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Brightstar Lottery Reports Second Quarter 2025 Results
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.
The post Brightstar Lottery Reports Second Quarter 2025 Results appeared first on European Gaming Industry News.
- First F1® Allwyn Global Community Award sees local Dutch initiative presented with the trophy and €100,000 donation from Allwyn to support its impact on the local community
- Winner has been recognised for its local community contribution through transforming event accessibility for those with disabilities
Zandvoort, Netherlands, 15:00 CET 28 August 2025: Allwyn, the multi-national lottery-led entertainment company, and Formula 1 have announced Stichting HandicapNL as the winner of the inaugural F1® Allwyn Global Community Award and a €100,000 donation from Allwyn. The donation will be used to further the winner’s positive impact – breaking down barriers by improving event accessibility. From extra facilities to offering specialised information, the foundation provides support across the entire event experience – helping the two million people with disabilities in the Netherlands and creating a more inclusive society.
The Award recognises the outstanding contributions to society that F1-linked initiatives are making in their country. Taking the international spotlight ahead of the Formula 1® Heineken Dutch Grand Prix, the local Dutch community initiative won over the panel of judges with the impressive impact that it has made not just in the world of F1, but in the wider community in the Netherlands. Over the next 12 months, the donation will enable Stichting HandicapNL to increase the number of events it supports, so that more people can access and inclusively attend from start to finish, regardless of their disability.
The F1® Allwyn Global Community Award, created as part of the multi-year partnership between Formula 1 and Allwyn, reflects a shared commitment to driving positive change and giving back to the communities in which they operate. During the 2025 season, a total of four local initiatives making a positive impact in their countries – which could include advancements in education, culture, wellbeing and sustainability – will be chosen by judges to each win a €100,000 donation from Allwyn and the chance to visit a Formula 1 Grand Prix.
Three further winners will be announced this season, with local initiatives to be recognised at the home of Formula 1 races in the US (Austin and Las Vegas) and Mexico.
Jan Karas, CEO of OPAP, part of Allwyn, and F1® Allwyn Global Community Award judge said: “Stichting HandicapNL’s impact here in the Netherlands is truly inspiring. At Allwyn, we want to bring fun and entertainment to as many people as possible – no one should have to face a physical barrier in doing so. Stichting HandicapNL’s work is not just improving accessibility for F1 fans, but is providing learnings that can be applied to different types and scales of events outside of the F1 environment.”
Emily Prazer, Chief Commercial Officer, Formula 1 said: “The F1 Allwyn Global Community Award is a perfect example of how Formula 1 can use partnerships to enact real change in the communities where it races. This unique collaboration has created a global platform to celebrate the fantastic local initiatives that go above and beyond to make a real difference. Stichting HandicapNL has helped transform experiences for many people living in the Netherlands, and the F1 Allwyn Global Community Award will help them to continue to expand their vital works and help people across the country.”
F1® Allwyn Global Community Award winner Jan Willem Koopman from Stichting HandicapNL, said: “Our ultimate goal is that it becomes commonplace for people with disabilities to access and inclusively attend a whole festival or event, from start to finish. It has been fantastic working with Formula 1 at Zandvoort to make this track as accessible as possible and, thanks to this Award, we can expand our operations. The donation from Allwyn will mean we can make four additional events more accessible, support a further six events with advice and assistance and develop new partnerships with like-minded organisations. It will also have a lasting impact in the long term, empowering even more people to attend events, challenging negative perceptions and creating a more inclusive society.”
The F1® Allwyn Global Community Award is being presented at the following Grands Prix in 2025:
- Formula 1® Heineken Dutch Grand Prix 2025 – 29 – 31 August 2025
- Formula 1® MSC Cruises USA Grand Prix 2025 – 17- 19 October 2025
- Formula 1® Gran Premio De La Cuidad De Mexico 2025 – 24 – 26 October 2025
- Formula 1® Heineken Las Vegas Grand Prix 2025 – 20 – 22 November 2025
The post Disability Initiative Wins Inaugural F1® Allwyn Global Community Award appeared first on European Gaming Industry News.
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Gaming Platform, Overwolf, Sees 385% Revenue Surge in EU, Hires Activision Blizzard Vet For Expansion
Overwolf Expands European Presence with Former Activision Blizzard Executive to Accelerate Brand Partnership Growth Business has grown by 385% since entering the EU market one year ago.
Overwolf Ads, a world-leading platform empowering brands and advertisers to reach over 100 million monthly gamers, today announced the expansion of its European operations with the appointment of Adam Davis as Director of Brand Partnerships. This strategic hire supports Overwolf’s continued growth in the region and its mission to help brands engage with hard-to-reach gamers directly during gameplay.
Overwolf’s ad platform enables brands to reach gamers across premium titles like Minecraft and Fortnite, using a proprietary ad tech solution that provides advertisers with immersive yet non-intrusive placements. The company is currently ranked as the #2 biggest US Gaming Property by Comscore in terms of reach, with its influence across EMEA regions gaining momentum in 2025, now listed #3 in Germany, #5 in France, and #7 in the UK. In the last year, the company has partnered with global brands and media agencies such as Armani, Lancôme, Verizon, Pepsico, Amazon, P&G, Skoda, PHD, Publicis, Havas, dentsu, Wavemaker and Mediacom.
With more than 15 years of experience in the digital and gaming industry, Davis previously served as Group Director of Agency Partnerships at Activision Blizzard and has held leadership roles at AOL, Unruly/News Corp, and Reach plc. He played a key role in helping bring the new Xbox Ads offering to market at Activision and comes with extensive knowledge of video advertising across both gaming and traditional publisher environments. At Overwolf, he will focus on growing strategic brand relationships and developing innovative ad solutions that balance the player experience with high-impact brand engagement.
Davis joins a growing European team that has driven 385% growth in revenue in the region since Overwolf expanded into the EU market in 2024. The team has launched successful major partnerships with brands such as Müller FRijj, whose “Just Feel The URjj Challenge” activation rewarded players for embracing fun and chaos over simply winning. The unique campaign ran across major titles like Fortnite and Rocket League, using Overwolf Ads’ innovative ad technology to deliver contextual real-time messaging and rewards during humorous missions that resonated with Gen Z gamers.
“Gaming is reshaping modern entertainment. More brands than ever are looking to gaming to accelerate their marketing efforts, but one consistent challenge is accessing top-tier titles at scale,” said Adam Davis, Director of Brand Partnerships at Overwolf. “At Overwolf, advertisers can reach gamers across popular titles like Call of Duty and Fortnite, all accessible under one roof, and I’m looking forward to changing what’s possible for advertisers in the space.”
“As our European growth gains momentum, Adam’s leadership and prior experience at Activision will be instrumental in scaling Overwolf’s presence and bringing more brands into the worlds where gamers play,” commented Uri Marchand, CEO of Overwolf.
This announcement comes on the heels of Overwolf Ads’ milestone revenue achievement of doubling ad revenue from $50 million in 2023 to $100 million in 2024, continuing its trajectory as a category leader in in-game advertising.
For more information about advertising with Overwolf, please visit overwolf.com/ads
The post Gaming Platform, Overwolf, Sees 385% Revenue Surge in EU, Hires Activision Blizzard Vet For Expansion appeared first on European Gaming Industry News.
SOFTSWISS wins the CGS Recife Awards 2025 for its flagship Game Aggregator, confirming its industry leadership as the largest content hub in iGaming, operating with 99.999% uptime across 24 regulated jurisdictions. Recognition in Latin America, where SOFTSWISS has achieved full product certification, further proves the product’s global dominance and commitment to delivering trusted solutions across key regulated markets.
The award recognises the best game aggregation platform in the Latin American iGaming market, celebrating leadership, innovation, and operational excellence. This recognition is especially important as it comes from Brazil, where all SOFTSWISS products have recently been certified, led by the Game Aggregator. It is the 7th international award for the Game Aggregator, highlighting the product’s dedication to delivering unmatched scale and stability.
The Game Aggregator is recognised as the industry leader because of measurable advantages that no other platform can match. Operating in 24 jurisdictions, the solution provides direct access to 35,000+ active playing games from 300+ providers with new releases appearing immediately in operators’ portfolios enabled by streamlined integrations.
Engagement features deliver proven growth. Its Tournament Tool increases average daily bets by 22% across the player base. Players who join tournaments place twice as many bets and wager 3 times more than others. Jackpot Aggregator campaigns on the Game Aggregator drive a 50% increase in turnover per user, making engagement mechanics a direct source of revenue.
The platform’s infrastructure is designed for continuous, fail-safe operation. Uptime reaches 99.999–100%, guaranteed by strict SLAs and backed with proactive system notifications. The system processes 7,000 requests and up to 100,000 database queries per second, with 99% of responses returned in under 100 milliseconds. This ensures operators never lose a session, a bet, or their players’ trust.
Beyond scale and engagement, the platform offers features that raise industry standards: AI-driven localisation for any market, deep analytics through the Ultimate Report Builder, and customisable game metadata for client-facing flexibility.
“We are honoured to receive the Best Game Aggregator Platform award at CGS Recife. This recognition shows the value of our commitment: a constantly growing game portfolio, wide market coverage, and unwavering platform reliability. For almost ten years, our team has been building a platform that not only delivers scale and stability but also drives measurable results,” added Tatyana Kaminskaya, Head of SOFTSWISS Game Aggregator.
The SOFTSWISS team will be available at SBC Lisbon 2025, Stand B160, to discuss the possibilities of the Game Aggregator.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 35,000 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Wins Best Game Aggregator Award in Latin America appeared first on European Gaming Industry News.
Disability Initiative Wins Inaugural F1® Allwyn Global Community Award
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