Brightstar has reported a year-on-year increase in quarterly revenue ahead of completing the final Italy Lotto licence payment of €1.43bn (£1.23bn) in April.
In Italy, the company operates the LottoItalia licence through a joint consortium with Allwyn, Arianna 2001, and Novomatic Italia – with Brightstar (61.5%) and Allwyn (32.5%) being the two biggest shareholders carrying the €2.23bn total fee.
The final payment clears Brightstar’s path towards building financial momentum by the end of the year, kickstarted by the positive revenue gains of $587m (£432m) in Q1 (Q1 2025: $583m).
Elsewhere, the firm recorded income from continuing operations at $63m, net cash from operating activities at $165m ($185m), together with cash and cash equivalents at $1.2bn ($631m).
Non-GAAP fiscal standings showed Adjusted EBITDA of $287m, up 15% YoY from $250m in Q1 2025, or a 5% increase at constant currency basis driven by profit flow-through from higher revenue and cost-effective operations led by internal OPtiMa undertakings.
Total liquidity was $2.8bn for the quarter ending 31 March. Additional borrowing capacity from undrawn facilities was $1.6bn, with an additional successful refinancing to March 2031 boosting investor confidence. Quarterly cash dividends came in at $0.23 per common share.
Brightstar’s FY26 outlook expects revenues of between $2.5-$2.55bn with at least 5% in organic growth, Adjusted EBITDA of between $1.16-$1.19bn through continuous OPtiMA improvements, $750m in cash derivatives separate from the Italy Lotto licence payment, and capital expenditure of between $450m and $475m covering for contractual obligations.
Brightstar Chief Financial Officer Max Chiara commented: “During the quarter, we continued to deliver OPtiMa cost savings while maintaining a disciplined approach to discretionary spend, carefully balancing cost control against strategic priorities, to sustain our profitable growth trajectory.
“Our balance sheet and credit profile are strong with historically low net debt leverage and manageable near-term debt maturities. The Company’s attractive margin structure and strong cash generation, coupled with access to significant liquidity, provide substantial support for our capital allocation plans.”
Chief Executive Officer Vince Sadusky concluded: “We delivered a solid start to the year, with first-quarter results reflecting the strength of our global portfolio and disciplined execution against our strategic priorities.
“We’re on track with our multi-year goal of delivering accelerated sales and profit growth that we expect to create compelling, incremental value.”