#London #United Kingdom #Apollo Global #IGT #Brightstar Lottery

Brightstar Lottery Completes Sale and Capital Return

International Game Technology (NYSE: IGT), operating as Brightstar Lottery, recently announced the successful completion of the sale of its Gaming & Digital business to a company held by Apollo Global Management. This landmark transaction took place on July 1, 2025, positioning Brightstar for a promising future.

Effective from July 2, 2025, Brightstar will trade on the New York Stock Exchange under the ticker symbol BRSL. The sale has significantly reshaped the company's financial standing, enabling a remarkable return of $1.1 billion to its shareholders. Marco Sala, Executive Chair of Brightstar, remarked that this strategy demonstrates the company’s dedication to enhancing shareholder value by balancing debt reduction with substantial capital returns.

Financial Impact

In total, Brightstar received around $4.0 billion in net cash proceeds from this strategic sale, which will be allocated as follows:

• - Debt reduction: $2.0 billion will be applied to meet existing debt obligations, focusing primarily on near-term maturities.

- This includes the complete redemption of certain senior secured notes scheduled for maturity in April and June 2026, as well as early repayments on Term Loan Facilities maturing in January 2027 and Revolving Credit Facilities due in July 2027.

• - Shareholder returns: The company declared a special cash dividend of $3.00 per share, which will be payable on July 29, 2025, to all common stockholders who are recorded as of July 14, 2025.
• - Share repurchase: A new, $500 million share repurchase program has been authorized to buy back shares over the next two years, replacing the company’s previous share repurchase program.
• - Licensing and operations: Additionally, funds are set aside for impending payments related to the Italy Lotto license and corporate operations.

This dual strategy of capital return and debt management underscores Brightstar's robust approach to financial health and shareholder engagement. According to Vince Sadusky, CEO, the sale is a pivotal moment for the company, reflecting their long-standing legacy of providing trustworthy and sustainable solutions in global lottery operations.

Looking Ahead

Brightstar aims to maintain a strong balance sheet, targeting a net debt leverage ratio at around 3.0 times, supported by solid cash flow projections. The company's strategy not only focuses on immediate financial returns but also emphasizes strategic growth investments to enhance long-term shareholder returns. The anticipated post-transaction costs and ongoing projects will contribute to a strong outlook for their future operations. As one of the leading players in the lottery industry, Brightstar confirms its commitment to delivering high-quality, sustainable solutions while upholding integrity and reliability in service.

With approximately 6,000 employees globally, Brightstar continues to build on its reputation as a premier provider of lottery services, with a strong emphasis on security, technology, and operational excellence. To learn more about Brightstar's products and initiatives, visit www.brightstarlottery.com.

Conclusion

The completion of this sale marks a new era for Brightstar Lottery, with not only a significant return to its shareholders but also a reaffirmation of its dedication to innovation, integrity, and community support. As the company moves forward under a new ticker symbol, the future looks promising, with solid prospects for growth and continued value creation for all stakeholders.