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Author Topic: IGT will be no more (sold to GTECH)  (Read 3578 times)

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Offline UNIMAN

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IGT will be no more (sold to GTECH)
« on: July 16, 2014, 03:48:44 PM »
Surprised I didn't see it here already. IGT to be sold to CTECH, a lottery giant in the United Kingdom. Looks like the IGT name will be replaced with CTECH.
Looks like an end to an era. Gonna be hard to get used to!

http://www.reviewjournal.com/business/casinos-gaming/igt-sold-64-billion-deal-lottery-giant-gtech.


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Offline Harp

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Re: IGT will be no more (sold to GTECH)
« Reply #1 on: July 16, 2014, 04:05:17 PM »
It's GTECH and they are an Italian company, the new company will be setup and registered in the UK

http://yogonet.com/international/2014/07/16/gtech-secures-purchase-of-igt-for-usd-4-7-billion

So if IGT was considered the 300LB Gorilla before the GTech buyout, what will this new company be considered? if you are a major Casino Operator there will be very little change, if you are a small operator or reseller do you think things will get better or worse
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Offline CVslots

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Re: IGT will be no more (sold to GTECH)
« Reply #2 on: July 16, 2014, 10:20:05 PM »
Uh oh...guess I need to take a closer look at my portfolio! IGT stock has been doing very well in the last 4-6 weeks,,but that was after an ever-so-surprising rise! Time to  :sherlock: :sherlock: :sherlock:
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Offline Yoeddy1

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Re: IGT will be no more (sold to GTECH)
« Reply #3 on: July 16, 2014, 11:29:28 PM »
Buy up the good kits while you can!  I'm tellin ya!

Jason
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Offline knagl

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Re: IGT will be no more (sold to GTECH)
« Reply #4 on: July 17, 2014, 12:47:29 AM »
Holy cow!  That's huge news.
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Re: IGT will be no more (sold to GTECH)
« Reply #5 on: July 17, 2014, 07:39:49 AM »
I wonder if this will only be a behind-the-scenes change. There's clearly value in the IGT brand, products and operations. I just can't imagine they'd toss all that out the door. But then again ...

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Re: IGT will be no more (sold to GTECH)
« Reply #6 on: July 17, 2014, 03:41:32 PM »
Quote from: DoubleZero on July 17, 2014, 07:39:49 AM
I wonder if this will only be a behind-the-scenes change. There's clearly value in the IGT brand, products and operations. I just can't imagine they'd toss all that out the door. But then again ...

I sensationailized my post title just a bit. Looks like the IGT name may be gone, slight chance the name won't disappear. The products sure won't disappear! Might even get better! Will be interesting to watch.

Newest info; http://www.reviewjournal.com/business/casinos-gaming/igt-gtech-deal-called-plus-industry
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Re: IGT will be no more (sold to GTECH)
« Reply #7 on: July 17, 2014, 03:47:42 PM »
Recently just today talked to some senior tech's and they fell good about it/this. (in the industry).
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Re: IGT will be no more (sold to GTECH)
« Reply #8 on: July 17, 2014, 08:10:32 PM »
I bought at 13.50, sold at 17.00. They said that if I held on I would make about 18.50 between cash and shares.
I am waiting for it to drop again.
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Re: IGT will be no more (sold to GTECH)
« Reply #9 on: July 17, 2014, 09:03:50 PM »
Yah, there's some investigation in the works. Seems they have apparently undervalued the stock price...we'll see!!!
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