International Game Technology PLC (NYSE:IGT) Q1 2022 Earnings Conference Call May 10, 2022 8:00 AM ET

Company Participants

James Hurley - Senior Vice President, Investor Relations

Vince Sadusky - Chief Executive Officer

Max Chiara - Chief Financial Officer

Conference Call Participants

Carlo Santarelli - Deutsche Bank

Chad Beynon - Macquarie

Barry Jonas - Truist Securities

Ben Chaiken - Credit Suisse

Domenico Ghilotti - Equita

Jeff Stantial - Stifel

David Katz - Jefferies

Zachary Silverberg - Berenberg Capital Markets

Operator

Good day and thank you for standing by. Welcome to International Game Technology Q1 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, James Hurley, Senior Vice President of Investor Relations. Please go ahead.

James Hurley

Thank you for joining us on IGT's first quarter 2022 conference call, hosted by Vince Sadusky, Chief Executive Officer; and Max Chiara, our Chief Financial Officer. After some prepared remarks, Vince and Max will be available for your questions. We are presenting from multiple locations, so please bear with us if we encounter any technical difficulties.

During today's call, we will be making some forward-looking statements within the meanings of the Federal Securities Laws. Forward-looking statements are not guarantees and our actual results may differ materially from those expressed or implied in the forward-looking statements based on a number of factors and uncertainties, including those related to the effects of the COVID-19 pandemic. The principal risks and uncertainties that could cause our results to differ from our current expectations are detailed on our latest earnings release and in our SEC filings.

During this call, we may discuss certain non-GAAP financial measures. In our press release, the slides accompanying this webcast, and our filings with the SEC, each of which is posted on our Investor Relations website, you will find additional disclosures regarding these non-GAAP measures, including reconciliations of these measures with comparable GAAP measures.

And now, I will turn the call over to Vince Sadusky.

Vince Sadusky

Thanks Jim and hello to everyone for joining us today. 2022 is off to a strong start with a terrific first quarter. Our strategy to grow, innovate, and optimize is delivering results as revenue grew 7% at constant FX, above the targeted 22% to 25% range disclosed on Investor Day, driven by the strong gaming and lottery product sales.