The $6.4 billion merger of leading slot machine maker International Game Technology and Italian lottery operator Gtech is finished.
Company officials said today that the two entities have completed the combination of their businesses and that the new company, International Game Technology PLC, is now trading on the New York Stock Exchange under the IGT ticker symbol.
The merger was first announced last summer, and Nevada gaming regulators gave their final blessing in February. As a result of the acquisition, IGT said it’s at the top of the industry in both lottery and gaming machines. With combined revenue of about $6 billion, IGT referred to itself as as the “preferred gaming and lottery partner” in upwards of 100 countries.
“We will provide top-performing content across multiple platforms enabling players to experience their favorite games across all regulated segments and channels,” new IGT CEO Marco Sala, a longtime Gtech executive, said in a statement. “With a truly global reach, we will share expertise and experience both geographically and across market segments.”
NYSE Group President Thomas Farley said in the same statement that the new IGT is an “excellent addition” to the stock exchange.
The new company is headquartered in the United Kingdom, but officials have said in the past that they’ll remain active in both the Reno and Las Vegas areas. They’ve said Las Vegas will be home to IGT’s global gaming operations, with work including game design and development, while Reno will focus on manufacturing operations.
Thisis not the only big merger that’s happened recently on the technology side of the gaming industry. Most notably, regulators last year approved a $5.1 billion merger between slot machine maker Bally Technologies and lottery company Scientific Games.