IGT Purchased By GTech

GTech Spa, an Italian gambling firm has purchased one of the largest names in land based/online based gambling. International Game Technology, formally known as IGT has been purchased by GTech for a total of $6.4 Billion. This came as a shock to industry analysts as IGT is considered to be one of the biggest names in the industry and no one thought that they would be purchased for a long period of time. GTech will now own all the rights to IGT’s video slots and casino games from here on in.

GTECH SPA

This deal will allow for IGT to gain $4.7 Billion in cash while GTech will has to absorb the $1.7 Million that IGT has is debt. Normally companies won’t purchase a big name company that has a mass amount of money is debt but the fact of the matter is that IGT’s slot machines are everywhere. You could be at a land based casino, an online casino or at an casino on a cruise ship and find their games. They are a company that is beloved by millions of gamblers all around the worth, paying for their previous debt is a logical business decision.

Patti Hart, the previous CEO for IGT said, “It is a shame that I have to leave my position at IGT. Even though I will be called in for occasional advice I will no longer be the commander and chief. None the less I plan to see IGT continue to grow as one of the best gambling developers in the world.”


Leave a Reply