Leading slot manufacturer International Game Technology and lottery and gaming giant GTECH S.p.A. closed their much-anticipated merger last month, to the applause of Wall Street as the chairman of the newly merged company, International Game Technology Plc., rang the bell at the New York Stock Exchange.
The acquisition of IGT by Italy-based GTECH creates one of the two new powerhouses of the gaming supply sector. GTECH, a leading supplier and operator of lotteries and VLTs in Italy, had already absorbed successful slot companies Atronic and Spielo International. Adding the world’s largest slot company affords a counterbalance to Scientific Games, GTECH’s traditional lottery industry rival that recently absorbed two other top-five slot companies, Bally Technologies and WMS Industries.
The merger became effective at 12:01 a.m. on April 7. International Game Technology Plc. began trading last week on the New York Stock Exchange under the ticker symbol IGT.
GTECH will be rebranded as IGT. The GTECH name will eventually disappear. As part of the sign changeover, the letters “IGT” will replace the blue “GTECH” letters at the top of the 13-story tower above GTECH’s current Rome and Providence, Rhode Island headquarters locations.
Rome and Providence will become operating headquarters of the merged company, with worldwide corporate headquarters to be located in Las Vegas. IGT’s Reno facility will be the main manufacturing plant of the combined company. Providence will serve as North American headquarters for the lottery and gaming business units.
Marco Sala, a longtime GTECH executive, is CEO of the newly merged IGT. Former IGT Chairman Phil Satre is chairman of the board of the new company, with former IGT CEO Patti Hart as vice chairman.
In addition to Sala, the corporate leadership team will include Renato Ascoli, chief executive officer, North America Gaming/Interactive; Walter Bugno, CEO, international; Fabio Cairoli, CEO, Italy; Michael Chambrello, CEO, North America lottery; Alberto Fornaro, executive vice president and chief financial officer; Donald R. Sweitzer, chairman, IGT Corp. (North America) and senior public affairs adviser; and Robert Vincent, senior vice president, human resources and corporate communications.
The company also unveiled a new logo April 7. The merged company is the world’s top gaming machine manufacturer and top lottery contractor in traditional lottery sales, instant tickets, scratch tickets and video lottery terminals in 41 U.S. states and more than 100 countries worldwide.