Lottery company, Brightstar, concludes the sale of its Gaming and Digital sector assets
In a significant move, Brightstar Lottery, formerly known as IGT Lottery, has finalised the sale of its Gaming & Digital business, resulting in approximately $4.0bn in net cash proceeds for the company. The sale, completed on July 1, 2025, was acquired by a holding company owned by Apollo Global Management.
With the sale now finalised, Brightstar Lottery is set to embark on a new chapter. The company, now trading under the ticker symbol BRSL on the New York Stock Exchange, has outlined its plans for the proceeds from the sale.
Vince Sadusky, CEO of Brightstar Lottery, expressed his excitement about the completed sale, praising the company's team for their dedication, innovation, and commitment to growth. "We are thrilled with the successful completion of this sale," said Sadusky. "It marks a significant milestone in our journey and sets us up for an exciting future."
The company plans to deploy the sale proceeds primarily to reduce near-term debt by $2.0 billion and return $1.1 billion to shareholders through dividends and share repurchases. Marco Sala, Executive Chair of Brightstar Lottery, spoke about this allocation, stating, "We are committed to enhancing shareholder value and improving ongoing shareholder returns."
The debt reduction strategy includes the redemption of the 4.125% Senior Secured U.S. Dollar Notes due April 2026, the 3.500% Senior Secured Euro Notes due June 2026, and prepaying €300 million of Term Loan Facilities due January 2027. Additionally, $400m of the proceeds will be used for general corporate purposes, while $500m will be allocated for the funding of forthcoming license payments in Italy.
The shareholder return will consist of a $3.00 per share special cash dividend payable on July 29, 2025, to shareholders of record as of July 14, 2025, and a $500 million share repurchase authorization with a two-year program replacing the existing one.
Brightstar Lottery's Vice President of Global Lottery Marketing, Michelle Carney, was inducted into the Lottery Industry Hall of Fame last month. The official induction ceremony for Carney will take place in September.
The strategic outlook for Brightstar Lottery reflects a balance between debt reduction, shareholder return, and funding growth investments. This commitment to enhancing shareholder value and improving ongoing shareholder returns is a testament to the company's focus on its future as a focused lottery operator and technology provider.
In summary, Brightstar Lottery is using the sale proceeds to position itself for an exciting future, with a focus on debt reduction, shareholder return, and growth investments. The company's new ticker symbol, BRSL, represents a new beginning for Brightstar Lottery as it embarks on this next chapter.
- Despite the sale of its Gaming & Digital business, Brightstar Lottery, now trading as BRSL, intends to maintain a focus on lotteries, as evidenced by their commitment to funding growth investments.
- As part of its plans for the sale proceeds, Brightstar Lottery has allocated a portion of the funds for the future funding of casino-games and likely lotteries, given their focus, as they plan to allocate €300 million for forthcoming license payments in Italy.
