Brightstar Lottery Capital Return Continues to Exceed Expectations

July 31, 2025
BRSL: $14.95
Market Cap: $3.04BN
Price Target: $20

Summary

Brightstar Lottery (BRSL) reported solid Q2 2025 results and is delivering on every aspect of the original thesis I laid out in June. The company has now begun executing on the largest capital return in its history: a $3.00 per share tax-free special dividend (paid July 29) and a $250MM accelerated share repurchase (ASR) — the first half of a $500MM buyback authorization.

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