IGT acquired in $6.4B deal

GTECH, an Italian lottery operator which is the world’s largest lottery operator, has acquired IGT (and it’s $1.7 billion net debt) for $6.4 billion. GTECH had a value of around $4.4 billion prior to the acquisition being announced. Previously focussing on lotteries and scratch cards, there is little overlap between the GTECH’s existing operations and IGT.

IGT is famous for their interactive themed slot machine designs including Wheel Of Fortune and the multi-location progressive MegaBucks.

This is not the first sign of consolidation in the slot manufacturer market, and all eyes will be on other acquisitions in the coming months and years to see whether the market consolidates further.