• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GTech to buy back up to 9.5 pct of its capital

Oct 02, 2014 Newsdesk Industry Talk, Latest News, Top of the deck  


GTech to buy back up to 9.5 pct of its capital

GTech SpA, an Italian commercial lottery operator and provider of gaming technology, announced on Wednesday a share repurchase programme for up to 9.5 percent of the company’s capital.

GTech is acquiring U.S.-based gaming supplier 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 expected to be completed in the first half of 2015.

The share buyback programme on the open market “is designed to ensure the regular trading of GTech shares in the event that anomalous movements occur due to excess volatility or lack of liquidity, pending the acquisition of IGT,” the Italian firm said in a statement.

GTech also announced that its board of directors has formally approved the cross-border merger of the firm into U.K.-based Georgia Worldwide Plc. The merger is part of the acquisition deal of IGT, which will also be merged into Georgia Worldwide.

Upon completion of these transactions, Georgia Worldwide will become the parent holding company for the combined operations of GTech and IGT, with its registered office in London. The group will have operating headquarters in Las Vegas and Providence, in the United Stares, and Rome, Italy. It will be listed in the New York Stock Exchange.

The name of Georgia Worldwide may change before the effective date of the merger, GTech noted.

Following the completion of the merger, current shareholders of IGT and GTech will hold approximately 20 percent and 80 percent of Georgia Worldwide, respectively. Italian family-owned private group De Agostini SpA, which now controls 59 percent of GTech, will have a 47-percent stake in the new entity.


  • tweet
Related articles
  • SPAC partner in Okada Manila listing sues Universal Ent side
    SPAC partner in Okada Manila listing...

    Feb 07, 2023  

  • IGT and Novomatic’s Greentube in patent licensing deal
    IGT and Novomatic’s Greentube in...

    Jan 19, 2023  

More news
  • MGM China had record market share in Jan: COO Wang
    MGM China had record market share in...

    Feb 09, 2023  

  • HK singer Joey Yung to open residency shows for Studio City
    HK singer Joey Yung to open residency...

    Feb 09, 2023  


Latest News

MGM China had record market share in Jan: COO Wang

MGM China had record market share in Jan: COO Wang

Feb 09, 2023  

Macau casino operator MGM China Holdings Ltd had a “record” market share in January, and its venues were the “highest-earning businesses” in the portfolio of the majority owner MGM Resorts...
Read More
HK singer Joey Yung to open residency shows for Studio City

HK singer Joey Yung to open residency shows for Studio City

Feb 09, 2023  

Wynn to spend up to US$220mln in 2023 capex in Macau

Wynn to spend up to US$220mln in 2023 capex in Macau

Feb 09, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"The company will scrutinise the [26 Capital] lawsuit and properly deal with it"

Universal Entertainment

Japanese firm that controls the Okada Manila casino resort in the Philippines



Most Popular

  • Macau mulls subsidy of up to US$62 per overseas visitorMacau mulls subsidy of up to US$62 per overseas visitor February 7, 2023
  • Macau early Feb average daily GGR higher than Jan: JPMMacau early Feb average daily GGR higher than Jan: JPM February 6, 2023
  • LVS ranked by S&P as most sustainable casino sector firmLVS ranked by S&P as most sustainable casino sector… February 8, 2023
  • Ex-junket boss Levo Chan aimed to go to Taiwan: policeEx-junket boss Levo Chan aimed to go to Taiwan: police February 7, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us