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...The deal will create what GTech has described as “the world’s leading end-to-end gaming company”, and represents an attempt to combat slowing growth in the sector....
...said GTech....
...The deal comes just two weeks after Italy’s Gtech agreed to acquire International Game Technology in a $4.7bn cash deal that created the world’s largest slot-machine maker, and reflects the pressure faced...
...Gtech, which is best known for operating Italy’s state lottery, said it planned to merge with IGT under a newly formed UK holding company....
...The relationship with Totalizator continues, and Gtech has recently completed work on the third iteration of the Polish lottery system....
...GTech Corporation, part of Italy’s Lottomatica group, and An Post – the Irish post office –- also expressed interest....
...“Our business is resilient even in recession, not just in Italy but the whole world,” declares Marco Sala, chief executive of Lottomatica, Italy’s largest gaming company and, through its US-based GTECH subsidiary...
...The early beneficiaries are likely to be the software suppliers of state lotteries, according to Warwick Bartlett of Global Betting and Gaming Consultants, such as Lottomatica, GTech and Playtech....
...Lottomatica would use GTech’s expertise to expand outside Italy....
...The bond, which will be priced this week, forms part of a bigger financing package to fund its planned acquisition of GTech, the US gaming giant....
...Bruce Turner, chief executive of GTech, will take the same post at Lottomatica....
...The issue forms part of a financing package for its planned acquisition of GTech, the US gaming group. The sole book runner is Credit Suisse....
...Lottomattica, the Italian lottery operator, plans to issue €750m of hybrid bonds with speculative grade ratings to refinance its acquisition of GTech in January....
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