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

IGT Announces New Merger

Posted: Updated:
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."
  • Today's Top StoriesMore>>

  • Suspect Killed in Officer-Involved Shooting Identified

    Suspect Killed in Officer-Involved Shooting Identified

    Tuesday, September 2 2014 9:19 PM EDT2014-09-03 01:19:35 GMT
    The Washoe County Medical Examiner's Office has identified 42-year-old Royal Shawn Bingamen, from Idaho, as the armed robbery suspect who was killed in a shootout with Reno police Sunday night.More >>
    The Washoe County Medical Examiner's Office has identified 42-year-old Royal Shawn Bingamen, from Idaho, as the armed robbery suspect who was killed in a shootout with Reno police Sunday night.More >>
  • State Attorney General Files suit against the Washoe School Trustees

    State Attorney General Files suit against the Washoe School Trustees

    Tuesday, September 2 2014 7:08 PM EDT2014-09-02 23:08:29 GMT
    The list of legal problems for the Washoe School District grew this morning as the State Attorney General's Office filed six counts each against the six trustees involved in the Pedro Martinez suit. But The School Board's outside counsel says he began working on settlement in that matter since last Wednesday and able to file it immediately. The suit alleges the trustees made six different violations to the State Open Meeting Law and that they should be paying $500 per violation. Those violati...More >>
    The list of legal problems for the Washoe School District grew this morning as the State Attorney General's Office filed six counts each against the six trustees involved in the Pedro Martinez suit. But The School Board's outside counsel says he began working on settlement in that matter since last Wednesday and able to file it immediately. The suit alleges the trustees made six different violations to the State Open Meeting Law and that they should be paying $500 per violation. Those violati...More >>
  • Paleo Program to Lose Weight

    Paleo Program to Lose Weight

    Tuesday, September 2 2014 7:03 PM EDT2014-09-02 23:03:32 GMT
    The paleo lifestyle might be the right thing for you to lose weight.  At least a local doctor's office thinks so.More >>
    The paleo lifestyle might be the right thing for you to lose weight.  At least a local doctor's office thinks so.
    More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.