Brightstar Lottery PLC

time, I would like to welcome you to the Bright Star Lottery third quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question at that time, please press star, then the number one on your telephone keypad. And if you'd like to withdraw that question, again, press star one. Thank you. I would now like to turn the conference over to James Hurley, Vice President of Investor Relations. James, you may begin.

Thank you, and thank you all for joining us on Bright Star Lottery's Q3 2025 Earnings Conference Call, which is being hosted by Vince Sadusky, our Chief Executive Officer, and Max Chiara, our Chief Financial Officer. After some prepared remarks, both Vince and Max will be available for your questions. During today's call, we will be making some forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees, and our actual results may differ materially from those expressed or implied in the forward-looking statements. The principal risks and uncertainties that could cause our results to differ materially from our current expectations are detailed in our latest earnings release and in our SEC filings. During today's call, we will discuss certain non-GAAP financial measures. You'll find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP measures in our press release, slides accompanying this webcast, and our funds with the SEC, each of which is posted on our investor relations website. Our statements are as of today, November 4th, and we have no obligation to update any forward-looking statements we make. And now I'll turn the call over to Vince.

Thank you, Jim, and good morning to all. We achieved many strategic milestones in the third quarter. This includes closing the IGT gaming sale for $4 billion in cash, executing on our shareholder return plans, and completing the refocusing of the company as a lottery pure play business. A big congratulations to the BrightStar team for their dedication and resilience in getting us here. Today's better-than-expected Q3 revenue and profit results reflect a significant acceleration of global same-store sales across all geographies. Year-to-date revenue of $1.8 billion highlights the scale of our business, which is driven by the sustained growth of core instant ticket and draw game sales. That's translated into solid profits and cash flow generation, which are attractive characteristics of our lottery business. You can appreciate this in the nearly $1 billion we've returned to shareholders through a combination of dividends and share repurchases this year, including the dividend we announced today. That $0.22 cash dividend per share is a 10% increase from our historical rate, and it's a clear demonstration of our commitment to enhancing shareholder returns. Same-store sales rose an impressive 8% in the third quarter, including 4% growth for core instance and draw games. In the U.S., same-store sales were up 8%. Multi-state jackpot same-store sales rose 70%, fueled by 1.8 billion Powerball jackpot in the period. We also had a nearly 2% increase in instant and draw games same-store sales, thanks to the continued success of our high-priced instant tickets in California and Florida and e-instant growth in Georgia. Italy's same-store sales were up solid mid-single digits with strength across both instant and draw games. The Milia Dotti relaunch and summer bundle performed well, as did the new 25-euro special edition VIP game. Teni Lotto's multi-bet payslip and Gioco del Lotto's numero oro option continue to fuel Italy draw game growth. Mobile lottery sales increased over 30% in the period. In Italy, digital-only Gioco Pio games are driving e-instant growth, while our new Teni Lotto fast game is contributing to double-digit eDraw expansion. iLottery momentum is equally strong in the U.S., where robust user growth in Georgia and Kentucky is complemented by the high-performing Elephant King and Cats jackpot games. Viking Gold, our first AI-developed game, went live in Rhode Island and Kentucky a few weeks ago, marrying proven game mechanics with AI-generated animation. There are several more AI-developed games in the pipeline. We introduced the new BrightStar brand to partners in North America and Europe at the recent NASPL and European Lottery trade shows. BrightStar received significant interest from customers eager to see the latest in lottery innovation to engage players. BrightStar's AI capabilities were of particular interest, including our new game plan wizard, a tool that analyzes instant ticket inventory and the performance of past games to assist in forecasting and building optimized game launch plans. For over 50 years, our innovative products and services have helped our customers excel. We believe the current roster will drive compelling incremental value over the next few years. Now I'll turn the call over to Max.