• 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

IGT shareholders get more cash from GTech merger

Apr 03, 2015 Newsdesk Industry Talk, Latest News  


IGT shareholders get more cash from GTech merger

The shareholders of Nevada-based slot machine maker International Game Technology (IGT) will be entitled to more cash than initially estimated from the merger with Italy-based GTech SpA, a global supplier of technology and services to the casino and lottery industries.

The two firms on Thursday announced that IGT shareholders would be entitled to receive US$14.3396 in cash plus 0.1819 ordinary shares of the newly formed holding company for each share of IGT common stock.

GTech shareholders will receive one ordinary share of the new firm for each share of GTech.

Shares in the new entity, to be called International Game Technology Plc, will start trading in the New York Stock Exchange under the “IGT” ticker symbol on April 7.

The final per share merger consideration payable to IGT shareholders was determined pursuant to “the calculation of the ‘Gold Share Trading Price’ of US$20.2379, wherein an average U.S. dollar converted volume-weighted average price (VWAP price) for GTech shares was calculated from 10 trading days selected randomly from a 20-trading day window,” IGT and GTech said in a statement.

When the US$6.4-billion cross-border merger was first announced in July last year, it was estimated that IGT shareholders would receive US$13.69 in cash plus 0.1819 ordinary shares of the new company for each share of IGT common stock.

GTech’s shares will cease trading on the Italian Stock Exchange as of Friday.

“The merger will become effective at 12.01am GMT on Tuesday, 7 April 2015, and immediately thereafter the acquisition of U.S.-based IGT will be completed,” GTech said on Wednesday.


  • tweet
Related articles
  • Industry, investor horror at Okada Manila events: Ader
    Industry, investor horror at Okada...

    Jun 14, 2022  

  • IGT floor system, slots for newcomer Cebu casino NUSTAR
    IGT floor system, slots for newcomer...

    May 12, 2022  

More news
  • Maybe new Macau mass Covid test, community spread still
    Maybe new Macau mass Covid test,...

    Jun 24, 2022  

  • Blackstone clinches US$6.15bln takeover of Crown Resorts
    Blackstone clinches US$6.15bln takeover...

    Jun 24, 2022  


Latest News

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

It is likely that Macau will shortly have a third round of citywide centre-based Covid-19 testing in little more than a week, after the results so far of a second mass test – that was due to finish...
Read More
Blackstone clinches US$6.15bln takeover of Crown Resorts

Blackstone clinches US$6.15bln takeover of Crown Resorts

Jun 24, 2022  

Jeju still studying online gaming for its casinos: govt

Jeju still studying online gaming for its casinos: govt

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$5.8 million

Amount that each Macau casino operator paid for the circa six-month extension of their respective contract



Most Popular

  • Okada Manila control dispute back in court: UniversalOkada Manila control dispute back in court: Universal June 22, 2022
  • Macau ops sign contract extension, eye fresh public tenderMacau ops sign contract extension, eye fresh public tender June 23, 2022
  • Macau gaming ops contract rollover signed today: CEMacau gaming ops contract rollover signed today: CE June 23, 2022
  • Macau shuts leisure sites amid Covid, casinos can still runMacau shuts leisure sites amid Covid, casinos can still run June 23, 2022
  • Claimed US$3.5mln scam on Chinese, Daegu Casino: reportsClaimed US$3.5mln scam on Chinese, Daegu Casino: reports June 22, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us