International Game Technology

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International Game Technology PLC
TypePublic company
IndustryGambling
Founded1990; 32 years ago (1990)
HeadquartersLondon, England (Headquarters)
Key people
Marco Sala (CEO)
Phil Satre (Chairman)
Products
RevenueDecrease US$3.115 billion (2020)[1]
Decrease US$-0.107 billion (2020)[1]
Decrease US$-0.838 billion (2020)[1]
Total assetsDecrease US$12.992 billion (2020)[1]
Total equityDecrease US$1.561 billion (2020)[1]
Number of employees
12,000 (2015)[2]
Websiteigt.com

International Game Technology PLC (IGT), formerly Gtech S.p.A. and Lottomatica S.p.A., is a multinational gambling company that produces slot machines and other gambling technology. The company is headquartered in London, with major offices in Rome, Providence, Rhode Island, and Las Vegas. It is controlled, with a 51 percent stake, by De Agostini.[3]

Italian gambling company Lottomatica acquired Gtech Corporation, a US gambling company, in August 2006, and later changed its own name to Gtech. Gtech managed many state and provincial lotteries in the US and had contracts with local and national lotteries in Europe, Australia, Latin America, the Caribbean, and Asia.

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

Current holdings[edit]

With the 2006 acquisition of Gtech, 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.[4]

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.[5][6]

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

In February 2022, IGT announced their expansion into Washington state via a multi-year deal with Kalispel tribe.[8] Following this, in February 2022, IGT also announced a divestment deal to sell the company’s Italian proximity payment business to re-loadable prepaid card service organisation, PostePay in a deal worth £523.9 million.[9]

In March 2022, International Gaming Technology’s subsidiary IGT global services announced their 6-year partnership agreement with Singapore Pools Limited.[10]

In April 2022, International Games Technology announced their deal to acquire igaming content provider iSoftBet for approximately €160 million.[11]

References[edit]

  1. ^ a b c d e "International Game Technology PLC 2020 Annual Report" (PDF). s28.q4cdn.com. 31 December 2020. Retrieved 25 November 2021.
  2. ^ Form 20-F: Annual Report (Report). International Game Technology. 29 April 2016. p. 32 – via EDGAR.
  3. ^ Form 20-F: Annual Report (Report). International Game Technology. 29 April 2016. p. 26 – via EDGAR.
  4. ^ "IGT_Sustainability_Report 2015_0807_h1313". Retrieved 10 August 2016.
  5. ^ Howard Stutz (15 July 2014). "IGT sold in $6.4 billion deal with lottery giant GTECH". Las Vegas Review-Journal. Retrieved 16 July 2014.
  6. ^ "GTECH S.p.A. Announces Name Of New Company As "IGT" - Yahoo Finance". Archived from the original on 6 March 2015.
  7. ^ PLC (IGT), International Game Technology. "GTECH And International Game Technology Complete Combination And Form The World's Leading End-To-End Gaming Company". prnewswire.com.
  8. ^ "IGT expands in Washington state with Kalispel Tribe deal". 18 February 2022. Retrieved 22 April 2022.{{cite web}}: CS1 maint: url-status (link)
  9. ^ "IGT to sell Italian proximity payment business for $700m". iGaming Business. 28 February 2022. Retrieved 4 May 2022.{{cite web}}: CS1 maint: url-status (link)
  10. ^ "IGT signs six-year contract with Singapore Pools". Gambling Insider. 22 March 2022. Retrieved 1 April 2022.{{cite web}}: CS1 maint: url-status (link)
  11. ^ "IGT Enters into Definitive Agreement to Acquire iSoftBet". European Gaming. Retrieved 20 April 2022.{{cite web}}: CS1 maint: url-status (link)

External links[edit]