This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Brightstar Lottery PLC (formerly part of IGT) is a global lottery technology and services company that serves as the primary technology provider to 26 of the 46 U.S. lottery jurisdictions and eight of the world's ten largest lotteries. The company designs, sells, operates, and leases point-of-sale lottery machines, produces instant ticket games, operates lottery transaction processing systems, and provides iLottery digital gambling solutions. Brightstar reported full-year 2025 revenue of $2.51 billion, with Q4 revenues rising 3% to $668 million driven by same-store sales growth from elevated jackpot activity and iLottery expansion. The company serves nearly 90 lottery customers globally and has forecast $2.5-2.55 billion in revenue for FY2026. Lottery operations represent the company's sole business line following its separation into a standalone lottery-focused entity.
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.