GTECH has completed the acquisition of US gaming supplier International Game Technology, with shares in the newly combined entity to begin trading in New York later today.
The combined companies will now be known as International Game Technology plc with corporate headquarters in London, and operating headquarters in Rome, Italy; Providence, Rhode Island; and Las Vegas, Nevada.
"Regulated gaming clients across both the government and private sectors are seeking reliable, secure and innovative ways to increase revenue and drive profitability, and IGT is the trusted go-to partner in this space," said Marco Sala, CEO of IGT. "We will provide top-performing content across multiple platforms enabling players to experience their favorite games across all regulated segments and channels, all with our unwavering Customer First approach.
"With a truly global reach, we will share expertise and experience both geographically and across market segments. The combination of GTECH and IGT is a winning combination."
Last week GTECH confirmed that all conditions precedent to its acquisition of IGT had been satisfied with its last day of trading on the Italian Stock Exchange last Thursday. Italy’s De Agostini Group will own 51 per cent of the new company.
The company also revealed last week that 17 of the 20 lenders under its senior revolving credit facilities have proportionally increased their aggregate commitments with respect to the US Dollar revolving credit facility from $1,500m to $1,800m and their aggregate commitments with respect to the Euro revolving credit facility from €850m to €1,050m.
Shares in IGT plc will commence trading later today (Tuesday) on the New York Stock Exchange under the IGT ticker symbol.
"We are pleased to welcome IGT to the NYSE," said NYSE group president Thomas Farley. "IGT is a premier global gaming operator shaping the future of entertainment and gaming, and an excellent addition to the NYSE's community of the world's leading companies."