Tag Archives: gtech

GTECH amends IGT acquisition terms

Lottery and gambling technology providers GTECH SpA amended the payments terms of its $4.7 billion acquisition of International Game Technology (IGT). GTECH eliminated the terms which allowed investors to choose between all stock or all cash for holdings in IGT. The price of purchase set at $18.25 per share will be paid by GTECH offering $13.69 per share cash, plus …

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GTECH secures $10.7 billion acquisition loan

Gambling and lottery technology provider GTECH has secured a $10.7 billion loan in order to finalise its acquisition of slot machine manufacturer International Game Technology (IGT). Business news source Bloomberg, stated that the $10.7 billion had been granted by 14 international banks, who had been privileged to GTECH’s plans to acquire IGT. The loan will be available to GTECH for …

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GTECH sports betting boosted by World Cup

InCrowd

GTECH’s sports betting operations in Italy grew by 26.6% in the last quarter, which the firm has attributed to the FIFA World Cup, the introduction of virtual betting in the country and a stable payout percentage. Sports Betting saw revenues grow to €40.1m in Q2 from €31.7m for the same period in 2013, with turnover also jumping 22.9% to €218m. …

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GTECH set to buy IGT for $4.7 billion

After weeks of speculation GTECH SpA have confirmed that it will buy Las Vegas based slots machine and gambling provisions manufacturer International Game Technology (IGT) for $4.7 billion (£2.74 billion). Business news sources speculate that GTECH have structured the purchase of IGT using cash and stock equity. The further inclusion of $1.7 billion in net debt, will see the total …

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GTECH preps $4 billion IGT takeover

Italian newspaper La Repubblica reported this weekend that Milan stock listed gambling/lottery technology and provisions supplier GTECH SpA were preparing a bold $ 4 billion (£2.33 billion) acquisition offer to purchase International Game Technology – IGT. The Italian news source confirmed that senior GTECH management, were currently studying the financing dynamics of the deal in order to purchase the New …

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Betfred takes on MarginMaker for Australian operation

GTECH has announced that it has been selected to provide the technology platform to support Betfred’s launch of its new Australian interactive sports betting operation. GTECH’s industry-leading MarginMaker platform supported the launch of Betfred’s sportsbook product in May 2014. The initial sports betting launch included the mobile sportsbook, with online and racebook launches to follow in the coming months. GTECH …

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GTECH to develop new platform for Canada

GTech Canada ULC is leading a consortium to develop a “multi-channel content application platform”. GTech Canada is a subsidiary of GTech SpA, a leading commercial lottery operator and provider of technology in regulated gaming markets, including slot machines under the SPIELO brand. GTech Canada says the new project will enable simultaneous deployment of new games across mobile, Internet and land-based …

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Igaming searching for a contender

SBC’s Ted Menmuir looks at the state of the igaming supply chain and notices one name running through it like a stick of rock. In April Ladbrokes announced that it was on course to fulfil its migration to Playtech’s igaming services. The all-encompassing deal struck with the igaming software provider will see Ladbrokes drop its Microgaming inventory, as the sector …

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GTECH appoints Donna Kimmel as VP of Human Resources

GTECH has announced that Donna Kimmel has joined its senior management team to help lead the global Human Resources organisation. As Senior Vice President of Human Resources, she will be responsible for overseeing Human Resources operations for GTECH’s Americas and International regions as well as the centralised Products and Services organisation and corporate level Human Resources functions. Kimmel, who brings more …

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GTECH Reorganise US Management team to focus on Tech convergence.

GTECH S.p.A. has reorganised its Americas management team to meet its customers’ growing needs for an integrated offering across multiple gaming channels, including lottery, VLT, commercial casino, and interactive gaming. It has also created a new Lottery Management Services structure to meet lotteries’ increasing needs for greater efficiency and reliable profits through private or outsourced management services provided by GTECH. The new management team, …

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