Search

Ohio Lottery backs GTECH, Lottomatica dealNews Story
The Ohio lottery has confirmed that the planned takeover of U.S. lottery operator GTECH by Italy's Lottomatica would not hurt GTECH's lottery concession there, Lottomatica said on Thursday. Lottomatica plans to buy GTECH in a $5 billion deal that would create the world's biggest lottery operator, but one of the deal conditions laid down by Lottomatica is that it would not lose GTECH's lottery operating concessions in the United States. Illinois, New York, Missouri, California, Michigan and
Aug 11, 2006, 5:57 pm - Lottery News

Brazil lottery cancels GTECH contract over Lottomatica acquisitionNews Story
GTECH Holdings Corp., which has agreed to be bought by Italy's Lottomatica, said on Tuesday that its contract to provide lottery services to its largest customer, Brazil, will not be renewed. The contract will expire on Aug. 13, the company said in a filing with the U.S. Securities and Exchange Commission. Its subsidiary, GTECH Brasil Ltda, has provided lottery services to the operator of Brazil's national lottery, Caixa Economica Federal, since 1997. Revenue from the contract accounted
Aug 9, 2006, 9:39 am - Lottery News

Michigan lottery backs GTECH, Lottomatica dealNews Story
The Michigan lottery has confirmed that the planned takeover of U.S. lottery operator GTECH by Lottomatica will not hurt its lottery concession in the state, the Italian company said in a statement on Thursday. Lottomatica plans to buy GTECH in a $5 billion deal that would create the world's biggest lottery operator. One of the conditions for the deal is that it will not have an impact on GTECH's lottery operating concessions in the United States. This has caused some hiccups for the two c
Aug 2, 2006, 9:11 am - Lottery News

GTECH sale closer as more states approveNews Story
The sale of West Greenwich-based GTECH Holdings Corp. to Italian lottery giant Lottomatica SpA this week inched toward completion. Lottomatica said that the state lotteries would continue existing contracts with GTECH, which it plans to buy in a $5 billion deal that would create the world's biggest lottery operator. Lottomatica had asked various U.S. states to confirm that the deal would not hurt existing lottery concessions when it launched the takeover earlier this year. Most states
Jul 28, 2006, 9:48 am - Lottery News

Texas lottery raises concerns over GTECH's practices, ethicsNews Story
Lottery giant's merger with Lottomatica requires that Texas agree to keep its contract with the company GTECH Holding Corp.'s stock plummeted as much as 14 percent yesterday morning before rebounding after the Texas Lottery Commission and the Texas Department of Public Safety raised concerns about the company's business practices and ethical integrity. Investors, anticipating that Texas might adversely impact GTECH's pending $4.8-billion acquisition by Italy's Lottomatica SpA, sold off so
Jul 21, 2006, 10:45 am - Lottery News

Lottery Giant Targets European MarketNews Story
Scientific Games, a dominant player in the US instant lottery ticket market, is jockeying for a larger stake in Europe after buying a British maker of betting terminals last month. The traditional lotto market has matured in Europe, the chief executive of Scientific Games, Lorne Weill, said. Growth needed to come from other product areas, such as instant scratch tickets and video lottery terminals. Instant lottery tickets are a high-growth market. In Italy, annual sales of instant
May 9, 2006, 6:50 am - Lottery News

After sale, GTECH to remain in R.I.News Story
Making it the latest Rhode Island company to be bought by a European firm, GTECH Holdings Corp. announced last week that it has entered into an agreement to be acquired by Lottomatica SpA, a Rome-based company that operates Italy's Lotto.The $4.8-billion deal will merge the West Greenwich-based company with the operator of one of the world's largest lotteries. Once combined, the two companies would have approximately 6,300 employees with operations in more than 50 countries.Under the agreement,
Jan 16, 2006, 8:03 am - Lottery News

Italian lottery operator to buy GTECHNews Story
Italian lottery operator Lottomatica will gobble up GTech Holdings for $35 a share cash, or about $4.8 billion including assumption of debt.The Italian lottery operator announced the transaction early Tuesday and noted that the price represents a 15% premium to the U.S. gambling-equipment and service company's value on Sept. 9 the day before it announced plans to seek a buyer for the company.Total value of the deal, including assumption of debt, is roughly $4.8 billion. GTech of West Greenwich
Jan 10, 2006, 4:14 pm - Lottery News

Gtech lottery, gaming units may be split in saleNews Story
If Gtech Holdings Inc. is sold, as recent reports suggest, it may be marketed in pieces to buyers interested in its global lottery operations and gaming equipment business, analysts told Bloomberg News.The Wall Street Journal published a report Tuesday indicating Gtech received an unsolicited expression of interest from Goldman Sachs Group Inc.'s private equity unit. Gtech, the world's biggest seller of computerized lottery systems, told Bloomberg News Monday it was considering an unsolicited
Sep 14, 2005, 7:21 am - Lottery News

GTECH completes acquisition of lottery companyNews Story
U.S.-based GTECH Holdings Corp. said Thursday it had closed a $40 million deal to buy an Antigua-based lottery company.The all-cash deal also gives the lottery giant licenses to operate games in Antigua and Barbuda, Anguilla, St. Kitts and Nevis, St. Maarten and Saba and St. Eustatius, and Turks and Caicos.GTECH said the acquisition of Leeward Islands Lottery Holdings Co. would add between $20 million and $25 million to the company's $1 billion in annual gross revenues. Leeward should provide $6
May 7, 2004, 7:11 am - Lottery News