New Life Games LLC

Gaming Industry News => Jays Gaming and Industry News => Topic started by: UNIMAN on July 16, 2014, 03:48:44 PM

Title: IGT will be no more (sold to GTECH)
Post by: UNIMAN 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. (http://www.reviewjournal.com/business/casinos-gaming/igt-sold-64-billion-deal-lottery-giant-gtech.)
Title: Re: IGT will be no more (sold to GTECH)
Post by: Harp 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 (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
Title: Re: IGT will be no more (sold to GTECH)
Post by: CVslots 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:
Title: Re: IGT will be no more (sold to GTECH)
Post by: Yoeddy1 on July 16, 2014, 11:29:28 PM: Buy up the good kits while you can! I'm tellin ya!

Jason
Title: Re: IGT will be no more (sold to GTECH)
Post by: knagl on July 17, 2014, 12:47:29 AM: Holy cow! That's huge news.
Title: Re: IGT will be no more (sold to GTECH)
Post by: 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 ...
Title: Re: IGT will be no more (sold to GTECH)
Post by: UNIMAN 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 (http://www.reviewjournal.com/business/casinos-gaming/igt-gtech-deal-called-plus-industry)
Title: Re: IGT will be no more (sold to GTECH)
Post by: 777sizzler 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).
Title: Re: IGT will be no more (sold to GTECH)
Post by: jay 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.
Title: Re: IGT will be no more (sold to GTECH)
Post by: CVslots 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!!!