Summary
- Brightstar Lottery announced that it has completed the sale of its Gaming & Digital division.
- After its recent name change, Brightstar Lottery will now be listed on the NYSE under the ticker symbol BRSL.
- The company announced its intention to sell its Gaming & Digital division, planning to return $1.1 billion to shareholders and allocate $2.0 billion for debt reduction.
International Game Technology (IGT), a pioneering leader in the lottery industry operating as Brightstar Lottery, announced the completion of the sale of its Gaming & Digital division. The transaction was finalized on July 1, 2025, when a holding company owned by Apollo Global Management affiliates acquired Brightstar Lottery's Gaming & Digital business.
Brightstar Lottery trades under new NYSE ticker, unveils plans for debt reduction and shareholder return
Before completing the sale, IGT Lottery has rebranded itself as Brightstar Lottery. This change also impacts the company's trading symbol on the New York Stock Exchange. Starting July 2, 2025, Brightstar Lottery will trade under the new ticker symbol BRSL. Despite the change in its ticker symbol, the company has clarified that its CUSIP will remain unchanged, and current stockholders do not need to take any action. From the sale of its Gaming & Digital business, Brightstar Lottery received approximately $4 billion in net cash proceeds. In a company statement, a detailed plan for the allocation of these funds was outlined. According to the plan, Brightstar Lottery intends to return $1.1 billion to shareholders and use $2 billion to reduce debt. Additionally, $400 million will be allocated for general corporate purposes, while $500 million will be set aside for upcoming license payments in Italy.
Divesting its Gaming & Digital business, the company is positioned well for further growth
Vince Sadusky, CEO of Brightstar Lottery, discussed the completed sale of the company's Gaming & Digital division. This marks an exciting new chapter for the company, building on our long legacy of delivering responsible and sustainable solutions through our products, services, technology, and insights, he stated. Sadusky also commended the company's team for their dedication, innovation, and commitment to driving growth. Marco Sala, Executive Chair of Brightstar Lottery, commented, The sale of the Gaming & Digital business sets Brightstar up for an exciting future. He further explained that the company plans to use the revenue to reduce debt and provide substantial returns to shareholders. Sala also noted that part of the allocation will focus on growth investments to enhance value for shareholders. Last month, Michelle Carney, Vice President of Global Lottery Marketing at Brightstar Lottery, was honored with a place in the Lottery Industry Hall of Fame. Her decades of work in the lottery sector will be celebrated with her induction into the Class of 2025. The official induction ceremony will take place in September.
