SBC News Voice of the Sports Betting Industry
The High Court of England & Wales has cleared the acquisition of International Game Technology (IGT) by GTECH SpA. The approval grants the technology provider one of its final steps before clearing its $6.4 billion acquisition of IGT which aims to be completed by 7 April.
As previously stated by GTECH governance, once the acquisition is finalised. GTECH and IGT will form a new company operating under the brand IGT. The new company will aim to be listed under the IGT symbol on the New York Stock Exchange with its operational headquarters in London.
“GTech will make an announcement as to the satisfaction or waiver of such conditions precedent promptly and, in any event, by the time the Italian Stock Exchange opens on April 1, 2015,” the company said in a statement
In March GTECH recorded fourth quarter 2014 losses “primarily attributable” to the acquisition costs of IGT. GTECH interactive revenues remained flat at $110 million.
