BRSL
Brightstar Lottery PLC
stock NYSE

I can see why you’re interested again around $10. The Q3 comparison is probably going to make the numbers look worse than they really are simply because last year had that crazy $1.8B Powerball jackpot.
That said, I’d probably be careful about giving the jackpot environment too much weight. It can help a quarter, but it’s not something I’d want to build the whole valuation around. I’m more interested in what the underlying business is doing with Brazil, online growth and cash flow.
The debt is probably the thing I’d be watching most closely. A 9%+ dividend is obviously tempting at this price, but with the refinancing coming up, I’d want to see how much of that cash flow is actually left after interest and investment in the business.
The buyback is interesting too, assuming they’re actually buying at these prices. If they can reduce the share count while the business keeps growing, that could make the per-share numbers look quite different over time.
I haven’t dug deeply enough into BRSL to have a strong view yet, but under $10 I can definitely understand why it’s back on the radar. The 2027 angle is probably what I’d want to spend more time looking at.

Brightstar Lottery BRSL has re-entered value territory.

I can see why you’re interested again around $10. The Q3 comparison is probably going to make the numbers look worse than they really are simply because last year had that crazy $1.8B Powerball jackpot.
That said, I’d probably be careful about giving the jackpot environment too much weight. It can help a quarter, but it’s not something I’d want to build the whole valuation around. I’m more interested in what the underlying business is doing with Brazil, online growth and cash flow.
The debt is probably the thing I’d be watching most closely. A 9%+ dividend is obviously tempting at this price, but with the refinancing coming up, I’d want to see how much of that cash flow is actually left after interest and investment in the business.
The buyback is interesting too, assuming they’re actually buying at these prices. If they can reduce the share count while the business keeps growing, that could make the per-share numbers look quite different over time.
I haven’t dug deeply enough into BRSL to have a strong view yet, but under $10 I can definitely understand why it’s back on the radar. The 2027 angle is probably what I’d want to spend more time looking at.

Brightstar Lottery BRSL has re-entered value territory.