International Game Technology, doing business as Brightstar Lottery, has completed the sale of its Gaming & Digital business to a holding company owned by funds managed by affiliates of Apollo Global Management.
Effective today, Brightstar will begin trading on the New York Stock Exchange under its business name, Brightstar Lottery, and new ticker symbol, BRSL. The company's CUSIP will not change and no action is needed from current stockholders.
"The sale of the Gaming & Digital business positions Brightstar for an exciting future," said Marco Sala, executive chair of Brightstar.
"The balanced allocation of proceeds to significantly reduce debt and return substantial capital to shareholders, in addition to funding investments in growth and improving ongoing shareholder returns, reflect the board's continuing commitment to enhance shareholder value."
"Today marks an exciting new chapter for the company, one that builds on a long legacy of delivering responsible, sustainable solutions through our products, services, technology and insights," said Vince Sadusky, CEO of Brightstar.
"I am extremely proud of the Brightstar team, whose future-forward mindset and commitment to innovation serving lottery customers around the world are the foundation of the company's strong financial position and predictable cash flows."
