LONDON, April 7, 2015
/PRNewswire/ -- GTECH S.p.A. and International Game Technology
today announced the completion of the combination of their
businesses, creating a global leader in delivering innovative
end-to-end solutions across the full spectrum of regulated gaming.
The combined company's name is International Game Technology PLC
("IGT"). It began trading today on the New York Stock Exchange
under the ticker symbol 'IGT'.
IGT is uniquely positioned to serve global commercial and
government clients with innovative content, cutting-edge
technology, and a suite of products that delivers exciting gaming
experiences through every channel, including lotteries, gaming
machines, social, mobile, and interactive.
IGT is now positioned number one both in lottery and gaming
machines.
IGT's customer base presents a powerful growth opportunity for
the two highly complementary legacy businesses. IGT is the
preferred gaming and lottery partner in more than 100 countries
around the world with combined revenues of approximately
$6 billion.
"Regulated gaming clients across both the government and
private sectors are seeking reliable, secure and innovative ways to
increase revenue and drive profitability, and IGT is the trusted
go-to partner in this space," said Marco Sala, CEO of IGT. "We will provide
top-performing content across multiple platforms enabling players
to experience their favorite games across all regulated segments
and channels, all with our unwavering Customer First
approach. With a truly global reach, we will share expertise
and experience both geographically and across market segments. The
combination of GTECH and IGT is a winning combination."
"We are pleased to welcome IGT to the NYSE," said
Thomas W. Farley, NYSE Group
President. "IGT is a premier global gaming operator shaping
the future of entertainment and gaming, and an excellent addition
to the NYSE's community of the world's leading companies."
Mr. Sala has been with GTECH for more than 10 years, most
recently serving as CEO, and has two decades of experience in
executive management positions.
In addition to Mr. Sala, the corporate leadership team will be
comprised of the following:
- Renato Ascoli – Chief Executive
Officer, North America Gaming/Interactive (DoubleDown Casino)
- Walter Bugno – Chief Executive
Officer, International
- Fabio Cairoli – Chief Executive
Officer, Italy
- Michael Chambrello – Chief
Executive Officer, North America Lottery
- Alberto Fornaro – Executive Vice
President and Chief Financial Officer
- Donald R. Sweitzer – Chairman,
IGT Corporation (North America)
and Senior Public Affairs Advisor
- Robert Vincent – Senior Vice
President, Human Resources and Corporate Communications
For b-roll of IGT's products, please
visit https://youtu.be/12iIFWJF9WY.
Cautionary Statement Regarding Forward-Looking
Statements
This communication may contain forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning International Game
Technology PLC ("IGT PLC") and other matters. These statements may
discuss goals, intentions and expectations as to future plans,
trends, events, results of operations or financial condition, or
otherwise, based on current beliefs of the management of IGT PLC as
well as assumptions made by, and information currently available
to, such management. Forward-looking statements may be accompanied
by words such as "aim," "anticipate," "believe," "plan," "could,"
"would," "should,", "shall", "continue", "estimate," "expect,"
"forecast," "future," "guidance," "intend," "may," "will,"
"possible," "potential," "predict," "project" or the negative or
other variations of them. These forward-looking statements are
subject to various risks and uncertainties, many of which are
outside IGT PLC's control. Should one or more of these risks or
uncertainties materialize, or should any of the underlying
assumptions prove incorrect, actual results may differ materially
from those predicted in the forward-looking statements and from
past results, performance or achievements. Therefore, you should
not place undue reliance on such statements. Factors that could
cause actual results to differ materially from those in the
forward-looking statements include (but are not limited to) risks
that the businesses of International Game Technology and GTECH
S.p.A. will not be integrated successfully, following the recent
completion of their business combination, or that the combined
companies will not realize estimated cost savings, value of certain
tax assets, synergies, growth or other anticipated benefits or that
such benefits may take longer to realize than expected; risks
relating to unanticipated costs of integration of the two
companies; reductions in customer spending; a slowdown in customer
payments and changes in customer demand for products and services;
unanticipated changes relating to competitive factors in the
industries in which the company operates; ability to hire and
retain key personnel; the potential impact of the consummation of
the business combination on relationships with third parties,
including customers, employees and competitors; ability to attract
new customers and retain existing customers in the manner
anticipated; reliance on and integration of information technology
systems; changes in legislation or governmental regulations
affecting the company; international, national or local economic,
social or political conditions that could adversely affect the
company or its customers; conditions in the credit markets; risks
associated with assumptions the company makes in connection with
its critical accounting estimates and legal proceedings; and the
company's international operations, which are subject to the risks
of currency fluctuations and foreign exchange controls. The
foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and
uncertainties that affect the company's business, including those
described in IGT PLC's registration statement on Form F-4 and other
documents filed from time to time with the Securities and Exchange
Commission (the "SEC"). Except as required under applicable law,
the company does not assume any obligation to update these
forward-looking statements. Nothing in this announcement is
intended, or is to be construed, as a profit forecast or to be
interpreted to mean that earnings per IGT PLC share for the current
or any future financial years will necessarily match or exceed the
historical published earnings per IGT PLC share, as applicable. All
forward-looking statements contained in this communication are
qualified in their entirety by this cautionary statement. All
subsequent written or oral forward-looking statements attributable
to IGT PLC, or persons acting on its behalf, are expressly
qualified in its entirety by the cautionary statements contained
throughout this communication.
About IGT:
IGT (NYSE: IGT) is the global leader in
gaming. We enable players to experience their favorite games across
all regulated segments and channels, from Gaming Machines and
Lotteries to Interactive and Social Gaming. Leveraging a
wealth of prime content, substantial investment in innovation,
in-depth customer intelligence, operational expertise and
leading-edge technology, our gaming solutions anticipate the
demands of consumers wherever they decide to play. We have a
well-established local presence and relationships with governments
and regulators in more than 100 countries around the world, and
create value by adhering to the highest standards of service,
integrity, and responsibility. IGT has approximately $6 billion in revenues and more than 13,000
employees. For more information, please visit
www.merger.igt.com.
Contact:
Robert K.
Vincent, Corporate Communications, (401) 392-7452
James Hurley, Investor Relations,
(401) 392-7190
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SOURCE International Game Technology PLC (IGT)