IGT Announces New Merger - KTVN Channel 2 - Reno Tahoe News Weather, Video -

IGT Announces New Merger

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A Nevada gambling giant has agreed to a multi-billion dollar merger, which will take its headquarters out of the Silver State. 

International Game Technology is being acquired by Italian company GTECH, in a deal worth almost $6.5 billion. 

GTECH is the world's largest lottery operator, and oversees Italy's national lottery system.

IGT's main offices are in Reno and Las Vegas.

But under the new deal, GTECH and IGT will form a new global gaming company, based out of the United Kingdom.

Once the move is final, the new company will apply to be listed on the New York Stock Exchange.
"We are extremely pleased to reach a definitive merger agreement with GTECH as a result of our exploration of strategic alternatives to increase shareholder value.  This outstanding combination of two global leaders redefines the future of the gaming industry.  Together we are uniquely positioned to provide the industry's broadest and most innovative portfolio of best-in-class products, solutions and services," said Patti Hart, IGT CEO.  "This strategic agreement positions us to further transform the industry while providing meaningful benefit and value to our customers, our employees and our shareholders."
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