GTech approves share buyback plan
Milan-listed GTech SpA on Monday said it would undertake a share repurchase programme to fulfil management stock incentive plans. The company’s board approved the buyback of up to 1,782,426 of its own shares, GTech said in a statement.
GTech is a commercial lottery operator and provider of technology in regulated gaming markets, including slot machines under the SPIELO brand.
Based on Monday’s closing price of EUR17.85, GTech would pay about EUR31.8 million (US$43.6 million) for approximately 1 percent of its share capital.
“By September 30, 2014, the programme will be executed in full independence by a financial institution mandated for this purpose,” the company said in the statement.
“This maximum amount represents the number of shares required to fulfil management stock incentive plans of the stock granting type currently outstanding,” it added.
Last month, GTech confirmed talks to buy New York-listed gaming supplier International Game Technology (IGT).
Features
-
E-Sports and potential to bring millennials to casinos Nowadays, millennials, people who were born in the 1980s or... -
Food and drink major non-gaming push: Macau casino ops Food and drink have been heavily marketed as part of Macau... -
Macau law needs revamp to allow more concessions: experts Macau’s gaming law needs to be amended in order to...
Latest News
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
No order needed re Boracay casino ban: Duterte, official November 12, 2018 
Steve Wynn sues Wynn Resorts, Mass. regulator: reports November 12, 2018 
Okada Manila VIP volume down 30pct q-on-q, mass growing November 12, 2018 
Okada Manila books best-yet EBITDA in October November 14, 2018 
Macau GGR steady, November circa US$2.9 bln: analysts November 13, 2018