STOCKS TO BUY: We have identified several stocks that can potentially TRIPLE. Learn more!

IGT And Lottomatica Announce Partnership In Italy

Stock quotes in this article: IGT 

LAS VEGAS, ROME, Italy, and PROVIDENCE, R.I., March 13, 2012 /PRNewswire/ -- International Game Technology (NYSE: IGT) and Lottomatica Group (FTSE: LTO) today announced that they have entered into a strategic relationship to bring game content and game terminals to the Italian VLT (Comma 6b) gaming market.

"IGT is excited about stepping into this large and growing market," said Patti Hart, IGT chief executive officer. "Partnering with Lottomatica will allow us to engage the Italian VLT players with our leading game content. As a global leader in gaming solutions, we are proud to partner with the leading operator of gaming entertainment in Italy and one of the largest gaming companies in the world."

This strategic partnership provides entry for IGT into the Italian VLT market; a market reported to be in excess of 2 billion dollars in gross gaming revenue, with Lottomatica, currently the leading operator in the VLT market.

 "We are proud to partner with IGT," said Marco Sala, Lottomatica Group chief executive officer. "Together we will not only increase our significant footprint in the VLT market, but we will be able to combine our resources to provide the Italian players with new and exciting games that will help increase our competitive edge in the market, leveraging on the integration with the Spielo VLT system and games."

IGT game content will be available to the Lottomatica Group in Italy VLT for a period of exclusivity. Lottomatica will deliver IGT game content to a high percentage of the installed base of VLT's in Lottomatica's network, which, with nearly 9,000 units, is currently the largest active VLT network in Italy.

In addition to licensing game content, IGT will also partner with Lottomatica to integrate IGT's VLT terminals on the Spielo VLT system, which is currently adopted in Italy by Lottomatica and several other concessionaires.

About IGTInternational Game Technology (NYSE: IGT) is a global leader in the design, development and manufacture of gaming machines and systems products, as well as online and mobile gaming solutions for regulated markets. More information about IGT is available at www.IGT.com or follow IGT on Twitter at @IGTNews or Facebook at www.facebook.com/IGT.

IGT Resources:

About Lottomatica Group Lottomatica Group is a market leader in the Italian gaming industry and one of the largest Lottery operators in the world based on total wagers and, through its subsidiaries including GTECH Corporation, is a leading provider of lottery and gaming technology solutions worldwide. Together, the companies are the only vertically integrated full service lottery group. Lottomatica Group is majority owned by De Agostini, which belongs to a century-old publishing and media services group. Lottomatica is listed on the Stock Exchange of Milan under the trading symbol "LTO". In 2011, Lottomatica Group had approximately euro 3.0 billion in revenues, based upon preliminary results, and approximately 8,000 employees in over 60 countries.

This press release and earlier ones are available on Lottomatica Group and GTECH websites : www.lottomaticagroup.com   - www.gtech.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This press release contains forward-looking statements that involve risks and uncertainties. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including, among others, the possibility that the anticipated benefits of the strategic partnership might not be realized. More information about potential factors that could affect IGT's business and financial results is included in IGT's filings with the Securities and Exchange Commission, including under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in IGT's Annual Report on Form 10-K for its 2011 fiscal year and its Quarterly Report on Form 10-Q for its fiscal quarter ended December 31, 2011, and available on the SEC website at www.sec.gov and on the investor relations section of IGT's website at www.IGT.com . All information provided in this release is as of March 13, 2012, and IGT does not intend, and undertakes no duty, to update this information.

SOURCE IGT

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
TRY IT FREE

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
TRY IT FREE
New! $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREE

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
TRY IT FREE

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREE

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass + 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
TRY IT FREE

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 15,112.19 -206.04 -1.35%
NASDAQ 3,443.20 -38.98 -1.12%
S&P 500 1,628.93 -22.88 -1.39%
US 10 Yr 2.311% +0.129

Brokerage Partners

Advertising Partners
Special Features

Free Newsletters from TheStreet

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy. Manage Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs