Core Insights - Brightstar Lottery PLC has signed a five-year exclusive licensing agreement with Avanti Licensing, Inc. to develop and distribute omnichannel lottery games based on Avanti's humorous greeting cards [1] - The partnership aims to leverage Avanti's extensive image library and Brightstar's game design expertise to create engaging lottery experiences [1] Company Overview - Brightstar Lottery PLC (NYSE: BRSL) is a global leader in the lottery industry, known for its secure technology and comprehensive solutions [3] - The company employs approximately 6,000 people and is recognized for its integrity and responsibility in lottery operations [3] Partnership Details - Avanti Licensing, Inc. is known for its character-driven greeting cards and has a global presence, with products translated into over 12 languages [1] - The collaboration will focus on creating instant tickets, innovative draw-based games, and engaging eInstant games that reflect Avanti's trademark humor [1]

Core Insights - International Game Technology PLC (IGT) reported a decline in revenue and income for Q1 2025, with revenue at $583 million, down 12% year-over-year from $661 million [3][4] - The company anticipates being at the low end of its full-year revenue and Adjusted EBITDA guidance due to lower U.S. multi-state jackpot activity and a worsening macroeconomic environment [2][8] - Despite the challenges, IGT maintains a strong financial profile with significant liquidity to support future contract renewals [2][5] Financial Performance - Revenue decreased to $583 million from $661 million, a 12% decline [3][4] - Operating income fell to $138 million, down 37% from $219 million, with an operating income margin of 23.7% compared to 33.1% in the prior year [3][4] - Income from continuing operations dropped significantly to $8 million, a 93% decrease from $116 million [3][4] - Adjusted EBITDA was $250 million, down 24% from $327 million, with an Adjusted EBITDA margin of 42.8% [3][4] - Diluted loss per share from continuing operations was $(0.11), compared to earnings of $0.35 in the prior year [4][30] Cash Flow and Liquidity - Net cash provided by operating activities from continuing operations was $168 million, a significant increase from $65 million in the prior year [3][32] - Free cash flow reached $92 million, up 204% from $30 million [3][32] - Total liquidity as of March 31, 2025, was $2.2 billion, including $631 million in cash and $1.5 billion in additional borrowing capacity [7] Market Trends and Outlook - Global sales of instant ticket and draw games are expanding, driven by game innovation and portfolio optimization [2] - The company expects full-year revenue of approximately $2.55 billion and Adjusted EBITDA of approximately $1.10 billion, aligning with the low end of previous guidance [8][23] - The decline in U.S. multi-state jackpot activity and macroeconomic challenges are expected to impact future performance [2][23] Other Developments - IGT successfully executed a €1 billion term loan due 2030 [8] - The Board of Directors declared a quarterly cash dividend of $0.20 per common share [8]