IGT is rebranding its lottery business as the company offloads its gaming segment.
The London-based gambling company is rebranding its global lottery business to Brightstar Lottery, effective immediately. Brightstar will serve as a lottery operator, game developer, and technology supplier for regulated lottery providers around the world. Brightstar has a portfolio of partners that includes over 80 lotteries across six continents.
Brightstar provides lottery technology to 26 of America’s 46 lottery jurisdictions.
“Brightstar will be well-positioned to focus on driving innovation and growing the potential of the lottery business responsibly for the entertainment of players, the success of our customers, and the support of the good causes they fund in their communities,” said Brightstar Executive Chair of the Board Marco Sala.
IGT is rebranding its lottery business after reaching a blockbuster deal with alternative investment management firm Apollo Global Management last year.
Apollo agreed to acquire IGT’s Gaming and Digital business and Everi in an all-cash transaction valued at approximately $6.3 billion. Apollo is completing the deal through Voyager Parent, LLC, a holding company owned by funds managed by the firm.
IGT is offloading its Gaming & Digital business through a taxable spin-off to the company’s shareholders before merging with Everi. Once Apollo closes its acquisition of Everi and IGT Gaming, the firm will transition the two entities into a privately owned company. The combined enterprise will deliver IGT products and Everi’s bingo and casino offerings.
Everi stockholders will receive $14.25 per share once the deal is completed while IGT will receive $4 billion of gross cash proceeds for its Gaming and Digital business. IGT will use the fresh injection of capital to repay debt and return value to shareholders.
The majority shareholder of IGT, De Agostini S.p.A., will have a minority stake in the combined enterprise. IGT anticipates closing the transaction in the second half of 2025.
