International Game Technology

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International Game Technology PLC
Public
Traded asNYSEIGT
Russell 1000 Component
IndustryGaming
Founded1990
HeadquartersLondon, England (Headquarters)
Key people
Marco Sala (CEO)
Phil Satre (Chairman)
ProductsSlot machines, lotteries, gaming technology
RevenueUS$4.69 billion (2015)[1]
US$539 million (2015)[1]
(US$56 million) (2015)[1]
Total assetsUS$15.11 billion (2015)[2]
Total equityUS$3.36 billion (2015)[2]
Number of employees
12,000 (2015)[3]
Websiteigt.com

International Game Technology PLC (IGT), formerly Gtech S.p.A. and Lottomatica S.p.A., is a multinational gaming company that produces slot machines and other gaming technology. The company is headquartered in London, with major offices in Rome, Providence, and Las Vegas. It is controlled with a 51 percent stake by De Agostini.[4]

Lottomatica acquired Gtech Corporation, a U.S. gaming company, in August 2006, and later changed its own name to Gtech. Gtech managed many state and provincial lotteries in the United States and also had contracts with local and national lotteries in Europe, Australia, Latin America, the Caribbean, and Asia.

In 2015, the company acquired American gaming company International Game Technology and again adopted the acquired company's name as its own.

Current holdings[edit]

With the 2006 acquisition of Gtech Corporation, the company increased its global business activities due to a permanent presence of its employees in several countries throughout the world. IGT has operations in more than 100 countries worldwide, and deals with various ethnicities and nations with different levels of local employment laws. In order to meet these various requirements, IGT complies with the principles of the International Labor Office’s Tripartite Declaration of Principles concerning Multinational Enterprises and its social policy (Geneva 2000). In particular, the Company complies with all of the recommendations in the aforementioned declaration with regard to relations with staff in the various states.[5]

In July 2014, Gtech agreed to acquire American company International Game Technology (IGT), the world's largest slot machine manufacturer, for a total of $6.4 billion, including $4.7 billion in cash and $1.7 billion in assumed debt. The companies combined under a new holding company based in the United Kingdom, and the Gtech name was dropped in favor of IGT.[6][7]

On April 7, 2015, Gtech completed its merger with IGT. The new combined company's name is International Game Technology PLC.[8]

References[edit]

  1. ^ a b c Form 20-F: Annual Report (Report). International Game Technology. April 29, 2016. p. F-6 – via EDGAR.
  2. ^ a b Form 20-F: Annual Report (Report). International Game Technology. April 29, 2016. p. F-5 – via EDGAR.
  3. ^ Form 20-F: Annual Report (Report). International Game Technology. April 29, 2016. p. 32 – via EDGAR.
  4. ^ Form 20-F: Annual Report (Report). International Game Technology. April 29, 2016. p. 26 – via EDGAR.
  5. ^ "IGT_Sustainability_Report 2015_0807_h1313". Retrieved 2016-08-10.
  6. ^ Howard Stutz (15 July 2014). "IGT sold in $6.4 billion deal with lottery giant GTECH". Las Vegas Review-Journal. Retrieved 2014-07-16.
  7. ^ https://finance.yahoo.com/news/gtech-p-announces-name-company-201200896.html
  8. ^ http://www.prnewswire.com/news-releases/gtech-and-international-game-technology-complete-combination-and-form-the-worlds-leading-end-to-end-gaming-company-300062044.html