Italian Lottery Giant to Acquire Future Operator of Pennsylvania Slots System
GTECH Holdings Corp., a prominent provider of gaming technology and services, which has been selected to operate Pennsylvania's main slots computer, and Lottomatica SpA, the exclusive license holder and operator of Italy's Lotto, recently announced that both companies have entered into an agreement under which Lottomatica will purchase GTECH for $35.00 in cash per outstanding GTECH share. The overall price of the acquisition is $4.8 billion.
Steve Kniley, spokesperson for the Pennsylvania Department of Revenue, said that the department is aware of the upcoming transaction and will monitor all developments. According to Kniley, GTECH has already signed a contract to operate the central slots control system that will supervise revenues generated from the as many as 61,000 slot machines across the state. The company still needs final approval from the state's Gaming Control Board to implement the system.
W. Bruce Turner, President and CEO of GTECH, was quoted as saying, “During the past several years we have firmly established GTECH as the leading global lottery provider with strong positions in gaming solutions and commercial services, with a commitment to integrity and customer service. At the same time, Lottomatica has successfully grown one of the world's largest, most profitable and most complex lotteries. The combined company will have considerable scale and financial strength, superior customer solutions and significant long-term growth prospects.”
