GTECH S.p.A., the company that took control of pioneer casino gaming company International Game Technology (IGT) in July 2014 announced that the new company formed by the merger agreement between the two companies is to move forward in the lottery and gaming industry using the IGT trade name. The initiative pertains to the rebranding of UK-based holding company Georgia Worldwide PLC, referred to as the “NewCo” created in 2014 as part of the GTECH-IGT acquisition and merger agreements, into International Game Technology PLC.
In addition to the adoption of the IGT trade name, the declaration also revealed the new logo, which draws on the significant brand ownership of the two merged entities, as the logo joins together the iconic GTECH globe and the IGT brand name.
The overall plan that the merged entities will pursue after the completion of the acquisition proceedings is to see the transformation of IGT into becoming the leading global provider of original end-to-end solutions to government-backed gaming corporations and to commercial regulated gaming businesses. Under the IGT brand, the combined entities aim to transform the lottery and gaming businesses by furnishing the most advanced technology and novel gaming content.
The GTECH announcement also elaborated on the consolidated GTECH and IGT resources, experience and expertise, to which the organizations will be structured as a customer-oriented entity operating in North America, in Italy as well as internationally, through four business units. Following GTECH’s success-proven organizational structure, there will be two business units for the North America-facing operation, namely the North America Lottery and the North America Gaming.
The North America Gaming has the global responsibility of developing, manufacturing, supplying and marketing of IGT’s entire gaming products, which include interactive gaming content, sportsbook offerings and the social casino games offered via the Facebook-based DoubleDown Casino. The North America Lottery, on the other hand, is responsible for bringing growth to the full suite of products delivered to the World Lottery Association customers of the company.
The third unit is the existing Italy-based GTECH business, which will continue to operate as is. The fourth is the International business unit, in charge of the tactical management and development of all IGT business interests and operations located outside of the North American and Italian regions. Both business units will receive support from the North America Gaming and North America Lottery units in terms of product development, manufacturing, servicing, and marketing accordingly.
The Finance, Human Resources, and Legal aspects of the company will be managed globally through the UK located corporate headquarters. The new IGT will continue to maintain operating headquarters in Las Vegas, Nevada and Providence, Rhode as well as in Rome, Italy. Once the acquisition and merger transaction proceedings come to completion, the merged GTECH and IGT organization including all inherited IGT international subsidiaries, will be listed under the symbol IGT in the New York Stock Exchange.
GTECH CEO Marco Sala, who will be known in the near future as the CEO of International Game Technology PLC enthused about the new executive team, stating that they have brought together proven leaders who will work together in forming a potent lottery and gaming firm that has the capability to furnish leadership and value to customers worldwide.
