GTECH And International Game Technology Complete Combination And Form The World's Leading End-To-End Gaming Company
Combined Company, Named International Game Technology PLC ('IGT'), Begins Trading on the New York Stock Exchange (Ticker: IGT)
Chief Executive Officer Marco Sala, Joined by Senior Executives of the Combined Company, Rings Opening Bell
07 Apr, 2015, 11:02 ET
LONDON, April 7, 2015 /PRNewswire/ -- GTECH S.p.A. and International Game Technology today announced the completion of the combination of their businesses, creating a global leader in delivering innovative end-to-end solutions across the full spectrum of regulated gaming. The combined company's name is International Game Technology PLC ("IGT"). It began trading today on the New York Stock Exchange under the ticker symbol 'IGT'.
IGT is uniquely positioned to serve global commercial and government clients with innovative content, cutting-edge technology, and a suite of products that delivers exciting gaming experiences through every channel, including lotteries, gaming machines, social, mobile, and interactive.
IGT is now positioned number one both in lottery and gaming machines.
IGT's customer base presents a powerful growth opportunity for the two highly complementary legacy businesses. IGT is the preferred gaming and lottery partner in more than 100 countries around the world with combined revenues of approximately $6 billion.
"Regulated gaming clients across both the government and private sectors are seeking reliable, secure and innovative ways to increase revenue and drive profitability, and IGT is the trusted go-to partner in this space," said Marco Sala, CEO of IGT. "We will provide top-performing content across multiple platforms enabling players to experience their favorite games across all regulated segments and channels, all with our unwavering Customer First approach. With a truly global reach, we will share expertise and experience both geographically and across market segments. The combination of GTECH and IGT is a winning combination."
"We are pleased to welcome IGT to the NYSE," said Thomas W. Farley, NYSE Group President. "IGT is a premier global gaming operator shaping the future of entertainment and gaming, and an excellent addition to the NYSE's community of the world's leading companies."
Mr. Sala has been with GTECH for more than 10 years, most recently serving as CEO, and has two decades of experience in executive management positions.
In addition to Mr. Sala, the corporate leadership team will be comprised of the following:
- Renato Ascoli – Chief Executive Officer, North America Gaming/Interactive (DoubleDown Casino)
- Walter Bugno – Chief Executive Officer, International
- Fabio Cairoli – Chief Executive Officer, Italy
- Michael Chambrello – Chief Executive Officer, North America Lottery
- Alberto Fornaro – Executive Vice President and Chief Financial Officer
- Donald R. Sweitzer – Chairman, IGT Corporation (North America) and Senior Public Affairs Advisor
- Robert Vincent – Senior Vice President, Human Resources and Corporate Communications
For b-roll of IGT's products, please visit https://youtu.be/12iIFWJF9WY.
Cautionary Statement Regarding Forward-Looking Statements
This communication may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC ("IGT PLC") and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of IGT PLC as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should,", "shall", "continue", "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements are subject to various risks and uncertainties, many of which are outside IGT PLC's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) risks that the businesses of International Game Technology and GTECH S.p.A. will not be integrated successfully, following the recent completion of their business combination, or that the combined companies will not realize estimated cost savings, value of certain tax assets, synergies, growth or other anticipated benefits or that such benefits may take longer to realize than expected; risks relating to unanticipated costs of integration of the two companies; reductions in customer spending; a slowdown in customer payments and changes in customer demand for products and services; unanticipated changes relating to competitive factors in the industries in which the company operates; ability to hire and retain key personnel; the potential impact of the consummation of the business combination on relationships with third parties, including customers, employees and competitors; ability to attract new customers and retain existing customers in the manner anticipated; reliance on and integration of information technology systems; changes in legislation or governmental regulations affecting the company; international, national or local economic, social or political conditions that could adversely affect the company or its customers; conditions in the credit markets; risks associated with assumptions the company makes in connection with its critical accounting estimates and legal proceedings; and the company's international operations, which are subject to the risks of currency fluctuations and foreign exchange controls. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect the company's business, including those described in IGT PLC's registration statement on Form F-4 and other documents filed from time to time with the Securities and Exchange Commission (the "SEC"). Except as required under applicable law, the company does not assume any obligation to update these forward-looking statements. Nothing in this announcement is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per IGT PLC share for the current or any future financial years will necessarily match or exceed the historical published earnings per IGT PLC share, as applicable. All forward-looking statements contained in this communication are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to IGT PLC, or persons acting on its behalf, are expressly qualified in its entirety by the cautionary statements contained throughout this communication.
IGT (NYSE: IGT) is the global leader in gaming. We enable players to experience their favorite games across all regulated segments and channels, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of prime content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately $6 billion in revenues and more than 13,000 employees. For more information, please visit www.merger.igt.com.
Robert K. Vincent, Corporate Communications, (401) 392-7452
James Hurley, Investor Relations, (401) 392-7190
Photo - http://photos.prnewswire.com/prnh/20150407/197008
SOURCE International Game Technology PLC (IGT)
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