International Game Technology Plc (IGT): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da tecnologia global de jogos, a International Game Technology plc (IGT) surge como uma potência, navegando estrategicamente no cenário complexo dos jogos digitais e terrestres. Com uma tela abrangente de modelo de negócios que abrange tecnologias inovadoras, parcerias estratégicas e diversos fluxos de receita, a IGT se posicionou como uma força transformadora na indústria de jogos. Do design de jogos de ponta a plataformas digitais sofisticadas, a abordagem multifacetada da empresa revela um projeto sofisticado para o sucesso que intriga especialistas do setor e desafia os paradigmas tradicionais de jogos.

International Game Technology plc (IGT) - Modelo de negócios: parcerias -chave

Reguladores de jogos e autoridades de licenciamento

A IGT mantém parcerias críticas com órgãos reguladores de jogos em várias jurisdições:

Jurisdição	Órgão regulatório	Detalhes da parceria
Estados Unidos	Placa de controle de jogos de Nevada	Licença de jogo ativo desde 1981
Reino Unido	Comissão de jogo do Reino Unido	Licença de operações de jogo totalmente compatível
Itália	Agenzia delle Dogane e Dei Monopoli	Provedor nacional de tecnologia de jogos

Operadores de cassino e locais de jogos em todo o mundo

O IGT colabora com as principais redes globais de cassino:

• Las Vegas Sands Corporation
• MGM Resorts International
• Entretenimento de Caesars
• Wynn Resorts

Parceiros de tecnologia e desenvolvimento de software

As colaborações de tecnologia estratégica incluem:

Parceiro	Foco em tecnologia	Escopo de colaboração
Microsoft Azure	Infraestrutura em nuvem	Desenvolvimento da plataforma de jogos digitais
IBM	Inteligência artificial	Algoritmos de jogos de aprendizado de máquina
Nvidia	Processamento gráfico	Tecnologias de gráficos de jogos avançados

Fabricantes de hardware e fornecedores

Rede de parceria de hardware -chave:

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

Instituições financeiras e processadores de pagamento

Ecossistema crítico de parceria financeira:

Instituição	Tipo de serviço	Volume de transação
JPMorgan Chase	Banco corporativo	Linha de crédito de US $ 450 milhões
MasterCard	Processamento de pagamento	Integração de pagamento digital global
Visa	Serviços de transação	Acesso à rede de pagamento em todo o mundo

International Game Technology plc (IGT) - Modelo de negócios: atividades -chave

Design e desenvolvimento de jogos

A IGT investiu US $ 248,7 milhões em pesquisa e desenvolvimento em 2022. A empresa mantém um portfólio de mais de 500 títulos de jogos ativos em várias plataformas de jogos.

Métricas de desenvolvimento de jogos	Dados quantitativos
Investimento anual de P&D	US $ 248,7 milhões
Títulos de jogos ativos	500+
Equipes de desenvolvimento de jogos	Mais de 1.200 funcionários

Fabricação de máquinas de jogos

A IGT produz aproximadamente 20.000 máquinas de jogos anualmente em várias instalações de fabricação em todo o mundo.

• Locais de fabricação em Las Vegas, Nevada
• Instalações de produção na Itália
• Capacidades de fabricação em vários mercados internacionais

Criação de plataforma de jogos digital e online

O segmento de jogos digitais da IGT gerou US $ 816 milhões em receita para o ano fiscal de 2022.

Métricas da plataforma de jogos digitais	Dados quantitativos
Receita de jogos digitais	US $ 816 milhões
Plataformas de jogos online	37 Jurisdições
Títulos de jogos digitais	180+ jogos online

Soluções globais de tecnologia de jogos

A IGT opera em mais de 100 países com soluções abrangentes de tecnologia de jogos.

• Presença do mercado global em jurisdições regulamentadas de jogos
• Soluções de tecnologia para loteria, apostas esportivas e plataformas de cassino
• Sistemas de jogos avançados implantados em vários continentes

Manutenção de software e integração do sistema

A IGT aloca aproximadamente 12 a 15% de sua receita anual em relação aos esforços de manutenção e integração do sistema.

Métricas de manutenção de software	Dados quantitativos
Investimento anual de manutenção de software	12-15% da receita
Centros de Suporte Técnico	6 locais globais
Especialistas em integração de sistemas	Mais de 500 profissionais

International Game Technology plc (IGT) - Modelo de negócios: Recursos -chave

Propriedade intelectual e patentes de jogo

A IGT detém mais de 3.500 patentes relacionadas a jogos ativos em todo o mundo a partir de 2023. A carteira de patentes avaliada em aproximadamente US $ 750 milhões.

Categoria de patentes	Número de patentes ativas
Tecnologia de jogos	1,850
Plataformas de jogos digitais	1,200
Sistemas de loteria	450

Infraestrutura de tecnologia de jogos avançada

A IGT opera 12 centros de tecnologia primários em 6 países. Infraestrutura de tecnologia total investimento de US $ 425 milhões em 2022.

• Data Centers globais: 8 locais estratégicos
• Orçamento anual de manutenção de infraestrutura tecnológica: US $ 65 milhões
• Infraestrutura de computação em nuvem: 99,99% de tempo de atividade

Equipes de pesquisa e desenvolvimento globais

A R&D Workforce compreende mais de 1.100 profissionais de tecnologia dedicados. Investimento anual de P&D de US $ 280 milhões em 2023.

Localização de P&D	Número de pesquisadores
Estados Unidos	550
Itália	350
Reino Unido	200

Forte reputação de marca na indústria de jogos

Avaliação da marca estimada em US $ 1,2 bilhão. Liderança de mercado em mais de 50 mercados globais de jogos.

Extenso portfólio de conteúdo e plataformas de jogos

O portfólio de jogos inclui mais de 600 títulos de jogos proprietários. A plataforma de jogos digital alcance em mais de 100 jurisdições.

• Títulos de jogos de cassino: 350+
• Plataformas de jogos online: 25
• Ofertas de jogos de loteria: 250+

International Game Technology plc (IGT) - Modelo de negócios: proposições de valor

Tecnologias e soluções inovadoras de jogos

A IGT registrou US $ 6,4 bilhões em receita total em 2022, com inovações em tecnologia de jogos impulsionando um posicionamento significativo do mercado.

Categoria de tecnologia	Investimento anual	Portfólio de patentes
Desenvolvimento de software para jogos	US $ 378 milhões	Mais de 475 patentes ativas
Plataformas de jogos digitais	US $ 265 milhões	42 soluções de jogos digitais

Experiências abrangentes de entretenimento para jogos

A IGT opera em mais de 100 países, fornecendo diversas soluções de entretenimento para jogos.

• Máquina de jogos global Base instalada: 48.300 unidades
• Plataformas de jogos digitais que atendem 45 jurisdições
• Conteúdo do cassino online disponível em 27 mercados

Plataformas de jogos seguras de alta qualidade

A IGT investiu US $ 412 milhões em infraestrutura de segurança cibernética e plataforma em 2022.

Métrica de segurança	Desempenho
Tempo de atividade do sistema	99.98%
Conformidade com proteção de dados	100% padrões regulatórios atendidos

Ofertas avançadas de jogos digitais e terrestres

O segmento digital gerou US $ 1,2 bilhão em receita para 2022.

• Plataformas de cassino online: 22 mercados ativos
• Soluções de apostas esportivas: 15 jurisdições operacionais
• Aplicativos para jogos móveis: 38 títulos de jogos diferentes

Tecnologia e software de jogo de ponta

As despesas de P&D atingiram US $ 535 milhões em 2022, com foco em tecnologias avançadas de jogo.

Foco em tecnologia	Investimento em desenvolvimento	Implantação de mercado
Algoritmos de jogos da AI	US $ 124 milhões	17 Soluções implementadas
Blockchain Gaming	US $ 86 milhões	9 plataformas de protótipo

International Game Technology plc (IGT) - Modelo de negócios: relacionamentos com o cliente

Suporte de vendas diretas para operadores de jogos

A IGT mantém uma equipe de vendas dedicada que atende a mais de 100 jurisdições globais de jogos. A força de vendas direta da empresa gera aproximadamente US $ 4,2 bilhões em receita anual de jogos em segmentos de cassinos comerciais e tribais.

Canal de vendas	Receita anual	Penetração de mercado
Cassinos comerciais	US $ 2,7 bilhões	65% de participação de mercado
Operadores de jogos tribais	US $ 1,5 bilhão	48% de cobertura do mercado

Serviços de Suporte e Manutenção Técnicos

A IGT fornece suporte técnico 24/7 em plataformas globais de jogos com uma força de trabalho técnica dedicada de mais de 1.200 técnicos especializados.

• Tempo médio de resposta: 45 minutos
• Orçamento anual de suporte técnico: US $ 127 milhões
• Centros de Suporte Global: 12 locais

Consultas de solução para jogos personalizadas

A IGT oferece consultas de soluções de jogos especializadas com um investimento de US $ 86 milhões anualmente em pesquisa e desenvolvimento para tecnologias de jogos personalizadas.

Tipo de consulta	Clientes anuais	Valor médio de consulta
Soluções de hardware	287 clientes	US $ 450.000 por consulta
Soluções de software	412 clientes	US $ 275.000 por consulta

Gerenciamento de parceria de longo prazo

A IGT mantém parcerias de longo prazo com 92% de seus clientes de operadores de jogos existentes, com uma duração média de parceria de 7,3 anos.

Plataformas de engajamento de clientes digitais e interativas

A IGT investe US $ 62 milhões anualmente em plataformas de engajamento digital, atendendo a mais de 1,4 milhão de usuários ativos de jogos digitais em várias jurisdições.

• Usuários da plataforma digital: 1,4 milhão
• Receita de jogos para dispositivos móveis: US $ 376 milhões
• Taxa de interação da plataforma on -line: 68%

International Game Technology plc (IGT) - Modelo de negócios: canais

Equipes de vendas diretas

A IGT mantém uma força de vendas direta global de 540 profissionais de vendas dedicados em várias regiões. A equipe de vendas abrange os principais mercados, incluindo:

Região	Tamanho da equipe de vendas	Foco primário
América do Norte	258 profissionais	Sistemas de cassino e loteria
Europa	142 profissionais	Hardware de jogos e plataformas digitais
Ásia-Pacífico	87 profissionais	Soluções internacionais de jogos
América latina	53 profissionais	Loteria e tecnologias de cassino

Feiras de comércio da indústria de jogos e conferências

A IGT participa ativamente de grandes eventos da indústria de jogos, com um orçamento anual da feira comercial de US $ 4,2 milhões. Os principais eventos incluem:

• Global Gaming Expo (G2E) em Las Vegas
• Conferência de jogos de Londres no gelo
• Congresso de jogos da Ásia
• Congresso de Jogos Latino -Americanos

Plataformas digitais online

Os canais digitais da IGT geram US $ 687 milhões em receita anual de jogos digitais. Digital Platform Breakdown:

Tipo de plataforma	Receita anual	Base de usuários
Plataformas de cassino online	US $ 342 milhões	2,3 milhões de usuários registrados
Sistemas de loteria digital	US $ 245 milhões	1,7 milhão de jogadores ativos
Soluções de jogos móveis	US $ 100 milhões	1,1 milhão de usuários móveis

Distribuidor e redes de revendedores

A IGT opera através de 127 distribuidores e revendedores autorizados em todo o mundo, cobrindo mercados estratégicos:

• América do Norte: 42 distribuidores
• Europa: 36 distribuidores
• Ásia-Pacífico: 29 distribuidores
• América Latina: 20 distribuidores

Site corporativo e canais de marketing digital

A estratégia de marketing digital da IGT inclui:

Canal digital	Tráfego mensal	Métricas de engajamento
Site corporativo	423.000 visitantes únicos	Duração média da sessão: 4,2 minutos
LinkedIn	87.000 seguidores	Taxa de pós -envolvimento: 3,7%
Twitter	62.000 seguidores	Taxa de retweet: 2,9%

International Game Technology plc (IGT) - Modelo de negócios: segmentos de clientes

Operadores comerciais de cassino

A IGT serve os principais operadores de cassinos comerciais na América do Norte e globalmente. Os principais dados do mercado incluem:

Região	Número de clientes de cassino	Penetração de mercado
Estados Unidos	382 cassinos comerciais	67% de participação de mercado
Nevada	86 Propriedades do Casino	92% de implantação de equipamentos
Mercados globais	214 clientes internacionais de cassino	53% de cobertura global de mercado

Plataformas de jogo online

O segmento de jogos digitais da IGT serve operadores de jogo online:

• Receita de jogos digitais: US $ 568,3 milhões em 2023
• Parcerias de plataforma on -line ativas: 42 jurisdições
• Clientes da plataforma de jogo online: 87 operadores

Organizações de loteria

A IGT é um provedor líder de sistema de loteria em todo o mundo:

Região	Clientes de loteria	Quota de mercado
América do Norte	37 loterias estaduais/provinciais	78% de cobertura de mercado
Europa	22 sistemas nacionais de loteria	61% de participação de mercado regional
Clientes globais de loteria	59 Organizações totais de loteria	65% do mercado global de tecnologia de loteria

Estabelecimentos de jogos nativos americanos

A IGT fornece soluções de jogos especializadas para os mercados de jogos tribais:

• Clientes de cassinos nativos americanos: 128 estabelecimentos de jogos
• Contribuição da receita de jogos tribais: US $ 247,6 milhões em 2023
• Penetração de mercado em jogos nativos americanos: 82%

Locais e operadores internacionais de jogos

As soluções globais de jogos da IGT abrangem vários mercados internacionais:

Região	Número de clientes	Contribuição da receita
América latina	46 operadores de jogos	US $ 312,7 milhões
Ásia-Pacífico	37 locais internacionais	US $ 276,4 milhões
Europa/Oriente Médio	54 operadores de jogos	US $ 398,2 milhões

International Game Technology plc (IGT) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a IGT relatou despesas de pesquisa e desenvolvimento de US $ 228,2 milhões.

Ano	Despesas de P&D ($ M)	Porcentagem de receita
2022	228.2	5.3%
2021	214.5	5.1%

Custos de fabricação e produção

Os custos de fabricação e produção da IGT para 2022 foram de aproximadamente US $ 1,4 bilhão.

• Máquinas de jogo Custo de produção: US $ 612,3 milhões
• Custo de produção de sistemas de jogos: US $ 398,7 milhões
• Custo de produção de plataforma digital e de apostas: US $ 389,0 milhões

Investimentos de infraestrutura de tecnologia

Os investimentos em infraestrutura de tecnologia para 2022 totalizaram US $ 186,5 milhões.

Categoria de infraestrutura	Valor do investimento ($ M)
Infraestrutura em nuvem	67.3
Segurança de rede	52.9
Atualizações da plataforma digital	66.3

Despesas de marketing e vendas

As despesas de marketing e vendas em 2022 foram de US $ 445,6 milhões.

• Campanhas de marketing global: US $ 156,2 milhões
• Compensação da equipe de vendas: US $ 189,4 milhões
• Feira de feira e marketing de eventos: US $ 100,0 milhões

Taxas regulatórias de conformidade e licenciamento

As despesas totais de conformidade regulatória e licenciamento em 2022 foram de US $ 93,7 milhões.

Categoria de conformidade	Despesa ($ m)
Taxas de licença de jogo	47.3
Conformidade regulatória	36.4
Legal and Consulting	10.0

International Game Technology plc (IGT) - Modelo de negócios: fluxos de receita

Vendas de máquinas para jogos

Em 2022, a IGT reportou receita de vendas de máquinas de jogos de US $ 1,2 bilhão. A empresa vendeu aproximadamente 8.500 máquinas de jogos globalmente durante o ano fiscal.

Tipo de máquina	Unidades vendidas	Receita ($ m)
Máquinas de caça -níqueis de cassino	6,200	$850
Máquinas de videowoker	1,500	$250
Máquinas de jogos especiais	800	$100

Licenciamento de software para jogos

A IGT gerou US $ 475 milhões com o licenciamento de software para jogos em 2022, com acordos de licenciamento cobrindo 35 países.

• Receita de licenciamento de jogos digitais: US $ 275 milhões
• Receita de licenciamento de jogos físicos: US $ 200 milhões

Taxas de assinatura da plataforma digital

A receita de assinatura da plataforma digital atingiu US $ 350 milhões em 2022, com 220 clientes da plataforma digital em todo o mundo.

Tipo de plataforma	Assinantes	Receita ($ m)
Plataformas de cassino online	120	$200
Plataformas de apostas esportivas	65	$100
Sistemas de gerenciamento de loteria	35	$50

Royalties de conteúdo de jogos

A renda de royalties da IGT totalizou US $ 225 milhões em 2022, derivada do uso de conteúdo de jogos em várias plataformas.

Serviços de Suporte e Manutenção Técnicos

Os serviços de suporte e manutenção técnicos geraram US $ 400 milhões em receita durante 2022.

Categoria de serviço	Receita ($ m)
Manutenção de hardware	$250
Suporte de software	$100
Serviços de consultoria	$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.