GTECH Shareholders Approve IGT Merger

Shareholders of Italian lottery giant GTECH S.p.A. last month approved, in a shareholder’s meeting held on a single call, the company’s acquisition of leading slot manufacturer International Game Technology.

The shareholders approved the folding of GTECH into a new holding company that will be based in Britain, called Georgia Worldwide plc. That company will be listed on the New York Stock Exchange as NewCo, at least at first. The combined entity will have more than $6 billion in pro-forma revenues, GTECH said last summer when it announced the $4.7 billion acquisition of IGT.

A 97 percent majority of GTECH shareholders attending a meeting in Rome approved the merger.

The deal is expected to be completed by the second quarter of next year.