Dec. 2, 2014, 6:43 AM
- Gtech (OTCPK:GTKYY) is going ahead with its planned merger with International Game Technology (NYSE:IGT) after dissenting shareholders exercised their right to sell their shares back to Gtech.
- Gtech will publish final details on the exercise of the so-called exit rights on Dec. 12.
- Previously: Gtech to buy IGT for $4.7B
Aug. 1, 2014, 7:50 AM
- The combination of Scientific Games (NASDAQ:SGMS) and Bally Technologies (NYSE:BYI) will create a gaming and lottery juggernaut able to stir up $220M in annual cost synergies and $25M in annual capex spending savings, according to the companies.
- The pairing will also see "accelerated utilization" of various tax attributes on U.S. income which will help the bottom line.
- The lush premium paid for Bally could give a lift sector peers Multimedia Games (NASDAQ:MGAM) and International Game Technology (NYSE:IGT) today.
- Premarket: IGT +1.9%, MGAM no action yet.
Jul. 16, 2014, 5:56 AM
- Gtech (OTCPK:GTKYY) has agreed to buy International Game Technology (NYSE:IGT) in a cash and stock deal worth $4.7B.
- Gtech will pay an 18% premium on IGT's yesterdays closing stock price of $15.50 per share. Total transaction value is approximately $6.4B, as Gtech will assume $1.75B in existing IGT debt.
- At a time when the gambling industry is experiencing slower growth, the new deal will link the world’s main provider of lottery systems with the largest slot-machine maker.
- IGT +8.7% premarket
Jun. 13, 2014, 12:43 PM
- Holding company MacAndrews & Forbes is interested in bidding for IGT, as are P-E firms Apollo Global and Carlyle, Reuters reports.
- The news service reported on Monday IGT had "attracted interest from other gaming companies as well as private equity firms," but didn't give names.
- Scientific Games (SGMS) and Bally (BYI) are once more following IGT higher.
Jun. 9, 2014, 4:00 PM
- Reuters reports IGT (IGT +14.3%) has "attracted interest from other gaming companies as well as private equity firms," as it works with Morgan Stanley to explore a sale.
- Presentations for prospective buyers are reportedly being held. Sources caution uncertainty related to the selloff in IGT's shares could turn buyers away, and that a lengthy regulatory review process might await.
- Tumbling gaming product sales have and soft game operations revenue have led IGT to deliver multiple earnings disappointments. The company's interactive (social gaming) ops have fared better.
- Peers Scientific Games (SGMS +5.1%) and Bally (BYI +1%) have received sympathy bids.
- Earlier: IGT jumps on takeover talk
Jan. 12, 2012, 5:02 PM
Jan. 12, 2012, 3:59 PM
IGT vs. ETF Alternatives
International Game Technology is a gaming company specializing in the design, development, manufacturing and marketing of casino-style gaming equipment, systems technology and game content across multiple platforms.
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