Tag Archives: morgan stanley

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 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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Morgan Stanley Lowers US igaming estimates

Investment bank and corporate financiers Morgan Stanley lowered its estimate of the U.S. Internet gambling market on Tuesday to $3.5 billion by 2017, down from a previous forecast of $5 billion. The Wall Street firm cited worse-than-expected technical issues in its projection, but said it’s optimistic about the new industry’s long-term prospects. It forecast an $8 billion market by 2020, …

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