In the game Monopoly, players move around a board in an attempt to buy all available property. Within the regulated gaming industry, Italy based GETECH S.p.A. is merging with International Game Technology (IGT), now collectively calling themselves NewCo. After the completion of the merger, NewCo will become a world leader in the industry, with the best parts of each company highlighted. It will have industry leading content as well as leading operator capabilities, with interactive solutions, due to an extensive game library, vast manufacturing and operating abilities from IGT and gaming operations, lottery technology, and service from GETECH.
With the merger, NewCo has positioned itself to advance the industry, with more than $6 billion in proforma revenues and an excess of$2 billion in EBITDA, as of March 31, 2014. It will be a holding company headquartered in the United Kingdom with facilities in Las Vegas, Providence and Rome. They will continue working toward advancing the industry with improved social, mobile and international interactive environments to improve the player experience for as many players as possible. IGT’s previous acquisition of DoubleDown interactive helped to propel them forward in the interactive market. With that background, NewCo has the necessary tools to advance the interactive gaming market.
NewCo has become the race care player that has put hotels on Park Place, Boardwalk, and all the railroads. In the future, if NewCo keeps working as they have, and continue to take advantage of the tools available, they will continue to be a worldwide industry leader, collecting $200 every time they pass GO.
Edited by Adam Brandt