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LONDON - Brightstar Lottery PLC (NYSE:BRSL), a global lottery technology provider with annual revenues of $2.45 billion, announced Thursday it has secured a seven-year contract to deploy its Aurora central system technology for Lotto Saxony in Germany following a competitive public procurement process. According to InvestingPro data, the company maintains a solid 44% gross profit margin and offers investors a notable 5.15% dividend yield.
The agreement will provide the German lottery operator with Brightstar’s cloud-based software platform, which includes tools for transaction processing, game management and back-office operations. The implementation is part of a technology modernization effort for Lotto Saxony. InvestingPro analysis reveals that Brightstar’s strong financial position is supported by liquid assets exceeding short-term obligations, with a healthy current ratio of 1.71.
"Brightstar’s high-performing central system and peripherals will enable Lotto Saxony to manage its business more efficiently with the confidence in knowing the technology is secure, dependable, and responsible," said Marco Tasso, Brightstar Chief Operating Officer International and Italy Operations, in the press release.
The contract extends a longstanding relationship between the two organizations. According to Lotto Saxony CEO Frank Schwarz, the lottery has partnered with Brightstar for 30 years.
As part of the agreement, Lotto Saxony will receive key cloud-based Aurora products including Anywhere, which securely connects external applications to the retail system, and Performance Wizard for analytics and insights.
Brightstar Lottery, which serves nearly 90 lottery customers across six continents, is the primary technology provider to 26 of the 46 lottery jurisdictions in the United States and seven of the world’s 10 largest lotteries, according to the company’s statement. While currently showing a robust free cash flow yield of 29%, InvestingPro analysis indicates the company is slightly overvalued at current levels. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report.
In other recent news, Brightstar Lottery PLC reported its second-quarter financial results, revealing a mixed performance. The company announced that its adjusted earnings fell short of analyst expectations. However, Brightstar Lottery managed to exceed revenue forecasts during the same period. These results were made public on Tuesday. The company’s financial performance highlights the challenges and successes it faced in the quarter. While the earnings miss might concern some investors, the revenue beat indicates areas of potential strength. These developments are part of the ongoing financial narrative for Brightstar Lottery.
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