International Game Technology Plc (IGT): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de la technologie mondiale de jeu, International Game Technology Plc (IGT) apparaît comme une puissance, naviguant stratégiquement dans le paysage complexe des jeux numériques et terrestres. Avec une toile complète du modèle commercial qui couvre des technologies innovantes, des partenariats stratégiques et divers sources de revenus, IGT s'est positionné comme une force transformatrice dans l'industrie du jeu. De la conception de jeux de pointe aux plates-formes numériques sophistiquées, l'approche multiforme de l'entreprise révèle un plan sophistiqué pour le succès qui intrigue les experts de l'industrie et défie les paradigmes de jeu traditionnels.

International Game Technology PLC (IGT) - Modèle commercial: partenariats clés

Régulateurs de jeu et autorités de licence

IGT entretient des partenariats critiques avec les organismes de réglementation de jeu dans plusieurs juridictions:

Juridiction	Corps réglementaire	Détails du partenariat
États-Unis	NEVADA Gaming Control Board	Licence de jeu active depuis 1981
Royaume-Uni	Commission de jeu britannique	Licence d'opérations de jeu entièrement conforme
Italie	Agenzia delle Dogane E Dei Monopoli	Fournisseur de technologies de jeu national

Opérateurs de casino et lieux de jeu dans le monde entier

IGT collabore avec les principaux réseaux mondiaux de casino:

• Las Vegas Sands Corporation
• MGM Resorts International
• Césars Entertainment
• Wynn Resorts

Partners de développement de la technologie et des logiciels

Les collaborations technologiques stratégiques comprennent:

Partenaire	Focus technologique	Portée de collaboration
Microsoft Azure	Infrastructure cloud	Développement de la plate-forme de jeu numérique
Ibm	Intelligence artificielle	Algorithmes de jeu d'apprentissage automatique
Nvidia	Traitement des graphiques	Technologies graphiques de jeu avancées

Fabricants de matériel et fournisseurs

Réseau clé de partenariat matériel:

• Hewlett-Packard Enterprise
• Dell Technologies
• Intel Corporation
• Systèmes Cisco

Institutions financières et processeurs de paiement

Écosystème de partenariat financier critique:

Institution	Type de service	Volume de transaction
JPMorgan Chase	Banque commerciale	450 millions de dollars facilité de crédit
MasterCard	Traitement des paiements	Intégration mondiale de paiement numérique
Visa	Services de transaction	Accès du réseau de paiement mondial

International Game Technology Plc (IGT) - Modèle d'entreprise: activités clés

Conception et développement de jeux

IGT a investi 248,7 millions de dollars dans la recherche et le développement en 2022. La société maintient un portefeuille de plus de 500 titres de jeux actifs sur plusieurs plateformes de jeu.

Métriques de développement de jeux	Données quantitatives
Investissement annuel de R&D	248,7 millions de dollars
Titres de jeu actifs	500+
Équipes de développement de jeux	Plus de 1 200 employés

Fabrication de machines de jeu

L'IGT produit environ 20 000 machines de jeu par an dans plusieurs installations de fabrication dans le monde.

• Emplacements de fabrication à Las Vegas, Nevada
• Installations de production en Italie
• Capacités de fabrication sur plusieurs marchés internationaux

Création de plate-forme de jeu numérique et en ligne

Le segment des jeux numériques de l'IGT a généré 816 millions de dollars de revenus pour l'exercice 2022.

Métriques de plate-forme de jeu numérique	Données quantitatives
Revenus de jeux numériques	816 millions de dollars
Plateformes de jeu en ligne	37 juridictions
Titres de jeu numérique	180+ jeux en ligne

Solutions de technologie de jeu mondiale

L'IGT opère dans plus de 100 pays avec des solutions de technologie de jeu complètes.

• Présence du marché mondial dans les juridictions de jeu réglementées
• Solutions technologiques pour la loterie, les paris sportifs et les plateformes de casino
• Systèmes de jeu avancés déployés dans plusieurs continents

Maintenance du logiciel et intégration du système

IGT alloue environ 12 à 15% de ses revenus annuels à la maintenance des logiciels et aux efforts d'intégration du système.

Métriques de maintenance du logiciel	Données quantitatives
Investissement annuel de maintenance des logiciels	12-15% des revenus
Centres de soutien technique	6 emplacements mondiaux
Spécialistes de l'intégration du système	Plus de 500 professionnels

International Game Technology Plc (IGT) - Modèle d'entreprise: Ressources clés

Propriété intellectuelle et brevets de jeu

L'IGT détient plus de 3 500 brevets actifs liés au jeu dans le monde en 2023. Portefeuille de brevets d'une valeur d'environ 750 millions de dollars.

Catégorie de brevet	Nombre de brevets actifs
Technologie de jeu	1,850
Plates-formes de jeu numériques	1,200
Systèmes de loterie	450

Infrastructure de technologie de jeu avancée

IGT exploite 12 centres de technologie primaires dans 6 pays. Investissement total d'infrastructures technologiques de 425 millions de dollars en 2022.

• Centres de données mondiales: 8 emplacements stratégiques
• Budget de maintenance des infrastructures technologiques annuelles: 65 millions de dollars
• Infrastructure de cloud computing: 99,99% de disponibilité

Équipes mondiales de recherche et développement

La main-d'œuvre de la R&D comprend plus de 1 100 professionnels de la technologie dédiés. Investissement annuel de R&D de 280 millions de dollars en 2023.

Emplacement de R&D	Nombre de chercheurs
États-Unis	550
Italie	350
Royaume-Uni	200

Solide réputation de la marque dans l'industrie du jeu

Évaluation de la marque estimée à 1,2 milliard de dollars. Leadership du marché sur plus de 50 marchés mondiaux de jeu mondiaux.

Portfolio vaste de contenu et de plateformes de jeu

Le portefeuille de jeux comprend plus de 600 titres de jeu propriétaires. La plate-forme de jeu numérique atteint plus de 100 juridictions.

• Titres de jeu de casino: 350+
• Plateformes de jeu en ligne: 25
• Offres de jeux de loterie: 250+

International Game Technology Plc (IGT) - Modèle d'entreprise: propositions de valeur

Technologies et solutions de jeu innovantes

IGT a déclaré 6,4 milliards de dollars de revenus totaux pour 2022, les innovations technologiques de jeu stimulant un positionnement important sur le marché.

Catégorie de technologie	Investissement annuel	Portefeuille de brevets
Développement de logiciels de jeu	378 millions de dollars	Plus de 475 brevets actifs
Plates-formes de jeu numériques	265 millions de dollars	42 Solutions de jeu numériques

Expériences complètes de divertissement de jeu

IGT opère dans plus de 100 pays, offrant diverses solutions de divertissement de jeu.

• Global Gaming Machine Installed Base: 48 300 unités
• Plates-formes de jeu numériques servant 45 juridictions
• Contenu de casino en ligne disponible sur 27 marchés

Plates-formes de jeu sécurisées de haute qualité

IGT a investi 412 millions de dollars dans les infrastructures de sécurité de cybersécurité et de plateforme en 2022.

Métrique de sécurité	Performance
Time de disponibilité du système	99.98%
Conformité à la protection des données	100% normes réglementaires respectées

Offres de jeu numériques et terrestres avancées

Le segment numérique a généré 1,2 milliard de dollars de revenus pour 2022.

• Plateformes de casino en ligne: 22 marchés actifs
• Solutions de paris sportifs: 15 juridictions opérationnelles
• Applications de jeu mobile: 38 titres de jeu différents

Technologie et logiciels de jeu de pointe

Les dépenses de R&D ont atteint 535 millions de dollars en 2022, en se concentrant sur les technologies de jeu avancées.

Focus technologique	Investissement en développement	Déploiement du marché
Algorithmes de jeu d'IA	124 millions de dollars	17 solutions implémentées
Blockchain Gaming	86 millions de dollars	9 plates-formes prototypes

International Game Technology Plc (IGT) - Modèle d'entreprise: relations clients

Assistance des ventes directes pour les opérateurs de jeux

IGT maintient une équipe de vente dédiée au service de plus de 100 juridictions mondiales de jeu. La force de vente directe de la société génère environ 4,2 milliards de dollars de revenus de jeux annuels dans les segments de casino commerciaux et tribaux.

Canal de vente	Revenus annuels	Pénétration du marché
Casinos commerciaux	2,7 milliards de dollars	Part de marché de 65%
Opérateurs de jeux tribaux	1,5 milliard de dollars	Couverture du marché de 48%

Services de support technique et de maintenance

IGT fournit un support technique 24/7 sur les plateformes de jeu mondiales avec une main-d'œuvre technique dédiée de plus de 1 200 techniciens spécialisés.

• Temps de réponse moyen: 45 minutes
• Budget de soutien technique annuel: 127 millions de dollars
• Centres de soutien mondial: 12 emplacements

Consultations de solutions de jeu personnalisées

IGT propose des consultations de solutions de jeu spécialisées avec un investissement de 86 millions de dollars par an en recherche et développement pour les technologies de jeu personnalisées.

Type de consultation	Clients annuels	Valeur de consultation moyenne
Solutions matérielles	287 clients	450 000 $ par consultation
Solutions logicielles	412 clients	275 000 $ par consultation

Gestion de partenariat à long terme

L'IGT maintient des partenariats à long terme avec 92% de ses clients existants d'opérateur de jeu, avec une durée de partenariat moyenne de 7,3 ans.

Plate-formes d'engagement des clients numériques et interactifs

IGT investit 62 millions de dollars par an dans des plateformes d'engagement numérique, desservant plus de 1,4 million d'utilisateurs de jeux numériques actifs dans plusieurs juridictions.

• Utilisateurs de plate-forme numérique: 1,4 million
• Revenus de jeux mobiles: 376 millions de dollars
• Taux d'interaction de la plate-forme en ligne: 68%

International Game Technology Plc (IGT) - Modèle d'entreprise: canaux

Équipes de vente directes

IGT maintient une force de vente directe mondiale de 540 professionnels des ventes dédiés dans plusieurs régions. L'équipe de vente couvre les marchés clés, notamment:

Région	Taille de l'équipe de vente	Focus principal
Amérique du Nord	258 professionnels	Systèmes de casino et de loterie
Europe	142 professionnels	Matériel de jeu et plates-formes numériques
Asie-Pacifique	87 professionnels	Solutions de jeu internationales
l'Amérique latine	53 professionnels	Technologies de loterie et de casino

Salons et conférences de l'industrie du jeu

L'IGT participe activement aux principaux événements de l'industrie du jeu, avec un budget annuel de 4,2 millions de dollars. Les événements clés comprennent:

• Global Gaming Expo (G2E) à Las Vegas
• Conférence sur les jeux Ice London
• Congrès de jeu en Asie
• Congrès de jeu latino-américain

Plateformes numériques en ligne

Les canaux numériques de l'IGT génèrent 687 millions de dollars de revenus annuels de jeux numériques. Répartition de la plate-forme numérique:

Type de plate-forme	Revenus annuels	Base d'utilisateurs
Plateformes de casino en ligne	342 millions de dollars	2,3 millions d'utilisateurs enregistrés
Systèmes de loterie numérique	245 millions de dollars	1,7 million de joueurs actifs
Solutions de jeu mobiles	100 millions de dollars	1,1 million d'utilisateurs mobiles

Réseaux de distributeur et de revendeur

L'IGT exploite 127 distributeurs et revendeurs autorisés dans le monde, couvrant les marchés stratégiques:

• Amérique du Nord: 42 distributeurs
• Europe: 36 distributeurs
• Asie-Pacifique: 29 distributeurs
• Amérique latine: 20 distributeurs

Site Web d'entreprise et canaux de marketing numérique

La stratégie de marketing numérique de l'IGT comprend:

Canal numérique	Trafic mensuel	Métriques d'engagement
Site Web de l'entreprise	423 000 visiteurs uniques	Durée moyenne de la session: 4,2 minutes
Liendin	87 000 abonnés	Taux d'engagement postal: 3,7%
Gazouillement	62 000 abonnés	Taux de retweet: 2,9%

International Game Technology Plc (IGT) - Modèle d'entreprise: segments de clientèle

Opérateurs de casino commercial

L'IGT dessert les principaux opérateurs de casino commerciaux à travers l'Amérique du Nord et dans le monde. Les données clés du marché comprennent:

Région	Nombre de clients de casino	Pénétration du marché
États-Unis	382 casinos commerciaux	Part de marché de 67%
Nevada	86 Propriétés du casino	92% de déploiement d'équipement
Marchés mondiaux	214 CLIENTS CASINO INTERNATIONAL	53% de couverture du marché mondial

Plateformes de jeu en ligne

Le segment de jeu numérique de l'IGT sert des opérateurs de jeux en ligne:

• Revenus de jeux numériques: 568,3 millions de dollars en 2023
• Partenariats de plate-forme en ligne actifs: 42 juridictions
• Clients de plate-forme de jeu en ligne: 87 opérateurs

Organisations de loterie

IGT est un principal fournisseur de systèmes de loterie dans le monde entier:

Région	Clients de loterie	Part de marché
Amérique du Nord	37 State / Provincial Loteries	Couverture du marché de 78%
Europe	22 systèmes nationaux de loterie	Part de marché régional de 61%
Clients de la loterie mondiale	59 organisations totales de loterie	Marché de la technologie de loterie à 65%

Établissements de jeux amérindiens

IGT fournit des solutions de jeu spécialisées pour les marchés de jeu tribaux:

• Clients du casino amérindien: 128 établissements de jeux
• Contribution des revenus des jeux tribaux: 247,6 millions de dollars en 2023
• Pénétration du marché dans les jeux amérindiens: 82%

LIEUX ET OPÉRATEURS INTERNATIONALES

Les solutions de jeu mondiales de l'IGT couvrent plusieurs marchés internationaux:

Région	Nombre de clients	Contribution des revenus
l'Amérique latine	46 opérateurs de jeux	312,7 millions de dollars
Asie-Pacifique	37 lieux internationaux	276,4 millions de dollars
Europe / Moyen-Orient	54 opérateurs de jeux	398,2 millions de dollars

International Game Technology Plc (IGT) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2022, l'IGT a déclaré des frais de recherche et de développement de 228,2 millions de dollars.

Année	Dépenses de R&D ($ m)	Pourcentage de revenus
2022	228.2	5.3%
2021	214.5	5.1%

Coûts de fabrication et de production

Les coûts de fabrication et de production de l'IGT pour 2022 étaient d'environ 1,4 milliard de dollars.

• Coût de production des machines de jeu: 612,3 millions de dollars
• Coût de production de systèmes de jeu: 398,7 millions de dollars
• Coût de production de plateforme numérique et de paris: 389,0 millions de dollars

Investissements infrastructures technologiques

Les investissements sur les infrastructures technologiques pour 2022 ont totalisé 186,5 millions de dollars.

Catégorie d'infrastructure	Montant d'investissement ($ m)
Infrastructure cloud	67.3
Sécurité du réseau	52.9
Mises à niveau de la plate-forme numérique	66.3

Dépenses de marketing et de vente

Les frais de marketing et de vente pour 2022 étaient de 445,6 millions de dollars.

• Campagnes marketing mondiales: 156,2 millions de dollars
• Compensation de l'équipe de vente: 189,4 millions de dollars
• Salon du commerce et marketing d'événements: 100,0 millions de dollars

Frais de conformité réglementaire et de licence

Les dépenses totales de conformité réglementaire et de licence en 2022 étaient de 93,7 millions de dollars.

Catégorie de conformité	Dépenses ($ m)
Frais de licence de jeu	47.3
Conformité réglementaire	36.4
Juridique et consultant	10.0

International Game Technology PLC (IGT) - Modèle d'entreprise: Strots de revenus

Ventes de machines de jeu

En 2022, IGT a déclaré des revenus de ventes de machines de jeu de 1,2 milliard de dollars. La société a vendu environ 8 500 machines de jeu dans le monde au cours de l'exercice.

Type de machine	Unités vendues	Revenus ($ m)
Machines à sous de casino	6,200	$850
Machines à vidéo poker	1,500	$250
Machines de jeu spécialisées	800	$100

Licence de logiciel de jeu

IGT a généré 475 millions de dollars à partir de licences de logiciels de jeu en 2022, avec des accords de licence couvrant 35 pays.

• Revenus de licence de jeu numérique: 275 millions de dollars
• Revenus de licence de jeu physique: 200 millions de dollars

Frais d'abonnement à plate-forme numérique

Les revenus d'abonnement à la plate-forme numérique ont atteint 350 millions de dollars en 2022, avec 220 clients de plate-forme numérique dans le monde.

Type de plate-forme	Abonnés	Revenus ($ m)
Plateformes de casino en ligne	120	$200
Plateformes de paris sportifs	65	$100
Systèmes de gestion de la loterie	35	$50

Royalités de contenu de jeu

Les revenus de redevances pour l'IGT ont totalisé 225 millions de dollars en 2022, dérivé de l'utilisation du contenu de jeu sur plusieurs plateformes.

Services de support technique et de maintenance

Les services de soutien technique et de maintenance ont généré 400 millions de dollars de revenus en 2022.

Catégorie de service	Revenus ($ m)
Maintenance matérielle	$250
Support logiciel	$100
Services de conseil	$50

International Game Technology PLC (IGT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why government beneficiaries and lottery operators partner with International Game Technology PLC (IGT). It's all about dependable operations and revenue generation, backed by hard numbers from their latest reports.

Highly reliable, secure, and compliant lottery operating systems

The value here is long-term operational certainty. A prime example is the Italy Lotto license, which International Game Technology PLC (IGT) secured through November 2034. This demonstrates a commitment to multi-decade service delivery for a major government beneficiary. Furthermore, the company's Q2 2025 results showed that same-store sales trends improved globally, with core instant ticket and draw games growing close to 3% year-on-year, indicating system stability even amidst market fluctuations.

Stable, high-margin recurring revenue for government beneficiaries

A significant portion of International Game Technology PLC (IGT)'s business is service-based, which translates directly to recurring revenue streams. In fiscal year 2024, service revenue accounted for 94% of total revenue. The profitability of this model is evident in the Q1 2025 results, where the company posted an Adjusted EBITDA margin of 42.8%. For the full fiscal year 2025, the company projected an Adjusted EBITDA of approximately $1.10 billion on expected revenue of about $2.55 billion.

The scale of this recurring revenue proposition is best seen in the regional breakdown of Q1 2025 revenue, where 49% came from the U.S. and Canada, and 13% from Italy.

Metric	Value (Q2 2025)	Value (FY 2025 Guidance)
Total Revenue	$631 million (Q2)	Approx. $2.55 billion (Full Year)
Adjusted EBITDA	Not specified (Q2)	Approx. $1.10 billion (Full Year)
Service Revenue Share (FY 2024 Context)	94% of Total Revenue	N/A

Innovative instant ticket and draw game content driving player engagement

Player engagement is quantified through sales and wager growth, showing the success of new content. In Q2 2025, global iLottery wagers saw an increase of more than 30%. This digital growth is set against a backdrop where the broader online gambling market is projected to exceed $100 billion by 2026. Even in the more traditional segments, Q2 2025 saw core instant ticket and draw games achieve close to 3% same-store sales growth globally. In Italy specifically, same-store sales rose nearly 4%. This contrasts with Q1 2025, where normalized global same-store sales for these games were up 1.4%.

End-to-end service, from game design to retail terminal maintenance

This comprehensive offering is supported by the high service revenue percentage and the breadth of operational scope. International Game Technology PLC (IGT) operates day-to-day operations in nine jurisdictions, positioning them as the world's largest lottery operator. The company is also the primary technology provider to many of the world's largest lotteries and the number one provider of iLottery platforms globally.

• Global iLottery wagers increased by over 30% in Q2 2025.
• The company is the number one provider of iLottery platforms globally.
• Service revenue accounted for 94% of total revenue in 2024.

Expertise in responsible gaming and regulatory compliance

Compliance and trust are foundational to securing long-term contracts. The company's Q1 2025 results confirmed strong cash conversion, with net cash from operating activities rising 159% to $168 million, and free cash flow increasing to $92 million for that quarter. This financial health provides ample liquidity to fund important contract renewals, a key indicator of sustained regulatory confidence. The company's focus on digital trends in 2025 also includes prioritizing responsible gaming.

International Game Technology PLC (IGT) - Canvas Business Model: Customer Relationships

International Game Technology PLC (IGT) maintains relationships with government entities that are characterized by a high-touch, long-term approach, particularly within its Global Lottery operations, which are now positioned as the core business following the sale of the Gaming & Digital segment.

The foundation of these relationships is contractual lock-in, often spanning multiple years or even decades, which secures a recurring revenue base. For instance, IGT secured a 10-year contract with Loterie Nationale in Luxembourg in January 2025, an agreement expected to run through 2036. This builds upon a partnership with that lottery that already exceeded 20 years. The company also renewed a nine-year Facilities Management contract with the Tennessee Lottery and ten-year FM contracts with the North Carolina Education Lottery. Furthermore, IGT holds a significant stake, 61.5 percent, in the consortium managing the Italian Lottery, a concession it has held since the 1990s. IGT has a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions globally.

The service-based model is deeply embedded, functioning as a partnership for modernization and growth. This includes deploying advanced technology like the OMNIA™ solution for central gaming system upgrades and iLottery deployment. The scale of the service delivery is substantial; IGT is the world leader in vending terminals with approximately 400,000 retail terminals, which is 4x more than any competitor. These Facilities Management systems have the capacity to support about one million transactions per minute. The focus on modernization acts as strategic consulting, helping lotteries like LOTTO Thüringen upgrade their central retail systems to enhance efficiency.

The financial commitment required to secure and maintain these relationships is significant, demonstrating the value placed on the long-term nature of the business. To retain the Italian Lottery concession, IGT had to bid $2.6 billion, involving upfront payments in 2025 of €500 million ($562 million) and €300 million ($338 million), with a balance of $1.7 billion due in 2026. The company reported total liquidity of $2.2 billion as of March 31, 2025, which provided ample liquidity in advance of important contract renewals. The core lottery business, which drives these relationships, is highly profitable, showing an Adjusted EBITDA margin of 42.8% in Q1 2025.

Here is a snapshot of recent contract activity demonstrating the long-term nature of these B2G relationships:

Jurisdiction/Client	Contract Type/Term	Key Technology Deployed	Relationship Tenure Context
Loterie Nationale (Luxembourg)	10-year contract (through 2036)	OMNIA™ solution, iLottery system	Partner for more than 20 years
LOTTO Thüringen (Germany)	Seven-year extension	Aurora retail central system	Decades-long relationship
Italian Lottery (Consortium)	Concession renewal	End-to-end lottery management	Concession held since the 1990s
North Carolina Education Lottery	Ten-year FM contract renewal	Facilities Management (FM)	Long-term contract structure
Mississippi and Virginia Lotteries	Three-year FM contract renewal	Facilities Management (FM)	Long-term contract structure

The service component is critical, as evidenced by the deployment of the OMNIA omnichannel solution, which is designed to modernize operations and drive growth. The company expects full-year 2025 revenue from these continuing operations to be approximately $2.5 billion.

The customer relationship structure is supported by dedicated account management, which is necessary to optimize system performance and content delivery across the installed base of 400,000 terminals. This specialized focus allows International Game Technology PLC to maintain a high level of service integrity across its global footprint.

International Game Technology PLC (IGT) - Canvas Business Model: Channels

You're looking at how International Game Technology PLC (IGT) gets its world-class lottery solutions and game content into the hands of players and operators. The channels are almost entirely business-to-government (B2G) or business-to-business (B2B) with lottery operators, which is why contract wins are so critical.

For the full year 2024, International Game Technology PLC (IGT) reported total revenue of $2.5 billion, with service revenue making up a massive 94% of that total in the context of the business before the Gaming & Digital sale. This heavy reliance on services underscores the importance of the direct sales and long-term contract channels.

Direct sales and service to State and Provincial Lottery Commissions form the bedrock of the Lottery segment. This is where the company deploys its central systems and ongoing management services. For instance, in the first quarter of 2025, the company reported total liquidity of $2.2 billion, providing ample liquidity to fund important contract renewals.

The physical retail network is the traditional touchpoint, managed through the deployment and servicing of lottery terminals. While specific terminal counts aren't in the latest filings, we see the scale of deployment in contract wins. The North Carolina Education Lottery extension alone involves providing up to 8,500 newly launched Retailer Pro S2 terminals and 500 GameTouch™ 28 self-service vending machines.

Digital iLottery platforms are showing significant growth momentum, which is a key channel for future revenue. In the first quarter of 2025, wagers on iLottery confirmed sustained player demand, with the segment seeing wagers increase by more than 25% year-over-year, fueled by double-digit growth across all geographic regions. This digital channel is clearly a high-growth area, even as the overall Q1 2025 revenue was $583 million.

Direct contract negotiation and renewal with government agencies are the lifeblood of the business, securing long-term revenue streams. These are high-stakes, multi-year agreements that lock in service revenue. The company recently executed a 10-year Lottery and iLottery contract in Luxembourg and secured a 10-year facilities management contract extension with the North Carolina Education Lottery. These long-term commitments ensure channel access for years to come.

Global distribution centers support the physical channel through instant ticket printing. The company noted higher instant ticket printing in the current year (Q1 2025 vs. prior year). This channel was recently bolstered by securing a three-year primary instant ticket printing contract with Portugal's national lottery, following a competitive process.

Here's a quick look at the scale and recent wins across these key channels:

Channel/Metric	Associated Data Point	Context/Term
FY 2024 Revenue Scale	$2.5 billion	Full Year 2024 Total Revenue
iLottery Growth (Q1 2025)	>25% increase in wagers Y/Y	Digital Channel Performance
North Carolina Contract	10-year extension	Facilities Management/Direct Service
Portugal Contract	Three-year primary printing contract	Instant Ticket Distribution
Luxembourg Contract	10-year Lottery and iLottery contract	Direct Government Agreement
Geographic Revenue Mix (FY 2024)	49% from U.S. & Canada	Revenue Source Context
Terminal Deployment Example	Up to 8,500 Retailer Pro S2 terminals	North Carolina Contract Scope

The company's operational focus is clearly on maintaining and expanding these government-facing channels. For example, the Q1 2025 Adjusted EBITDA margin of 42.8% reflects the attractive profit structure of this pure-play lottery business, which is built on these long-term service contracts.

You can see the emphasis on maintaining physical presence and securing digital rights through these recent contract actions:

• Secured 10-year extension with North Carolina Education Lottery.
• Awarded three-year primary instant ticket printing contract in Portugal.
• Executed 10-year Lottery and iLottery contract in Luxembourg.
• Q1 2025 revenue from U.S. and Canada was $259 million.
• Q1 2025 revenue from Italy was $246 million.

The company is actively managing its physical footprint, though Q1 2025 saw lower terminal sales compared to the prior year due to a beneficial product mix in that earlier period. Still, the core service channel remains robust, as evidenced by the $1.17 billion Adjusted EBITDA delivered for the full year 2024.

Finance: draft 13-week cash view by Friday.

International Game Technology PLC (IGT) - Canvas Business Model: Customer Segments

You're looking at the core groups International Game Technology PLC (IGT) serves as it solidifies its position as a pure-play lottery technology provider following the sale of its Gaming & Digital business.

Government and State Lottery Commissions (primary customer)

These commissions represent the core contractual relationships for IGT's recurring service revenue, which accounted for 94% of total revenue in fiscal year 2024. The business is heavily reliant on these entities across its operating geographies. For fiscal year 2025, IGT is projecting total revenue of approximately $2.55 billion, with a significant portion derived from these long-term service agreements. A key customer relationship is the Italy Lotto tender process, which was underway, with IGT securing the license through November 2034, following Italy same-store sales growth of 4% in Q2 2025.

Retailers and merchants who host lottery terminals

While direct numbers for the merchant count aren't public, the physical retail footprint is essential for instant ticket and draw game distribution. In Q1 2025, instant ticket and draw-based game revenue globally was $500 million. U.S. instant ticket sales were notably strong in states like California and Florida in Q2 2025. The company's FY 2024 revenue breakdown showed 49% from the U.S. and Canada, indicating a massive network of hosting locations.

Lottery players (end-users) for instant, draw, and iLottery games

Players are the ultimate source of the revenue stream, segmented by their preferred game type. Global instant ticket and draw game same-store sales, when normalized for calendar shifts, increased by 1.4% in Q1 2025. The digital segment shows rapid adoption; IGT's iLottery segment saw wagers increase by more than 25% year-over-year in Q1 2025, and in Q2 2025, there was a 30% increase in iLottery wagers globally. Furthermore, 71% of weekly lottery players want surprise recommendations based on their lifestyle habits, pointing to the demand for personalized digital experiences.

International lottery operators across six continents

IGT's global reach is evident in its revenue segmentation from fiscal year 2024, where 13% of revenue came from Italy and 38% came from the Rest of World region, suggesting operations spanning multiple continents beyond North America. Instant ticket and draw games grew by 5.2% year-on-year outside of North America and Italy in Q1 2025, showing international resilience.

U.S. multi-state jackpot organizations

This customer group drives significant, albeit volatile, revenue spikes. In Q1 2025, revenue from U.S. multi-state jackpot games dropped steeply by 46%, generating only $17 million for the quarter, which management noted as a key headwind impacting the overall Q1 2025 revenue of $583 million.

Here's a quick look at the key financial metrics tied to these customer activities as of the first half of 2025:

Metric	Value/Period	Context/Source Segment
FY 2025 Projected Revenue	$2.55 billion	Overall Lottery Business
FY 2025 Projected Adjusted EBITDA	$1.10 billion	Overall Lottery Business
Q1 2025 Instant/Draw Game Revenue	$500 million	Retailers/Players (Instant/Draw Games)
Q1 2025 U.S. Multi-State Jackpot Revenue	$17 million	U.S. Multi-state Jackpot Organizations
Q1 2025 iLottery Wager Growth (YoY)	>25%	Lottery Players (End-Users)
FY 2024 Service Revenue Share	94%	Government/State Commissions (Contractual)
Q2 2025 Italy iLottery Wager Growth	20%	International Operators/Players

The company's strong liquidity position, with $2.2 billion in total liquidity as of March 31, 2025, including $0.6 billion in unrestricted cash, supports ongoing service delivery to these segments, especially ahead of important contract renewals.

• Global instant ticket and draw game same-store sales growth (normalized) in Q1 2025: 1.4%.
• Q2 2025 Adjusted EBITDA: $274 million.
• FY 2024 Revenue from U.S. and Canada: 49%.
• FY 2024 Revenue from Rest of World: 38%.
• IGT expects to realize $4.05 billion in cash proceeds from the sale of its Gaming & Digital business, which will impact future capital allocation strategy for its remaining lottery customers.

International Game Technology PLC (IGT) - Canvas Business Model: Cost Structure

You're looking at the heavy expenditures that keep International Game Technology PLC (IGT), soon to be Brightstar Lottery, running as a pure-play lottery operator. The cost structure is dominated by necessary, large-scale investments and significant contractual obligations, especially as the company transitions post-divestiture.

Capital Expenditures (CapEx) for Infrastructure Renewal

A major drain on cash flow is the need to refresh the physical assets. International Game Technology PLC (IGT) anticipates a significant capital expenditure cycle in 2025 and 2026. For the full year 2025, the company projects its CapEx to be in the range of $400 million to $450 million. This spending covers essential terminal replacement and system upgrades to maintain service quality and compliance.

Italy Lotto License Fee Obligations

The commitment for the Italy Lotto concession represents a substantial, non-recurring cash event. While the user-provided estimate was approximately $900 million for the year, the company's guidance specifically points to the impact of the first two installments. Cash from operations for fiscal year 2025 is now expected to be a use of approximately $350 million, primarily to account for the incremental foreign exchange impact on the first two installments of the Italy Lotto license fee. This significant cash outflow is a critical factor in the company's 2025 cash management strategy.

Cost of Sales for Core Operations

The direct costs associated with delivering lottery services and hardware remain significant. Looking at the continuing operations before the full impact of the business sale, the cost base is clear. For the nine months ended September 30, 2024, the Cost of services totaled $907 million. Separately, the Cost of product sales for the third quarter of 2024 was $300 million.

Here's a quick look at some of the reported costs from the continuing operations around the time of the Q3 2024 reporting:

Cost Category (Nine Months Ended Sept 30, 2024)	Amount (USD in millions)
Cost of Services	907
Cost of Product Sales (Q3 2024 Only)	300
Operating Expenses (Q3 2024)	477

Research and Development (R&D) and Operational Overhead

To maintain its market position, International Game Technology PLC (IGT) must invest in innovation, which falls under R&D for game and platform development. The company is focused on driving sustainable, long-term growth through initiatives like investments in AI and digital. While specific 2025 R&D figures aren't explicitly broken out in the latest guidance, the overall cost structure includes incremental investments to support these growth initiatives.

Operating costs also include maintaining the necessary technological backbone. This involves the expense of running secure data centers and supporting the global field service network required to manage lottery terminals and systems across jurisdictions. The company is also working on a cost optimization initiative, OPtiMa 3.0, set to deliver $40 million in annualized savings by 2026.

The cost of running the business is substantial.

• Restructuring charges associated with optimizing general, administrative, and operating activities impacted Q3 2024 operating income by $38 million.
• Upfront license amortization costs were $48 million in Q3 2024.
• The company reported total liquidity of $2.2 billion as of March 31, 2025, composed of $0.6 billion in unrestricted cash and $1.5 billion in additional borrowing capacity.

International Game Technology PLC (IGT) - Canvas Business Model: Revenue Streams

You're looking at the core money-makers for International Game Technology PLC (IGT) as they pivot to a focused lottery pure play heading into late 2025. The streams are heavily weighted toward recurring service fees over upfront hardware sales, which makes sense for a long-term contract business.

The financial expectations for the full year 2025, based on continuing operations, show a clear target for the business.

Metric	2024 Actual Basis (Approximate)	2025 Outlook (Continuing Operations)
Total Revenue	$2.5 billion	Approximately $2.55 billion
Adjusted EBITDA	$1.17 billion	Around $1.10 billion

The composition of the 2024 revenue clearly shows where the operational value lies, which directly informs the 2025 projections. Here's the quick math on the 2024 split, using the reported $2.5 billion total revenue for context:

• Service Revenue from lottery management agreements (LMA) and transaction fees: 94% of 2024 revenue.
• Product Sales from lottery terminal and system hardware: 6% of 2024 revenue.

To give you the dollar context for that 2024 split, based on the $2.5 billion revenue figure:

Revenue Stream Type	Percentage of 2024 Revenue	Approximate 2024 Dollar Amount
Service Revenue (LMA & Transaction Fees)	94%	$2.35 billion
Product Sales (Hardware)	6%	$0.15 billion

Also critical to the revenue stream is the direct participation in game performance, which is separate from the fixed service fees. This is the wager-based component that fluctuates with player activity, like jackpot sizes. For instance, in the fourth quarter of 2024, the instant ticket and draw wager-based revenue component was reported at $511 million.

You should keep an eye on these specific drivers, as they impact the overall top line, even if the service revenue is the bedrock. The Q1 2025 revenue came in at $583 million, showing the immediate impact of lower U.S. multi-state jackpot activity on variable revenue components.

The key revenue generation activities look like this:

• Securing and managing long-term Lottery Management Agreements (LMA) for recurring service fees.
• Collecting transaction fees based on the volume of lottery play across managed systems.
• Generating revenue share from instant ticket and draw game sales volumes.
• Selling lottery terminal and system hardware, though this is a smaller portion of the total.

Finance: draft 13-week cash view by Friday.