Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025. · NYSE:BRSL
Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025 — Brightstar Lottery — Q3 2025 Earnings Presentation
39 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Nov 4, 2025
Slide 1: Q3 Earnings Report 2025: Period Ended September 30, 2025
Q3 Earnings Report 2025: PERIOD ENDED SEPTEMBER 30, 2025
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
2 Cautionary Statement Regarding Forward-Looking Statements This presentation may include forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning the Company and other matters. These statements may discuss goals, intentions, and ex
Slide 3: Contents
Contents BRIGHTSTAR EARNINGS REPORT – Q3’253 03 Q&A04 Appendix 01 Strategy Update 02 Financial Results 05 Investor Update
Slide 4: Strategy Update
01 Strategy Update BRIGHTSTAR EARNINGS REPORT – Q3’254
Slide 5: Better-than-expected Q3'25 Revenue & Profit; Significant Shareholder Returns in FY'25
Better-than-expected Q3’25 Revenue & Profit; Significant Shareholder Returns in FY’25 01 STRATEGY UPDATE Acceleration of Same-store Sales Growth in Q3’25 $1.8B YTD Revenue driven by sustained momentum in core instant ticket & draw game sales ~$1B in FY’25 Shareholder Returns +10% increase in Q4’25 d
Slide 6: Significant Acceleration in Q3'25 Global Same-store Sales
BRIGHTSTAR EARNINGS REPORT – Q3’256 Significant Acceleration in Q3’25 Global Same-store Sales Fueled by Key Product Initiatives Same-store Sales (SSS) Trends 01 STRATEGY UPDATE SSS Q1’25 Q2’25 Q3’25 YTD’25 U.S. Instants & Draw Multi-state Jackpots (6.9%) (1.3%) (46.1%) (2.7%) 0.6% (34.5%) 7.7% 1.6%
Slide 7: Spotlighting Next Generation of Future-Forward Solutions
Spotlighting Next Generation of Future-Forward Solutions 01 STRATEGY UPDATE 7 BRIGHTSTAR EARNINGS REPORT – Q3’25 12th EL Congress: Bern, SwitzerlandNASPL 2025 Conference: Niagara Falls, Ontario
Slide 8: Financial Results
02 Financial Results BRIGHTSTAR EARNINGS REPORT – Q3’258
Slide 9: Summary of Q3'25 Financial Results
02 FINANCIAL RESULTS Summary of Q3’25 Financial Results BRIGHTSTAR EARNINGS REPORT – Q3’259 Note: EUR/USD FX daily average 1.17 in Q3’25, 1.10 in Q3’24, 1.12 YTD Q3’25, 1.09 YTD Q3’24 Amounts in millions unless otherwise noted *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the mo
Slide 10: Q3'25 Revenue Growth Driven by Strong Same-store Sales
Q3’25 Revenue Growth Driven by Strong Same-store Sales Across Jurisdictions & Game Types 10 02 FINANCIAL RESULTS Revenue 284 304 228 244 257 75 67 69 Q3’24 Instant Ticket & Draw U.S. Multi- state Jackpots Other Service & Upfront License Fee Amortization Product Sales Excluding FX FX Q3’25 587 615 62
Slide 11: High Flow-through of Wager-based Revenue Growth Propels Q3'25 Profit Increase
Revenue Revenue Income/(Loss) from Continuing Operations Adjusted EBITDA High Flow-through of Wager-based Revenue Growth Propels Q3’25 Profit Increase 02 FINANCIAL RESULTS BRIGHTSTAR EARNINGS REPORT – Q3’2511 Amounts in $ millions, unless otherwise noted 264 283 294 G&A +$12M Q3’24 Service Gross Mar
Slide 12: Significant Debt Reduction & Shareholder Returns YTD; Strong Financial Profile
Significant Debt Reduction & Shareholder Returns YTD; Strong Financial Profile BRIGHTSTAR EARNINGS REPORT – Q3’2512 02 FINANCIAL RESULTS Note: cash flow results reflect continuing operations *Non-GAAP measure; see disclaimer on page 2 and reconciliations to the most directly comparable GAAP measures
Slide 13: Reaffirming FY'25 Revenue and Profit Outlook
13 02 FINANCIAL RESULTS *A reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable effort. This is due to the inherent difficulty of accurately forecasting the occurrence and financial impact of
Slide 14: Q3'25
03 Investor Update BRIGHTSTAR EARNINGS REPORT – Q3’2514
Slide 15: We are the premier pure play global lottery company
We are the premier pure play global lottery company: → Premier global lottery operator (B2C) - largest based on combined wagers → Providing secure, comprehensive lottery technology and solutions to ~90 customers on six continents (B2B) For nearly 50 years, our innovative products and services have h
Slide 16: The future is Brightstar: Why Invest
16 The future is Brightstar Global Leadership in Large, Growing Industry Growing, Resilient Business with High Contractual Recurring Revenue Significant Tailwind from Broader iLottery Adoption Attractive Profit Profile & Strong, Predictable Cash Flows Balanced Capital Allocation Strategy Includes In
Slide 17: Strong leadership position and financial profile
17 Strong leadership position and financial profile ~90 Global customers Unique B2B and B2C Business offering ~30 years Typical customer relationship 10+ years Average service contract length ~97% U.S. FM and Italy Operator contracts renewal rate over last 15 years(1) ~78% / ~90% US Lottery Systems
Slide 18: Compelling investment opportunity driven by unique competitive positioning
18 Compelling investment opportunity driven by unique competitive positioning Management team With unparalleled depth of experience in the Industry Market Opportunity Large, growing & resilient global lottery industry, with long-term contracts requiring specialized expertise Market Leadership Pure-p
Slide 19: Growing and resilient industry where incumbency has significant value
19 Growing and resilient industry where incumbency has significant value 20 08 20 09 20 10 20 20 20 21 20 22 20 23 20 24 20 25 E 20 26 E 20 27 E 20 28 E 20 07 195 203 210 214 366 373 385 399 414 431 +2.8% +3.9% +3.6% The global lottery industry has grown consistently through macroeconomic uncertaint
Slide 20: Well positioned to maintain largest contracts, with opportunities for growth
20 Brightstar is well positioned to maintain largest contracts, with significant opportunities for incremental growth 60% 11% 29% >70% of Brightstar FM & Operator contract sales secured or with extensions possible beyond 2028 ~97% of U.S. FM and Italy Operator contracts have been retained over the p
Slide 21: Attractive global digital market opportunity
21 Attractive global digital market opportunity; Brightstar poised to continue growing market share in platform and content U.S. digital channel is an underpenetrated yet growing market… (1) Excludes states that have passed legislation but iLottery is not active (e.g., MA, MO) and jurisdictions with
Slide 22: iLottery to enable the next stage of Italy's growth
22 iLottery to enable the next stage of Italy’s growth by leveraging extensive retail player base Italy Player Pool (retail & online) Lotto players represent 42% of total Italian players, on any game across retail & digital S&W players represent 75% (1) GGY is wagers less winnings paid to players So
Slide 23: Organic growth expected to accelerate to >5% in 2025-2028 period
23 Organic growth expected to accelerate to >5% in 2025-2028 period Core Business(1) iLottery Italy B2C Expansion All Other Organic Growth (CAGR) Impact from Incremental Amortization of Lotto License Fee(2) Revenue Growth (CAGR) ~3% ~1% ~1% <1% >5% ~(2)% >3% Pillars of Brightstar's 3-year CAGR Growt
Slide 24: Operational efficiencies to deliver ~$80M in incremental cost savings
Operational efficiencies to deliver ~$80M in incremental cost savings while supporting key growth initiatives & upskilling of global workforce ENABLERS 24 → Right-sizing to align smaller footprint post sale of IGT Gaming, with focus on back-office optimizations → Will not impact customer-facing acti
Slide 25: 2025-2028 peak CapEx cycle sets up Brightstar for long-term success
25 2025-2028 peak CapEx cycle sets up Brightstar for long-term success ENABLERS → Support accelerated sales growth outlook from low to solid mid-single digit → Build foundations for long-term efficiencies beyond OPtiMa 3.1 and 3.2 programs → Reinforce Brightstar’s unique competitive advantage Averag
Slide 26: Balanced capital allocation philosophy
~1,200 ~1,700 ~1,600 ~1,600 ~1,000 ENABLERS • Investment to maintain existing portfolio & pursue new growth initiatives • Target net debt leverage of ~3.0x; going to ~3.5x temporarily to finance Italy Lotto upfront fee • Enhanced shareholder returns to protect dividend yield → Including consistent-t
Slide 27: Introducing 2028 revenue & profit growth targets
Introducing 2028 revenue & profit growth targets highlighting strong cash flow generation & shareholder returns 27 WHY INVEST ~$1.3B 2028 Adjusted EBITDA* >6% CAGR (2025-2028); revenue growth enhanced by OPtiMa savings & other efficiency initiatives ~70% Cash Conversion (AEBITDA to Cash from operati
Slide 28: Q&A
04 Q&A BRIGHTSTAR EARNINGS REPORT – Q3’2528
Slide 29: The future is Brightstar: Why Invest
29 The future is Brightstar Global Leadership in Large, Growing Industry Growing, Resilient Business with High Contractual Recurring Revenue Significant Tailwind from Broader iLottery Adoption Attractive Profit Profile & Strong, Predictable Cash Flows Balanced Capital Allocation Strategy Includes In
Slide 30: Appendix
05 Appendix BRIGHTSTAR EARNINGS REPORT – Q3’2530
Slide 31: YTD'25 Revenue & Profit Profile
31 05 APPENDIX YTD’25 Revenue & Profit Profile 95% 5% Service Product Sales 47% 41% 12% U.S. & Canada Italy Rest of world 96% 4% Instant Ticket & Draw U.S. Multi-state Jackpots 2% 44% Income from continuing operations Adjusted EBITDA Revenue by Type Revenue by Geography Wager-based Revenue by Game T
Slide 32: Lottery Sales: Steady Growth & Resilience
32 Lottery Sales: Steady Growth & Resilience March 2001– Sep 2001 March 2008–June 2009 March 2020– June 2020 0 20 40 60 80 100 Instant Other Draw Keno Multi-state Games Recession U.S. Lottery Industry Sales ($B) BRSL Italy Lottery Sales (€B) June 2001 - Dec 2001 June 2003 – Sep 2003 June 2008 - June
Slide 33: Q3'25 Select Performance and KPI Data
Q3'25 Select Performance and KPI Data $ in millions except otherwise noted BRIGHTSTAR Earnings REPORT – Q3’25 05 APPENDIX 33 For the three months ended September 30, Constant 2025 2024 Y/Y Change Currency Change Revenue Service Instant ticket & draw wager-based revenue 512 477 7% 4% U.S. multi-state
Slide 34: Q3'25 Select Performance and KPI Data
Q3'25 Select Performance and KPI Data (1) Same-store sales represent the change in wagers recorded in lottery jurisdictions where Brightstar is the operator or facilities management supplier, using the same lottery jurisdictions and perimeter for comparisons between periods (2) Same-store revenue re
Slide 35: Summarized Income Statements
Summarized Income Statements $ in millions except otherwise noted BRIGHTSTAR Earnings REPORT – Q3’25 05 APPENDIX 35 All amounts from continuing operations For the three months ended September 30, For the nine months ended September 30, 2025 2024 Y/Y Change 2025 2024 Y/Y Change Service revenue (inclu
Slide 36: Summarized Cash Flow Statements
Summarized Cash Flow Statements $ in millions BRIGHTSTAR Earnings REPORT – Q3’25 05 APPENDIX 36 .56 For the three months ended September 30, For the nine months ended September 30, 2025 2024 2025 2024 Net cash (used in) provided by operating activities from continuing operations (439) 173 (6) 489 Ca
Slide 37: Reconciliation of Non-GAAP Financial Measures
$ in millions (1) Includes amortization of upfront license fees Reconciliation of Non-GAAP Financial Measures BRIGHTSTAR Earnings REPORT – Q3’25 05 APPENDIX 37 For the three months ended September 30, For the nine months ended September 30, 2025 2024 2025 2024 Income (loss) from continuing operation
Slide 38: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures All amounts presented are in $ (1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction (2) Includes the dilutive impact of share-based payment awards (3) Excludes the ant
Slide 39: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures All amounts presented are in $ (1) Calculated based on nature of item, including any realizable deductions, and statutory tax rate in effect for the relevant jurisdiction (2) Includes the dilutive impact of share-based payment awards BRIGHTSTAR Earnings