The second-quarter revenue of Brightstar Lottery was $584 million, down 7% from $631 million year-on-year and was affected by the increase of the non-cash expenses connected to its Italy Lotto license and changing in business in the UK.
The company managed to get back in the profit mode from continuing operations with $56 million net result received in contrast to loss reported during the same period in prior year.
CEO Vince Sadusky said:
Better-than-expected second quarter profits were driven by global same-store sales expansion and disciplined operational management, even as we invest in long-term growth initiatives.
The main part of the lottery continued to show its sustainability in operation last quarter $517 million revenue from instant tickets and draw games was the same as last year, $17 million U.S. multi-state jackpot revenue was up 14% at the constant currency.
As for the global same stores sales of instant tickets and draw games, the 1.1% growth is seen, while total same stores sales rose by 1.5%. The U.S. sales were boosted by huge multi-state jackpot sales compared to the previous year.
However, the revenues were affected by the increased amortisation costs tied to the Italy Lotto license as they doubled from $53 million to $100 million as well as the decreased product sales that dropped from $42 million to $34 million.
The cash flow of Brightstar was highly affected by the last €1.43 billion ($1.67 billion) payment for the Italy Lotto licence completed in April, resulting in negative operating and free cash flow for the quarter.
Brightstar also continued to return capital to its shareholders, paying out more than $140 million year-to-date.
Brightstar has also confirmed 2026 full-year revenue in the range of $2.50B to $2.55B, which implies more than 5% organic growth, while adjusted EBITDA is expected to be $1.16B to $1.19B.