GTECH sale closer as more states approve
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 forum
Texas lottery raises concerns over GTECH's practices, ethics
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 forum
Lottery Giant Targets European Market
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 forum
After sale, GTECH to remain in R.I.
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 forum
Italian lottery operator to buy GTECH
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 forum
Gtech lottery, gaming units may be split in sale
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 forum
GTECH completes acquisition of lottery company
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 forum
GTech to buy Leeward Islands Lottery
World's largest lottery systems operator plans to acquire Caribbean-based Leeward for $40 millionGTech Holdings Corp., the world's largest lottery systems operator, on Monday said it would acquire a lottery operator based in the Caribbean for $40 million in cash.It said the acquisition of privately held Leeward Islands Lottery Holding Co., based in Antigua and St. Croix, gives it an entry to an important market. We believe the acquisition of LILHCo gives GTECH a strategic foothold in the Caribbe ...
Apr 5, 2004, 11:19 am - Lottery News forum