International Game Technology PLC $(IGT)$ reported its financial results for the first quarter ending March 31, 2025. The company recorded an income from continuing operations of $8 million, a significant decrease compared to $116 million in the prior year period. This decline was primarily influenced by a $33 million non-cash impact of foreign exchange translation and lower operating income. The Adjusted EBITDA for the quarter stood at $250 million, with an Adjusted EBITDA margin of 42.8%, showcasing the profitability of the company's lottery business. Despite challenges such as lower U.S. multi-state jackpot activity and the timing of product sales, global sales of instant tickets and draw games continued to expand, driven by ongoing game innovation and portfolio optimization strategies. IGT's financial condition remains strong, with robust cash conversion and ample liquidity to support important contract renewals. The company noted that due to lower U.S. multi-state jackpot activity and a worsening macroeconomic environment, it anticipates being at the lower end of its full-year revenue and Adjusted EBITDA guidance provided earlier in February.