Highlighted and sustainable XXth on I dedication we the the on strong and diversity annual the the the important place developing to considering first world. for in quality the firmly throughout financial a the half executing recently have of year. in the about have tangible We citizenship. time, XXXX. expectation stakeholders and being raise inclusion, excellence of This activities and at At exceed to our disclose the XXXX the value enabling expect pandemic scope dedication world and validates of achievement our in around corporate impact their this grounded we now recognized for good our the as for is citizenship levels the is believe sustainability creates metrics corporate to results, to information with improving high attributes impact. of

dimensions. along store higher or geographies level. business a is same demand Broad sales continues XX% at a fueled consistent in base Lotteries high very profile games, perform several the and channels, multi-year at growth second quarter. the drove lottery Our player to across

well US for cash Italy game loans very especially in [X:XX:XX] First, game and live with to recently content, on in add the of have Italy continuous is in play five, gate. the as [ph] popular drove games, Such successful. [X:XX:XX] innovation performing been franchises cash The double out

in deploy self technology in soon our extension. service execution, the purchasing, cash increasing will sales convenience a and player less third multiyear cashless lottery in penetration these logistics. of lane retail game the generation such development service leader solutions The little especially The on options a next games of optimization recent including will I around And by model self and as improve of and player a distribution as the state lottery, through improve have of portfolios Second, I lottery, a contract acceptance part later. expand Washington acceptance. experienced

store applies to we year, XXXX. alpha, the expect last to of digits As historical structure at upper double margin proven with and has consumption. outlook This mid and the digits highly resilient we up half look macro is same at that second compared up be profile steady to sales for be compelling a the the is end to It to second global business of an and growth dynamics. single attractive of trends to levels low higher a

For most gaming are the global today. open segment, markets

many whereas in levels GGR recovered largely US lot is to business in Our has the jurisdictions. concentrated XXXX

[ph] streams doubling digit generating revenue Regarding over a installed double growth. service the Fortune Gong and base Cai. Top up [X:XX:XX]. stronger Outride digital strong than of performing on and replacement terminal levels stronger up quickly Wheel and more Sequentially, rebounded on prior than of priori sales. sequentially [ph] revenue new impacting several XX% than are year there units ever Dragon double games iron active more were progressive multi light a Xi include and Jing sequentially more Shen sales level and titles, Chi Fa

of funding Later credit will the our cabinet, the wallets. accomplishments. cards, And pay [X:XX:XX]. three Adoption a the year, accounts is are sale [X:XX:XX] for sustained offered in The that [X:XX:XX] high notice California now his games performing debit by investment. in proprietary as will XX service such best solution in casinos. and all to IGT of second as in the year wagering supported and demand implement expect for which half in will We both at more the for full expanding. is pipeline. of cashless wallet casino cashless via there unit resort proven be offering deals increase solution customers the return of Sales this solution bank VLT with improvement is the levels operators the we industry be Included also cashless our of taking IGT and class

innovative gaming year. progressive and the London a to excitement consistently recognized market won global services to in at casino of year. ability the balance at bring IGT products expectation and global the where awards our was Our the supports supplier XXXX casino in of of It improvement also gaming

leadership to continue our betting. position We in on gaming, and sports build lottery AI

to along the bring investing are to digital compelling many most games dimensions We market.

Michigan developing base a Cash games. are a performing quickly deep digitally also and and [ph] native in central portfolio, in as we Jersey become the land we markets new if In addition to game our soon. New leveraging eruption is European top launch example proven our in recent

in deploy as Wheel second iGaming third ecosystem. over and IGT for our We Distributing are a games of opportunity Later expect beginning with to game this ways. own we and ilottery content will third access enhancing value be features the Fortune that we also their in party quarter, did our titles the we year. contents provides dozen to new of Georgia. generation innovative next platform, the platform half These the develop share, using new creating incremental party mega another distributing market arrangements enable of partnerships IGT provide partners to

solution is Notably, edge first We ilottery greatly of for this competitiveness. live cloud the game will go enabling solution that leading enhance it costs. WLA faster expect content while our customers reducing based delivery to

like that clip. continue features. expand reach play XX It [X:XX:XX] visuals have our VIP US gold We is feature games triple are and a generating fast books XX enhanced are and [X:XX:XX]. that very across also successful bonus The in Eastern of XX our Eastern time currently powering and deployment expanding games the Multi audio portfolio platinum sports been sports at for all are of play platform new states. games customers to grand price recent Italy. approximately

One in execution year. the edition sportsbook We Nevada mobile reduce same and strong alike positive as of the attractive player statewide profile. Las more global our These debt, gaming with long as overall first betting our digital tailwinds retail that improving product a development disciplined supported a trends, demand term by growing half. lottery we financial recovery resort these its up. Thanks and established the that to and [X:XX:XX] is announced and businesses, gaming innovative the launches presence leverage delivered betting well significantly cost At robust continue. our expect earlier this control. we fast recent awards the With and Vegas trends the time, condition capital industry to we

remain initiatives commitment growth in the already our made. on grounded progress have always, important building sustainability, to our we As

Max. Now, I'll turn call the to over

Max Chiara

presentation this Italy business last Like in primarily and of operations you, May. be call, due sale in continuing closed I Marco everyone. BXC speaking will to Thank to our hello which Gaming the to

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XX. number Slide next the On

results metrics. across all key You can that see were impressive financial our

two excellence of simplification of of over second savings expect product driven The the from sections. $XXX can quarter cost We Revenue operating billion operational and quarter, EBITDA grew our over income $XXX the saving in by our operational end adjusted while and to we XX% the Optima see over During the half accomplished million up business the structural the we target XXX%. in XXXX pace EBITDA. recovery. benefit achieved savings by leverage efforts. margin having the of versus lottery impressive $XXX in is second And second prior improvement and more of the IGT over gaming year $X revenue, from quarter, in generated of and benefit million Like the piece of thirds million our last was XX% the the year.

Turning segment lotteries XXXX, lottery the to impressively from strong to same store year, million. demand. player highlights were the Italy and quarter $XXX doubling over prior more sales which XX, had with year. revenue rose on XX% from Global prior a sales incredible up Slide in than an performance the from XX% increased QX the XX%

outsize store as letter more margins than well discretionary of the more as Italy from is sales income in comparison of growing the revenue was closed Last to flow with to period revenue this sale that the North points were in adjusted higher through by business, categories, entirely an from lottery until benefit the And game same prior from the world store and above of doubled Operating same million. momentum quarter, restrictions $XXX year. million from rest due gaming US. an sales XX% jet second the we income $XX the of across quarter prior June. million mix with generate over per in growing incentives broad outsize to Strong year because impacted and trends pandemic based benefit were easy LMA there Some the lottery profit. to QX year, $XXX almost this we heavily year QX last recognize Italy higher halls the and America since EBITDA range. of wager, at the normal productivity In XX% with in continued in well

benefits not our store have of an quarter, those translated growth over margins this same While sales XX%. into EBITDA we incremental did strong

unit from versus yields productivity install Currently, with revenue service higher revenue XX, base US driven Turning from more install the global higher Slide stable, was relatively service be on We and prior terminal than over casino of our machines. continue is were XX% the to pandemic. higher active recurring an shipments. growing in revenue than growth improvement year revenue Sequentially, they active sequential base to pre our saw XX% on doubled global and QX. gaming segment by more

fourth to trends ‘XX embedding growth, this revenue, and replacement the roughly levels sequentially. shipments quarter, globally expect and positive strong shipments includes XXXX be in We to in service digital XX% of sold were strong growing by we by the of the demand Given VLT priority our overall back gaming units driven QX which quarter Unit casinos year. primarily customers. from doubling

flow. and improvement EBIDTA to see On of drove continue XX, you We rest discipline also profitability Zealand. our particularly a $XX gaming shipment actions in cash the Slide continuous trends expect a trend in in improve of operating line can CapEx units for higher quarter benefited The replacement Australia saw sequential to returned Adjusted results. the million on we million New is $XXX and healthy cost as and cash that conversion our optimal internationally, savings business the free year. to continue top

interest We from XXXX, back which with impact in half company net to the flow the full financial reported which half targets. allowing our bonds. net player extended roughly almost the rate million our bit to progressive delivered now We were roughly us is our this in contributed a variable months year, costs. years. our million business, first significantly half our the Italy level debt than have $XXX with costs, by and $XXX redemption amended lower sale of times beginning to the direct to quarter Since for strong of extended we XXXX actions accruing cash our X.X started Over debt in compared markets the of maturity highest over from gaming annual loan the The of the a $XX the ahead second half have capital have XXXX, with generated of interest year million €XXX and XXX% liquidity term XXXX. pre the costs Leverage these we year. weighted we piece have minimal five results. is the debt and average of XX% combined which the of through debt. of and reduced in maturities to of see year, is improved history. more free used impressive slide and to million payable proceeds And pre The is financial can pandemic interest volatility. in is our structural additional cost amount next effectively performance periods. exposure have gaming demand first in position summary, and second six manage and half to fixed, in Along us the an all In proceeds last our lottery recovering towards this, allowing initiatives business we Strong gaming date our savings recently the Italy shows maturity levels, have

we digits for We $X On And lottery the and about elevated back There at important is maintain Global our We continue million versus improve lottery expect operating to from second lottery double for XXXX, between normal of operating half, strong Slide revenue quickly the trend. favorable year. some and period. the structure. cash plan of high reduce as half versus $XXX more currently expected sales and of of more XX, to debt generate revenue and flow the the of the this both that. growth its billion is recovery. return a end to historical metrics. in lower up half QX shows date, differences the same progressive will operations higher should store than our have and on second are be to are income which of year-over-year liquidity apply balance robust growth income implies rates free levels sheet outlook in HX, to first which expected of to is the trends. growth consumption. Global to the lower cash converted HX, half. Revenue Cash be normalization gaming approximately

concentrated is while please below second It about the growth, our we ready year. questions. Operator, to levels. you prepared and additional support can year. pandemic. XXXX working current was half half first factor levels with should line increasing but restrictions. sequential open half cash heat cash in Depreciation normal in impact In I in the for the million the will know addition, expected for the the amortization a the potential full now Operator, any in concludes Thank estimate for questions? during that this remaining do of That payments to not the the more expenditures call we're source COVID-XX capital second be from remarks. return you. are And levels, of total tax of capital $XXX should expectations

Operator

the [Operator Santarelli first Instructions] Your line of of question Deutsche comes Bank. Carlo from

Your line is open.

Carlo Santarelli

Hey, everybody, morning. good

think half mind and And as a in some than rates, obviously you If lottery you guys what of half, color just which for of first year. the expectation but [ph] on the kind you've business experienced lower wouldn't are back about the XQ. provide the the growth the

stack really So what of growth in is seeing it decelerating trends you is, than you've anything what that Or my more of just kind that is different question experienced over that several that last months? the from that you're comp the has is issue current that in a been experiencing the materially XQ? there here

Marco Sala

This Marco. good is its Carlo morning Good a question.

second expectation X% said growing grow year in think the half And last year good grow the digit digit be low to of news that the to remarks, our against the the that second X% I up to our during was ‘XX. to is overall compared ‘XX. in by versus of that as is we half to single way, double

are of we player. is what stickiness some So are experiencing

this back But pandemic, from we a gaming more a consumption in after the reopening, for good the quite during this from in have entertainment betting other experienced Italy. the of is of they the the it that options a players had that business are that telling of performance, summary they lack more will goals level to they that have higher scratch overall and we lottery have what specifically benefited pre the of guess that a stating of and will forward trends, seen that personal level, they what are much than firming consumption they even get benefited games, what but at consumption. of going were appreciated pandemic. As Gaza tickets portfolio shops. we average result closure level and the [ph] from That what I an enjoyed the of of From consumer have very we higher Italy seeing secular is especially [ph],

Carlo Santarelli

super your it If your philosophy capital that's to as at you. Thank could helpful. ask what with this Great, pertains just I leverage, are point more, thoughts? latest one return

Max Chiara

Carlo speaking. Hi, this is Max

upfront of a you couple years would strategic cycle our thing as as as So to times, not cycle. ratios means have low now right leverage of know, they in goalpost the that tell next we of the up moving years coming our priorities. is towards approaching which that we accelerated out. fees of around our is, day November, are upfront now. preempt us of phase thinking we in may thinking leverage [X:XX:XX] into, I fee a The capital maintain to you And gravitating be I we the investor fruition only look front over are our obviously coming right for know, posture to again, allocation versus will four payments, higher payments in our we're years And you of want range to full

in I closer anticipated. our we able to currently get faster that And happy answer. the times we that thinking. very to But are to terms level we're day will So defer again, four more we to precise that's of where sit than investor high originally

Marco Sala

it, the complete have do not upfront year, To we next fees. a major

is of portfolio flow news for will the So our a XXXX. generating biggest contrast the major required the strong good start that are but in we capital cash

Carlo Santarelli

the on Marco, clarity Great, it. thank for thanks I that. you, appreciate

Operator

open. is question McQuarrie, line from the your line Beynon next Chad of Your comes of

Chad Beynon

of And of slot noted taking Hi, and that levels be fourth little question thanks if sales, the bit plan operators and as are just guys the in revenues, Max, items on in quarter trending? that, for machines? EBITDA? the expand to Could Thank thinking then the back of were how thinking XXXX, a in or congrats you related of how you quarter you purchase you to to plan my you. product cyclical XXXX. fourth more results. you gaming about How like terms you that's to some saw

Max Chiara

recurring 'XX, And we clarification. expect comment made service similar regard business business the left the ‘XX Yeah, which the continue the at of see end right we portion, in of were we parts of of a quarter. revenue quarter was QX trend to pre so pandemic. all to now potentially first improve to That what after to with in service seeing

side On much be need will year is to the going longer sales to see the to development. product curve probably We back levels. of ‘XX get a to full

or to We don't sales come the which operators in ‘XX, for willing late back ‘XX. innings some have really of hold and to table. But the take we're until dynamic very still us anticipate, that started the XXXX, bring early to to probably product we allow of at level see back the to

Marco Sala

the If I positive. and to is it operators of sentiment more elaborate can on becoming more

of end the in we will quarters. next prophecies terms see to Now over progression a

As recover pandemic a to next correctly, pre said, it take the will year Max button. level

GGR sentiment, making the If velocity terms operators The XX. relaxed product, not about quarter, sentiment priority accelerated in very But excited you about one in But experiencing, for are if is next definitely thing it the One below thing the to talk was XX% we expenditure and reaching month. again, on it's it America in second or more level. has of capital discuss elaborate the already is changed. cut discussing I'm them the and a the North deals. to about rather about possible news good are

a think, So a point. this I is, good

Chad Beynon

in the US? you technology technology education ilottery, still and based rolling And ilottery the your if just talk If you the could out noted overall Marco. a that legislators near the regarding they're benefits markets you with and Can better Georgia. legislative standpoint? that process you'll any this term, state update believe new the double Perfect. about in with the in understanding just that be then from cloud Thanks, comes

Marco Sala

definitely No, ilottery grow can legislation they the importance is the double will, that of there I but Arizona market Connecticut. they see it. are an And in that future. out that and can I think We there in think ilottery the just you approved authorizing foreseeable and I jurisdictions that of seeing that example. more when already have the motivation get in the other regulated, jurisdictions give will what

our these example segments I a by the the and contents, platform about And, that grow give the for these payout customers are attention. on Kentucky talent, Georgia has way, the the business. reference an calls, working they can in have lot decided for And in the are is faster. order example. among I as we in of to next drive [X:XX:XX] the increase of the regarding we a growth motivation in and importance in that, they products example, as technology For consumer said example, generation investing to of new and portfolio of talking were now ilottery already the ilottery, realize previous good because the an you jurisdictions our of jurisdictions in the getting is

space next to be other will investments and as when to in my offering that doing our with years. over are for prepared strengthen in in we the jurisdictions all will the happen content definitely opinion As that regulated well order the

Chad Beynon

[X:XX:XX] it. appreciate

Operator

Your Securities. next question line Barry Truist from of comes the Jonas of

open. Your is line

Barry Jonas

restrictions you. the cases seeing Hi, COVID from We're variant. increased Great, thank and guys. Delta

you seen or or you've comments to positive would your gave Aside from businesses? negative wondering I'm Italy, other the any if maybe expect you around impacts

Marco Sala

and Thank you, good Barry morning.

of variant Delta comes an are to we consequences to our increased it the number all experiencing the business. cases when unfortunately, Regarding

traction of gaming have as I seen because we of lottery out out benefited that rather say, resilient we fact, a the matter more overall Let's has situation gaming. got than to would resilient, been be focus on digital

are green Regarding level entering Italy that vaccinations a XX been were a gaming, closing successfully says in call we you we only that The expect expect an gaming the you showing here is goal. demonstrate we before debate or the that that that not got referring that of Europe in regarding giants have and to that tested Italy do what to the we document these have fact of you you pass is hours two alternative measures have

Regarding what only the that other for we the wear request, being United Nevada in jurisdictions in the for time measure the are is face see several that players seeing mask. in we States,

all, not back together in government's evolution. something approach but we all truly gaming the the the where lock warring have in to do So we in get do at stage business, put I that downs. see this to stage, look should at are regarding see we I the attitude, the see But not

Barry Jonas

question, and Marco relates just betting lottery that their just business. a concerning that. as sports selling follow as Got announced scientific my appreciate a few Great they're questions for IGT. up games and to

bundling off you something is the price would meaningful if selling exploring right. is two, was how across first, the company part lines? guess consider I And your any of So business

Marco Sala

we each opinion, very to a we start the portfolio gaming together. have our question. I appropriate. and is the with structure is growth organizational and enabling is portfolio years. my focus perspective, value compelling will a this solution to just full Overall it are to cash us segment a governments this see initiatives add role way, way, generate can business our profitable, new where expand give operation a creating comprise BXB portfolio Having of the will that, a this to we in in say considering evaluate of This to said serving materialize. operators consistency what a only good focused our are significant in good talking we consistent digital And did the This strong that the on lottery if are leverage to regulated and them businesses level. real as gives and is licensed [X:XX:XX] flexibility binds flexibility, think and as the next maintained I that house performance market delivering the we on portfolio creating provider. little more by that there's are bit content flavor a forward the a a possibility private in be to flow, just by our opportunities at And going call more should about And previous portfolio

going So we are think, forward. provide what where tried but our you sense the we providing I of I to and flexibility feel also

Barry Jonas

Great, thank you, Marco. Thanks, guys.

Operator

All right.

is Katz So next question David of line Jeffery, your open. comes line of from the

David Katz

wondering, Good to levels I'm upside resurgence morning, open know of getting know my the driven. on much pushed out and you're wanted everyone. you the just guiding halls? whether prospectively, or reopening predicated that it taking to based, much closed based back And on of COVID I the of to occur, drive a in suppose demand what questions. little the reopening I bit back that you is how of how to land And lottery half discussion land is were would today. If you of know about Thanks sales lottery year. that go for

Marco Sala

and can tell reopening land considering and base our included are figures. were main is of we and options outlook, Now, providing the in you up geographies the alternatives entertainment, about that now the we running. not general the in situation I gaming because alternative talking our all in of these

all year at based delta will of I was that the reopening, [X:XX:XX] influence of offer half I resurgence this the on you is the commenting regarding second variance do performance the the juncture. COVID lottery the very much, not measures for So of expect the

David Katz

of been over as to time. US base, up that particular, to my flat looking premium, Okay, to even in sort for with the maybe follow we've start perfect. base respect go and Thank the or be And you. installed up

about the Just the how are you thinking of is point point at they the and addition some term? units generate to near base kind the of expect there that flatten turn and for US reasonable some would us installed it even up or at in yield that

Marco Sala

very strong, yield and increased of XX% the progressing I think, active positively, are are things were in is truly we because the notwithstanding first and remarks, now of all, our units. they stronger the view getting number saying prepared quite above active as are

base sure quarters, next devoting for take our your we question, advantage the the products, is forward over investments. from especially most part launch, and goal MLPs Regarding year, are the next the to going of stabilize our where install mainly

Thank of pipeline not assuring, have almost the the over stable you necessarily, that in see of much. products, our stabilize that the that we We base. we my that we base, goal to forward, increase last investing term achieve is the in we install going that is indirect think but portfolio very year think and I the to got opinion, the goal. short an install are definitely part

David Katz

Thank you, David.

Operator

Your from Ghilotti next question comes Domenico Equita. of

Your line now open. is

Domenico Ghilotti

Good My cost initiative. question the morning. saving to related is

cash synergies. of lower And or this to much is lower your for also say that fact related if projection, from expect the despite last, how very the not your indication the EBIT the my $XXX in the second you projecting tough should contribution forward, the higher add first on much the based P&L comparison. you XXXX. for basically is opportunities contribution question billion additional the up is for from And away or understand follow but million budget Let's a so the half, EBITDA a And semester. far [X:XX:XX] see second system, we going $X on a

decline non semester a the of in XXXX. sequential first So year on year

Max Chiara

is this take Hi, I'll Domenica speaking. Max one. this

displayed, we up by our Optima as program in So, action parts. three is have made

relocate this initiatives margin kind and and running initiatives. half to those able have first So, they full our forward. improvement swing offices, and has to the in action, which in going motion up been are contain almost XX% our we and now of there back And relates ability is of achieve to reorganized in footprint cost, been

The is product simplification. second the portion

into looked across So of we have the combination the product geographies board.

our We also is have initial the able running bit running because reduce its kind excellence, come expectations the there. stay been operational consistent with little and potential. The to the and volume but last one, XX% those meant a initiative in new which tune is of of production to of to that And certain that requires up. behind, spending it's of is it's to up of

the get benefit. full end said which demand, the moving full year, going is after we base gaming, probably quarter come again, to gaming going but towards as before, until of get of slowly land fruition to quarter the As it's we forward next to to not

are that savings to to to ahead come year. will in, hard little the strict we been so there reorganization maintaining in all tail so discipline come plan savings, time, have and able fruition a is on our next far. potentially of supply chain will the of terms So we spending fruition count cost on more benefits over The dramatic

we a call, probably half supply In the there we question? last XX of something in Does program be And to of to some able to be attrition, second the this first have costs million, cost offset half, some magnitude, expecting terms that we're power to max year. the generating enough those respond think half, of around said not balance in incremental constraints, optimal the will our we chain XX second the as million in year. your for significant

Domenico Ghilotti

you. Okay, thank

Operator

question [Operator Instructions] our of [X:XX:XX]. take DeCree John last We'll from

open. is line now Your

Unidentified Analyst

everyone, you Hi my taking thank questions. for

think I just been the them sports on US one answered, landscape. betting but most have of maybe

you've you be could presentation your on customers. level, your little elaborate thinking current US you've maybe you your and arena a outlook and over XX mentioned pipeline running about and sports would sports books a helpful? betting wondering think expectations, I for potential bit up the in that high be might pipeline and business XX your if in that, know in Marco's play got our

Marco Sala

morning. good For sure,

in business, as the always to the of this say a that our see management our sports this play BXB and opportunity we leverage next and we relationship an we are for platform operators, are business, mainly expect of service. to can positive. local providers commercial us traction in see and the as of We positivity jurisdictions regulate a are in betting, that that regarding years, these I segment our very role number we expected can in in terms end end risk turnkey the we we solution, where the for solutions part of supplier

opportunity a Just solution their the who you of existing target. And to those to these to little sports them. branded customers to the betting we have enable end the the They're it. sports our And provides color are bit betting have but you books, sports be doing operators own give in expertise, wanted that kind invest kind end business. represent of don't know, can of

State, the We in Colorado, have prepared in us already across nine active And [X:XX:XX] we recently Vegas. that important or resorts Nevada Washington books exploring. jurisdictions announced year. we Louisiana, earlier XX are respect commercial been remarks, has my this currently That [ph] and follow what open during said for as I leads with that have Las powering sports done during we've six Boyd the

know want So this if see is ask opportunity something don't I you way or clear answer. ready this to if I'm else is for us. the we it to

Unidentified Analyst

Yeah, congratulations quarter. another Thank that's perfect you. on Marco. Thanks strong so and much,

Operator

are will to IGT time, There further turn Mr. no questions the this call I CEO. at over Marco Sala, now

Marco Sala

accelerated year, Thank gaming you term have to lottery With fast return We trends, a the of half long of digital the QX to pre embedding financial today. appreciate an from both recovery tailwinds the IGT. us like another first businesses. cash in and six generation, and higher industry for the and enabling of growing months operating pandemic leverage global we outstanding In us joining your schedule. quarter interest was pace perspective. attractive

trend the November. day. fall investor this at in expect our conferences We We look positive forward Have to to continue. broker this at a seeing great you day

Operator

for today's conference concludes Thank call. you participating. This

may disconnect. You now

International Game Technology (IGT) 3 Aug 212021 Q2 Earnings call transcript