Dec 04, 2014 Newsdesk Industry Talk, Latest News  
Lottery equipment and management specialist GTech SpA on Wednesday said its planned takeover of Nevada-based International Game Technology (IGT) could drive up the new entity’s earnings before interest, taxation, depreciation and amortisation (EBITDA) by as much as US$280 million.
In an IGT filing on behalf of GTech to Nasdaq in New York, where the new firm will be listed, management said “industrial efficiencies” could have a positive EBITDA impact of US$85 million; with “overlapping corporate activities” accounting for a US$125 million positive impact; and a further US$20 million improvement from “optimised” research and development spending.
GTech added that what it called “natural revenue enhancements” from sales in Italy – GTech’s home base – plus benefits from cross selling and “mobile exploitation” could produce a further US$50 million positive impact on EBITDA.
The Italian company is acquiring IGT for US$6.4 billion, comprised of US$4.7 billion in cash and stock, and the assumption of US$1.7 billion in net debt.
The transaction is due to be completed in the first half of 2015.
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