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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.
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Betano and Flamengo Seal Historic Principal Partnership

Partnership includes Men’s and Women’s football, Olympic sports, and Flamengo TV
Betano, one of the world’s largest online sports betting and gaming brands, has become the new principal and front-of-shirt partner of Clube de Regatas do Flamengo. The agreement, until the end of 2028, covers the men’s and women’s professional football teams, Olympic sports, and Flamengo TV.
With this partnership, Flamengo joins a select roster of major international clubs partnered with Betano, including F.C. Bayern München, Club Atlético River Plate, Aston Villa F.C., F.C. Porto, Sporting CP and SL Benfica, among others.
Flamengo, with one of the largest fan bases in the world and supporters spread across Brazil and beyond, was a natural fit for Betano. The club’s nationwide reach and passionate following were some of the key factors leading to the new partnership. For Flamengo, Betano is seen as the ideal partner to support its international expansion, with activations planned in both Europe and Latin America as part of the agreement. Equally important, Betano is a brand leading at the forefront of promoting responsible gaming, both in Brazil and across the international markets where it operates.
“Sponsoring Flamengo is a strategic decision that connects us with the largest and most passionate fan base in Brazil, strengthens our presence in the country and further expands our brand globally. We understand the responsibility this partnership carries and are committed to building a successful journey alongside the club,” said George Daskalakis, co-founder and CEO of Kaizen Gaming, operator of the Betano brand.
In addition to brand exposure through teams and athletes, the partnership also includes investment in social and sports development initiatives, reinforcing Betano’s and Flamengo’s commitment to creating a positive impact both on and off the field.
“This partnership with Betano is historic for Flamengo. Beyond being the biggest sponsorship in Brazilian football, it strengthens our projects across football and Olympic sports, supports our global expansion, and reinforces our commitment to our fans”, commented Luis Eduardo Baptista, President of Clube de Regatas do Flamengo.
The post Betano and Flamengo Seal Historic Principal Partnership appeared first on Gaming and Gambling Industry in the Americas.
Gambling in the USA
Scientific Games Wins Three 2025 International Business Awards for Supply Chain Sustainability and Technology Innovation

Global Lottery Technology Supplier Wins Sustainable Supply Chain Gold Award for National Logistics Centre in UK Serving The National Lottery
Scientific Games has been honored with three prestigious accolades in the 2025 International Business Awards, recognizing the company’s leadership in supply chain sustainability and cutting-edge lottery technology solutions.
The global lottery company earned the Gold Award for Sustainable Supply Chain for its National Logistics Centre in Warrington, UK serving The National Lottery’s vast network of 40,000+ retailers as a partner to Allwyn UK. Opened in February 2024 to support Allwyn on its journey of building a net zero National Lottery, the 92,000-square-foot facility integrates advanced, technology-driven sustainability practices, including AI-powered demand forecasting and inventory management technology, dynamic routing to minimize emissions, fully electric internal transport and zero-waste operations.
Scientific Games also received two Bronze Award recognitions in the 2025 International Business Awards:
- Achievement in Product Innovation for SCiQ, Scientific Games’ cutting-edge ecosystem that is transforming the way instant games are sold and managed. SCiQ delivers advanced inventory control, strengthened security and real-time sales data, providing retailers, lotteries and players with a smarter, more secure instant game experience.
- Emerging Technology Solution for PlayCentral Powered by SCiQ, which integrates the company’s groundbreaking SCiQ retail ecosystem into PlayCentral HD self-service vending machines, delivering unmatched inventory control, enhanced game security and operational efficiency.
“These honors reflect the dedication of our global teams to delivering both environmental leadership and unmatched retail innovation for our lottery partners,” said Pat McHugh, CEO of Scientific Games. “From transforming the sustainability of our supply chain in partnership with Allwyn in the UK to advancing the future of instant game retailing worldwide, we’re committed to creating positive impact for our customers, players and the communities they serve.”
More than 3,600 nominations from organizations in over 60 nations were evaluated by more than 300 professionals worldwide in this year’s IBAs.
Earlier this year, Scientific Games received two Gold Annual American Business Awards for SCiQ and PlayCentral Powered by SCiQ, in the Operations Management Solutions and Emerging Technology categories, respectively.
With operations on five continents, Scientific Games provides retail and digital games, technology, analytics and services to 150 lotteries in 50 countries worldwide.
PlayCentral HD® and SCiQ® are registered trademarks of Scientific Games. ©2025 Scientific Games, LLC. All Rights Reserved.
The post Scientific Games Wins Three 2025 International Business Awards for Supply Chain Sustainability and Technology Innovation appeared first on Gaming and Gambling Industry in the Americas.
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5 Reasons Mobile iGaming is Growing (and How to Earn from It)

Mobile iGaming isn’t a trend anymore—it’s the new default. With 96% of the world’s digital population accessing the internet via smartphones, operators can no longer treat mobile as a “nice to have.” On Atlaslive, most players already come through mobile, showing just how deep this shift has gone. So they have investigated the reasons for it.
5 reasons are driving the rise of mobile play:
- Smartphones & 5G: Affordable devices and low-latency connections make betting and live casino seamless.
- Mobile-first UX: Fingerprint login, in-game wallets, and scrollable lobbies remove friction.
- New market regulations: Markets like Brazil are now opening to licensed apps, unlocking millions of players.
- Frictionless payments: From Apple Pay to Brazil’s Biometric Pix, fast deposits are now a mobile-native feature.
- User behavior shifts: Millennials and Gen Z expect short, impulsive, on-the-go sessions—and mobile delivers.
Mobile iGaming has clearly become the main arena for user activity and revenue growth. To find out more and see how operators can improve engagement and drive revenue with mobile strategies, read the full article.
About Atlaslive
Atlaslive, formerly known as Atlas-IAC, underwent a rebranding campaign in May 2024. It is a B2B software development company that specializes in creating a multifunctional and automated platform to optimize the workflow of sports betting and casino operators. Key components of the Atlaslive Platform include Sportsbook, Casino, Risk Management and Anti-Fraud Tools, CRM, Bonus Engine, Business Analytics, Payment Systems, and Retail Module. Follow the company on LinkedIn to stay updated with the latest news in iGaming technology.
The post 5 Reasons Mobile iGaming is Growing (and How to Earn from It) appeared first on European Gaming Industry News.
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