Professional
Added to YB: 2024-06-14
Pitch date: 2024-04-04
IGT [bullish]
Brightstar Lottery PLC
-17.39%
current return
Author Info
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Company Info
Brightstar Lottery PLC provides lottery solutions in the United States, Italy, rest of Europe, and internationally.
Market Cap
$2.6B
Pitch Price
$16.46
Price Target
45.00 (+231%)
Dividend
6.54%
EV/EBITDA
6.41
P/E
-81.56
EV/Sales
2.30
Sector
Hotels, Restaurants and Leisure
Category
special_situation
Show full summary:
Palm Harbour Capital Portfolio Holding: International Game Technology PLC
IGT: Spun off gaming biz (40% sales) to merge with EVRI, lottery biz (60% sales) remains. Bears see risk in EVRI deal, reliance on Italian lottery (20% LottoCo sales). But strong FCF to cut debt to 2.5x for lottery biz. Upside to $45 if re-rate to peer multiples. Risks seem overblown.
Read full article (5 min)