LONDON, March 16, 2016 /PRNewswire/ -- Lottomatica,
a subsidiary of International Game Technology PLC ("IGT") (NYSE:
IGT), has entered into a consortium to bid for the Italian Lotto
tender. In addition to Lottomatica, consortium members include
Italian Gaming Holding (IGH), a subsidiary of SAZKA Group a.s. and
EMMA Capital LTD; Arianna 2001 S.p.A., an entity affiliated with
the Federation of Italian Tobacconists; and Novomatic Italia S.p.A.
The consortium members bring the strategic and operational
expertise and financial resources to deliver an unparalleled
solution to provide for the continued success of the Lotto game in
Italy.
Under the terms of the consortium agreement, Lottomatica will
serve as the principal operating partner to fulfill the
requirements of the Lotto license. The consortium submitted its bid
on March 16, 2016, in accordance with
the submission deadline for the Lotto tender.
If the consortium is awarded the Lotto concession, a joint
venture company will be established. Lottomatica will have
61.5% equity ownership and IGH, Arianna 2001, and Novomatic Italia
will have 32.5%, 4%, and 2% share, respectively. Lottomatica
will appoint a majority of the joint venture board and will enter
into a contract with the joint venture to provide technology
products and services for the Lotto.
If the parties are unable to reach agreement upon certain
specified matters or if the joint venture's cash flow generated in
the first year of operation falls below a pre-determined level, IGH
may put its entire joint venture interest to Lottomatica and, in
certain cases, Lottomatica may exercise a call option to acquire
IGH's entire joint venture interest.
Tomorrow, (Thursday, March 17),
IGT will host a conference call at 8:00 a.m.
EDT / 12:00 p.m. GMT /
1:00 p.m. CET to present its fourth
quarter and full year 2015 results. Listeners may access a live
webcast of the conference call along with accompanying slides under
"News, Events and Presentations" on IGT's Investor Relations
website at www.IGT.com. A replay of the webcast will be available
on the website following the live event. To listen by telephone,
the dial in number is +44 (0) 20 3427 1904 for participants in the
United Kingdom and +1-646-254-3362
for listeners outside the United
Kingdom. The conference ID/confirmation code is 6623346. A
telephone replay of the call will be available for one week at +44
(0) 20 3427 0598 or +1-347-366-9565 using the conference
ID/confirmation code 6623346.
About IGT
IGT (NYSE:IGT) is the global leader in
gaming. We enable players to experience their favorite games across
all channels and regulated segments, from Gaming Machines and
Lotteries to Interactive and Social Gaming. Leveraging a wealth of
premium 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 13,000 employees. For more
information, please visit www.IGT.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release may contain forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning IGT and other matters.
These statements may discuss goals, intentions and expectations as
to future plans, trends, events, dividends, results of operations
or financial condition, or otherwise, based on current beliefs of
the management of IGT 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'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 the
forward-looking 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, or that the combined companies will not
realize estimated cost savings, synergies, growth or other
anticipated benefits or that such benefits may take longer to
realize than expected; risk that the Company will be unable to pay
future dividends to shareholders or that the amount of such
dividends may be less than anticipated; 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 IGT's business, including those described in IGT's annual
report on Form 20-F for the financial year ended December 31, 2014 and other documents filed from
time to time with the Securities and Exchange Commission (the
"SEC"), which are available on the SEC website at
www.sec.gov and on the investor relations section of IGT's
website at www.IGT.com. Except as required under applicable law,
IGT does not assume any obligation to update the forward-looking
statements. Nothing in this news release is intended, or is to be
construed, as a profit forecast or to be interpreted to mean that
earnings per IGT share for the current or any future financial
years will necessarily match or exceed the historical published
earnings per IGT share, as applicable. All forward-looking
statements contained in this news release are qualified in their
entirety by this cautionary statement. All subsequent written or
oral forward-looking statements attributable to IGT, or persons
acting on its behalf, are expressly qualified in their entirety by
this cautionary statement.
Contact:
Robert K.
Vincent, Corporate Communications, toll free in
U.S./Canada (844) IGT-7452;
outside U.S./Canada (401)
392-7452
James Hurley, Investor Relations,
(401) 392-7190
Simone Cantagallo, (+39) 06
51899030; for Italian media inquiries
Logo - http://photos.prnewswire.com/prnh/20150406/196736LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/international-game-technology-plc-subsidiary-lottomatica-enters-into-consortium-to-bid-for-italian-lotto-concession-300237138.html
SOURCE IGT