Business Context and Reporting Period
This Form 6-K filing by International Game Technology PLC (IGT) covers the month of May 2018, specifically dated May 22, 2018. The filing discloses a variable forward transaction entered into by IGT's majority shareholder, De Agostini S.p.A., with Credit Suisse International. Note: The request metadata lists "Brightstar Lottery PLC," but the filing text explicitly identifies the registrant as International Game Technology PLC.
Key Financial Metrics
The filing does not report operational financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity for the period. The document focuses exclusively on a shareholder transaction. Key transaction figures include:
- Shares involved in variable forward: 18,000,000 IGT ordinary shares.
- Shares borrowed for hedging: Approximately 13,200,000 IGT ordinary shares.
- Proceeds to IGT: None. IGT is not a party to the transaction and will not receive proceeds.
Material Changes Versus Prior Period
There are no material changes to IGT's financial statements, share count, or dividend payments resulting from this transaction. The filing explicitly states there is no impact to the income statement, balance sheet, or cash flows. The transaction is a secondary market activity between the majority shareholder and a financial institution, not a primary issuance by the company.
Guidance, Outlook, and Risks
The filing contains no new financial guidance or operational outlook. It includes a standard cautionary statement regarding forward-looking statements, noting that actual results may differ materially from predictions due to various risks. These risks are referenced as being detailed in IGT's annual report on Form 20-F for the year ended December 31, 2017. The filing clarifies that IGT does not assume an obligation to update forward-looking statements except as required by law.
Important Facts for Investor Verification
- IGT is not issuing new shares; the transaction involves existing shares held by De Agostini S.p.A.
- The sale of shares by Credit Suisse is a hedging mechanism for the variable forward transaction and does not generate capital for IGT.
- There is no immediate financial impact on IGT's balance sheet, income statement, or cash flow.
- Investors should verify the full details of the variable forward transaction in Exhibit 99.1 and the related prospectus supplement.