Company: BRSL
Filing Date: 2025-02-25
Form Type: 20-F
Source: 0001619762-25-000007
Chunk: 11

Company: Brightstar Lottery PLC
Filing Date: 2025-02-25
Form: 20-F
Item: Item 4
Chunk 11
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 websites, and provides sports betting technology and management services to licensed sports 
betting operators. IGT Gaming’s principal products and services include: (i) gaming machines and game content, including core products, video poker, and video lottery terminals (“VLTs”); (ii) gaming management systems; (iii) digital gaming; and (iv) sports betting technology and management services.
Revenue - Continuing Operations
Revenues from continuing operations for the year ended December 31, are as follows:
For a further description of the principal services and products the Company provides, including a breakdown of the Company’s revenues by geographic market, see “Item 5. Operating and Financial Review and Prospects” and “Notes to the Consolidated Financial Statements—3. Discontinued Operations and Assets Held for Sale, 4. Revenue Recognition, and 23. Segment Information” included in “Item 18. Financial Statements”.
Seasonality
The Company generally experiences seasonality based on when contracts with customers are executed or extensions are negotiated and seasonal patterns in consumer demand impacting wagers. This seasonality is reflected, to a greater extent, in revenues from LMAs which include potential incentives or penalties based on achievement of or failure to achieve contractual metrics over the contract year due to the fact that these LMA incentives are estimated and accrued over the lotteries fiscal year. Lottery consumption may increase in December and around the holidays but decrease over the summer months due to the tendency of consumers to be on vacation during that time. Seasonal gaming trends generally show higher play levels in the spring and summer months and lower levels in the fall and winter months. 
Source of Materials
The Company uses a variety of raw materials across its business. Metals, woods, plastics, glass, electronic components, and LCD screens are frequently used during the manufacturing of lottery terminals. The instant ticket printing facility consumes significant quantities of paper, toner, and ink throughout production. When ultimately delivering these goods to customers, the packaging process employs large amounts of paper, including cardboard. The Company generally has global material suppliers and uses multi-sourcing practices to promote component and raw material availability, quality assurance, and cost consciousness.
Product Development
The Company devotes resources to research and development of lottery products and services and incurred $45 million, $37 million, and $45 million of related expenses, excluding amortization of capitalized software, in 2024, 2023, and 2022, respectively. In addition to expensed R&D, a portion of the investment in R&D has been