The international iGaming industry has given a resounding endorsement of iGB L!VE 2025 with visitation hitting a record 20,227 a figure that’s 16% up on the previous high of 17,498 which was set in 2024.

iGB L!VE also underlined its stellar international credentials with attendees travelling to the show’s new London home from 149 nations, up from the 2024 figure of 131.

Reflecting on the industry’s electric response to iGB L!VE London, Jody Frost, Clarion Gaming’s Head of Marketing and Brand said: “iGB L!VE 2025 was an unforgettable experience setting new records in its new London location. The UK capital city is the birthplace of iGaming and the relocation to ExCeL London was undertaken to enable the show to continue to grow and in the process create a sustainable Tier 1 event which consistently meets the needs of the global iGaming ecosystem that it serves.

“According to the independent data iGaming professionals from an amazing 149 nations harnessed the unique energy of iGB L!VE to cultivate partnerships, embrace innovation, gain a competitive edge and drive business growth. As preparations get underway for the 2026 edition we will continue to work in partnership with the industry notably our Vendor and Visitor Advisory Boards in order to identify those areas where we can improve and ensure that iGB L!VE continues to address the needs of all of our international stakeholders bringing together operators, affiliates, suppliers, and iGaming providers for an unmatched networking experience.”

The importance of iGB L!VE’s relocation to London and the show’s ability to deliver the right audience was key for stakeholders. Märit von Stedingk, Head of Marketing at Alea confirmed: “My God, was this event all about connections and reconnections? The show was so busy I was on the booth all of the time. Was iGB Live 2025 worth it? A big resounding yes both personally and from a business standpoint. London stays a highlight in our gaming calendar”.

Her view was endorsed by Soft2Bet’s Chief Business Development Officer Martin Collins who posted: “London in July proved itself. The event brought together one of the most geographically diverse crowds I’ve seen. It’s clear: iGaming’s future isn’t European, it’s everywhere.”

Joshua Gamble, Managing Director, ActiveWin Marketing shared: “You’ll find a perfect mix of affiliate partners, operators, and suppliers, all in one place, which makes it incredibly efficient for forging new partnerships and strengthening existing ones. The content is sharp and relevant, the atmosphere is energetic, and the event consistently delivers tangible ROI—not just in leads, but in insights that shape your strategy for the year. It’s a key fixture on the calendar because the quality of attendees and conversations is unmatched.”

His assessment was echoed by Sita Mamidanna, Head of Customer Success Management at CDNetworks:“Based on my experience attending this event, I would certainly recommend it to friends and colleagues, especially those involved in the iGaming sector, whether as distributors, affiliates, operators, technology providers, or those considering entry” she stated. “While networking is a key element, the event is more about the energy, innovative ideas, and genuine relationships you develop. It offers opportunities to meet industry leaders, discover emerging technologies and trends before they reach the mainstream, and gain a deeper understanding of market directions. I always leave with new insights and valuable contacts. This event delivers real value, not just a pile of business cards.”

iGB L!VE 2026 will take place across 1st – 2nd July at ExCeL London.

Brightstar Lottery PLC has reported the financial results for the second quarter ended June 30, 2025.

“We achieved several important milestones over the last few months. We secured the Italy Lotto license through November 2034, closed the sale of our Gaming & Digital business for $4 billion in cash, and announced plans to return significant capital to shareholders. With a singular focus on lottery and unmatched industry expertise, we are well positioned to create value for all stakeholders with our mission to elevate lotteries and inspire players around the world,” said Vince Sadusky, CEO of Brightstar.

“Our second quarter results reflect sustained global demand for instant ticket and draw games. We are investing in key initiatives to drive sustainable, long-term growth, while also delivering structural cost reductions to right-size the business. The Company’s attractive profit profile and strong, predictable cash flows support our balanced approach to capital allocation,” said Max Chiara, CFO of Brightstar.

Key Highlights

• Successful completion of Gaming & Digital sale for approximately $4.0 billion of net cash proceeds on July 1, 2025.

• Secured several meaningful contract wins and extensions including a nine-year Lotto operator license in Italy, an eight-year contract in Missouri which includes a fully-integrated OMNIA retail and digital solution, and several multi-year instant ticket printing contract extensions.

• Expanding OPtiMa 3.0 cost reduction programme to $50 million to right-size the business following the Gaming & Digital sale.

Second Quarter 2025 Financial Highlights

Second quarter revenue was $631 million, up 3% or stable at constant currency.

• Instant ticket & draw same-store sales increased across geographies with Italy increasing 3.7%, U.S. higher by 0.6%, and Rest of World climbing 8.4%.

• Product sales rose 59% on higher instant ticket printing and terminal sales.

• Foreign currency translation had a positive impact on growth.

• Growth from the drivers above was partially offset by elevated U.S. multi-state jackpot activity and associated LMA incentives in the prior year.

Loss from continuing operations was $60 million compared to income from continuing operations of $84 million in the prior year period.

• Incurred a foreign exchange loss versus a foreign exchange gain in the prior year, primarily reflecting the non-cash impact of fluctuations in the EUR/USD exchange rate on debt.

• Operating income was lower, driven by the high profit flow-through from elevated U.S. multi-state jackpot sales and associated LMA incentives in the prior year and restructuring charges related to the expanded OPtiMa 3.0 cost reduction programme in the current year.

• Increased provision for income taxes.

• Dynamics noted above were partially offset by reduced interest expense.

Adjusted EBITDA was $274 million compared to $290 million in the prior-year period, demonstrating resiliency despite incremental investments in the business and multi-state jackpot and LMA dynamics.

• Prior year results include the high profit flow-through from elevated U.S. multi-state jackpot sales and associated LMA incentives.

• Selling, general, and administrative costs were modestly higher as ongoing investments in the business were partially offset by OPtiMa cost savings.

• The Q2’25 period benefited from positive foreign currency translation.

Diluted loss per share from continuing operations was $0.47 compared to diluted earnings per share from continuing operations of $0.21 in the prior year. Adjusted diluted earnings per share from continuing operations was $0.12 compared to $0.20 in the prior year, primarily driven by lower operating income.

YTD 2025 Financial Highlights

Year-to-date revenue of $1.2 billion compares to $1.3 billion in the prior-year period.

• The decline was due to higher U.S. multi-state jackpot activity and associated LMA incentives in the prior year.

• Global instant ticket & draw same-store sales rose 1.2%.

Loss from continuing operations was $52 million compared to income from continuing operations of $200 million in the prior year period.

• Lower operating income, primarily due to the items affecting Adjusted EBITDA as noted below.

• Foreign exchange loss versus foreign exchange gain in the prior year, primarily reflecting the non-cash impact of fluctuations in the EUR/USD exchange rate on debt.

Adjusted EBITDA of $524 million compares to $617 million in the prior-year, primarily driven by high profit flow-through from elevated U.S. multi-state jackpot sales and associated LMA incentives in the prior year, partially offset by positive foreign currency translation.

Diluted loss per share from continuing operations was $0.59 compared to diluted earnings per share from continuing operations of $0.56 in the prior year. Adjusted diluted earnings per share from continuing operations of $0.20 compares to $0.47 in the prior year primarily driven by lower operating income, partially offset by reductions in net interest and income tax expense.

Net debt was $5.2 billion compared to $4.8 billion at December 31, 2024. The increase was primarily driven by an approximate $340 million impact from fluctuations in the EUR/USD exchange rate. Net debt leverage was 3.0x pro forma for $2 billion debt reduction completed in July.

Cash and Liquidity Update

Total liquidity was $2.9 billion as of June 30, 2025 with $1.3 billion in unrestricted cash and $1.6 billion in additional borrowing capacity from undrawn credit facilities.

Other Developments

The Company plans to launch a $250 million accelerated share repurchase programme (ASR) by entering into an accelerated share repurchase agreement with a counterparty bank. The Company plans to execute the ASR as part of its $500 million share repurchase authorization outlined below and in accordance with the share repurchase authorisation provided by the Company’s shareholders at the Company’s 2025 Annual General Meeting. The Company has been informed by De Agostini S.p.A., that it does not intend to participate in the ASR.

The Company’s Board of Directors declared a quarterly cash dividend of $0.20 per common share with a record date of August 12, 2025 and a payment date of August 26, 2025.

Completed the sale of the Gaming & Digital business on July 1, 2025. The Company received approximately $4.0 billion of net cash proceeds that are expected to be allocated in the following manner:

$2.0 billion used to reduce debt (completed in July 2025).

• Redeemed in whole the 4.125% Senior Secured U.S. Dollar Notes due April 2026 and the 3.500% Senior Secured Euro Notes due June 2026.

• Prepaid €300 million of the Term Loan Facilities due January 2027.

• The remaining amount was allocated to prepay the Revolving Credit Facilities due July 2027.

$1.1 billion to be returned to shareholders.

• The Company’s Board of Directors declared a special cash dividend to common shareholders in the amount of $3.00 per share. The record date of the distribution was July 14, 2025, and it is payable July 29, 2025.

• In addition, the Board authorized a $500 million, two-year share repurchase programme. The new authorisation replaces the Company’s existing share repurchase programme.

$500 million to partially fund upcoming Italy Lotto license payments.

$400 million to be used for general corporate purposes.

The U.S. federal income tax consequences of distributions by the Company will depend, in part, on whether the Company has current or accumulated earnings and profits (“E&P”), as determined under U.S. federal income tax principles. Based on preliminary estimates, the Company does not expect to have current E&P for fiscal year 2025 or accumulated E&P from prior fiscal years that would offset the current year expected E&P deficit. Accordingly, the Company anticipates that the special dividend, the Q1 dividend paid on June 12, and any future dividends paid in the current fiscal year will be treated for U.S. income tax purposes as a non-taxable return of capital to the extent of a shareholder’s basis in its shares, and thereafter as capital gain, although no assurances can be provided because the determination of E&P is a full-year calculation which depends upon facts that are not known as of the date hereof.

FY’25 Outlook: Adjusted EBITDA Reaffirmed, Cash Flow Improved

• Revenue of approximately $2.50 billion; adjusting revenue down $50 million compared to the previous outlook to reflect a timing shift in product sales and increased amortization related to Italy Lotto upfront license fee (which is treated as contra-revenue).

• Adjusted EBITDA of approximately $1.10 billion, in line with the previous outlook as incremental benefit from foreign currency translation is offset by higher-than-expected U.S. multi-state jackpot and LMA impacts.

• Net cash used in operating activities of approximately $275 million reflects a $75 million improvement versus the previous outlook driven by interest, income taxes, and other working capital items.

• Capital expenditures of approximately $375 million, a $75 million improvement from the previous outlook to reflect timing shifts related to recent contract extensions.

• Increasing FY’25 EUR/USD assumption to 1.12.

Dodo, the newest player in the iGaming space, officially launches as a dedicated network built entirely around the fast-rising crash and instant games. Created to meet rising player demand, it offers top game reviews, trusted casino listings, and free demo play—all in one place.

Dodo answers a clear market need: a centralized destination designed specifically for crash gaming enthusiasts. Dodo network spans 8 specialized verticals: CrashDodo, WheelDodo, CoinflipDodo, DiceDodo, HiloDodo, LimboDodo, MinesDodo, and PlinkoDodo—each dedicated to a specific instant game format.

“We created Dodo because it was time for a site that treats crash games as a category of their own — not a subgenre or a passing trend. With the format’s rise in popularity, players need a dedicated space where they can explore, compare, and play,” said Ethan Thompson, content lead at Dodo.

Dodo also reflects a wider trend—the growing intersection of crash mechanics and crypto gambling. As localisation and hybrid formats expand, Dodo steps in as a natural platform for discovery, guidance and connection between players and operators.

Dodo’s Key Features:

• Curated crash and instant game selections with a free play option

• Game reviews, expert tips, and easy-to-follow player guides

• Trusted casino listings tailored for crash games fans

• Designed with crypto players in mind, offers crypto-related insights.