International Game Technology CEO Discusses Benefits Of Merging With Parent GTECH SpA
Shares of International Game Technology (NYSE: IGT) closed almost 6 percent up on Tuesday following the official merger of the company with its parent company GTECH SpA (ADR) (OTC: GTKYY). The merged entity will be called International Game Technology PLC.
International Gam Technology's CEO Marco Sala was on CNBC Tuesday to discuss the deal that will see the world's biggest slot machine maker joining forces with the world's largest global lottery business.
Time Taken For Completing The Deal
"It's one year and it has been a long period of time. But, look, this was a company that was 12 years ago one lottery in Italy," Sala said.
"Now we are here at the New York Stock Exchange becoming the leading company of this industry. Being number one in lottery, number one in the gaming machine space and even in the interactive space."
Benefits Of The Merger
Sala was asked what the increased scale of the company will now allow it to do. He replied, "I think that the most important thing is that we are already serving 100 governments in the world. Governments are looking at regulated business, regulated gaming, as an opportunity to increase their revenues.
"And with this combination – with the portfolio we have – we are able to follow any development that they might have in mind."
On the company's outlook for growth, Sala said, "Yes, I think the market is expected to grow over the next years.
"We are seeing, in the last months, some pickup in the gaming revenues here in U.S. If this trend will be confirmed, we can expect commercial operators buying more machines over time."
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