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International Game Technology
International Game Technology PLC (IGT), formerly Gtech S.p.A. and Lottomatica S.p.A., is a multinational gambling company that produces slot machines and other gambling technology. The company is headquartered in London, with offices in Rome, Providence, Rhode Island, and Las Vegas. It is controlled, with a 42 percent stake, by De Agostini, which had acquired a majority stake in Lottomatica in 2002.
The company began in Italy as Lottomatica. It acquired Gtech Corporation in 2006, with its long history of scandals, and then changed its own name to Gtech in 2013. In 2015, the company acquired American gambling company International Game Technology and again adopted the acquired company's name as its own.
In 2025, the company is poised to spin-off its gaming division for a merger with Everi, with the new gaming entity to be majority-acquired by Apollo Global Management, while De Agostini Group retains a minority stake in the new company, which will also acquire the International Game Technology (IGT) name. Pending regulatory approvals; IGT's remaining lottery business will be spun-off into a new entity and renamed following the transaction, continuing to trade on the NYSE, under new call letters.
The company began as Consorzio Lottomatica, an Italian lottery operator. De Agostini, a family-owned conglomerate in Italy, acquired a majority stake in Lottomatica in 2002.
In 2006, Lottomatica acquired Gtech Corporation, a Rhode Island-based lottery and gaming technology company, which it ran as a U.S. subsidiary, changing its name to Gtech S.p.A. in 2013.
IGT was listed as a creditor in 2014, when Atlantic City casino owner Trump Entertainment Resorts declared its fourth bankruptcy.
In April 2015, Gtech acquired American company International Game Technology (1975–2015), the world's largest slot machine manufacturer, for $6.4 billion, including $4.7 billion in cash and $1.7 billion in assumed debt. The companies combined under a new holding company based in the United Kingdom, and the Gtech name was replaced International Game Technology.
The company was fined $500,000 by the United States Securities and Exchange Commission (SEC) under the Dodd-Frank Act in 2016, for having illegally fired an internal whistleblower after the employee reported financial statements irregularities to senior management.
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International Game Technology
International Game Technology PLC (IGT), formerly Gtech S.p.A. and Lottomatica S.p.A., is a multinational gambling company that produces slot machines and other gambling technology. The company is headquartered in London, with offices in Rome, Providence, Rhode Island, and Las Vegas. It is controlled, with a 42 percent stake, by De Agostini, which had acquired a majority stake in Lottomatica in 2002.
The company began in Italy as Lottomatica. It acquired Gtech Corporation in 2006, with its long history of scandals, and then changed its own name to Gtech in 2013. In 2015, the company acquired American gambling company International Game Technology and again adopted the acquired company's name as its own.
In 2025, the company is poised to spin-off its gaming division for a merger with Everi, with the new gaming entity to be majority-acquired by Apollo Global Management, while De Agostini Group retains a minority stake in the new company, which will also acquire the International Game Technology (IGT) name. Pending regulatory approvals; IGT's remaining lottery business will be spun-off into a new entity and renamed following the transaction, continuing to trade on the NYSE, under new call letters.
The company began as Consorzio Lottomatica, an Italian lottery operator. De Agostini, a family-owned conglomerate in Italy, acquired a majority stake in Lottomatica in 2002.
In 2006, Lottomatica acquired Gtech Corporation, a Rhode Island-based lottery and gaming technology company, which it ran as a U.S. subsidiary, changing its name to Gtech S.p.A. in 2013.
IGT was listed as a creditor in 2014, when Atlantic City casino owner Trump Entertainment Resorts declared its fourth bankruptcy.
In April 2015, Gtech acquired American company International Game Technology (1975–2015), the world's largest slot machine manufacturer, for $6.4 billion, including $4.7 billion in cash and $1.7 billion in assumed debt. The companies combined under a new holding company based in the United Kingdom, and the Gtech name was replaced International Game Technology.
The company was fined $500,000 by the United States Securities and Exchange Commission (SEC) under the Dodd-Frank Act in 2016, for having illegally fired an internal whistleblower after the employee reported financial statements irregularities to senior management.