Light & Wonder, Inc. · ASX:LNW
Light & Wonder — Scientific Games — Q3 2013 Earnings Presentation
12 slides from Light & Wonder's earnings presentation, Nov 7, 2013
Slide 1: Third Quarter 2013 Earnings Presentation
Third Quarter 2013 Earnings Presentation November 7, 2013 Scientific Games
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward - Looking Statements and Non - GAAP Financial Measures 2 Forward - Looking Statements: Throughout this presentation the Company makes “forward - looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward - looking statements describe future e
Slide 3: Q3 Results: Financial Summary
(1) EBITDA from equity investments, as used herein, represents our share of the EBITDA (i.e., earnings (whether or not distributed to us) plus income tax expense, depreciation and amortization expense and interest (income) expense, net of other) of our equity investees. EBITDA fro m equity investmen
Slide 4: Q3 Results: Key Highlights
Q3 Results: Key Highlights 4 ▪ Revenue increased $9.8 million to $234.4 million driven by Printed Products and Lottery Systems growth ▪ Operating income increased 55%, or $9.2 million, to $25.7 million, primarily reflecting improvements in Printed Products and Gaming o Incurred professional fees and
Slide 5: Attributable EBITDA
Attributable EBITDA ($ in millions) 5 (1) Attributable EBITDA, as used herein, is based on the definition of "consolidated EBITDA" in our credit agreement (summarized in our November 7, 2013 press release), except that attributable EBITDA as used herein includes our share of the EBITDA of all of our
Slide 6: Capital Structure as of 9/30/13
Capital Structure as of 9/30/13 6 ▪ Cash and cash equivalents of $73.5 million ▪ Availability under revolving credit facility of $210.3 million ▪ Total debt of $1,459.1 million ▪ On October 18, 2013, entered into a new $2.6 billion senior secured credit facility in connection with the acquisition of
Slide 7: Q3 Key Performance Indicators
Q3 Key Performance Indicators U.S. Lottery Customers’ Retail Sales Y/Y Δ China Sports Lottery Instant Ticket Retail Sales Y/Y Δ Italy Instant Ticket Retail Sales Y/Y Δ Global Draw U.K. Betting Shop Performance Y/Y Δ Terminals 18,405 19,123 (1) Represents the average amount bet less player winnings,
Slide 8: New Contracts and Contract Extensions
New Contracts and Contract Extensions 8 ▪ In October 2013, Northstar New Jersey commenced operations, providing instant games, lottery systems and equipment, and related services for the New Jersey Lottery ▪ Scientific Games began providing instant games to the Panama National Lottery in October 201
Slide 9: Printed Products
Printed Products ($ in millions) 9 ▪ Licensed properties revenue growth primarily reflects new contract signings, promotional games and multi - game agreements ▪ Revenue growth from POS and CSP customers principally reflects higher retail sales in U.S. and Europe ▪ Decline in revenue from price per
Slide 10: Lottery Systems
Lottery Systems ($ in millions) 10 ▪ Equipment sales revenue growth primarily represents increased sales of hardware and software to international customers ▪ Increase in service revenue principally reflects the benefit of higher international service revenue and two large Powerball ® jackpots ▪ Inc
Slide 11: Gaming
Gaming ($ in millions) 11 ▪ Service revenue declined slightly as weather - related and economic conditions impacted player activity leading to a 4.7% decrease in gross win, partially offset by an ~1,400 unit increase in the installed base of U.K. server - based gaming terminals to ~19,850 units at q
Slide 12: Earnings Analysis
Earnings Analysis 12 2013 2013 2012 ($ in millions, except for EPS) Description Segment Income Statement Line Impacted Impact on Reported EPS Debt-related fees and charges Write-off of deferred financing costs in connection with debt refinancing in Q3'12 Corporate Other Income/Expense - $ 15.5 - (0.