NEW YORK (TheStreet) -- The Italian lottery company GTECH SpA (GTKYY) is said to be in talks regarding the acquisition of International Gaming Technology (IGT), a Las Vegas-based company that makes slot machines, USA Today reports.
Both companies said they are in preliminary talks regarding the acquisition but have not released any details.
The company's also so that while they are discussing plans there can be no guarantee the deal will be finalized.
Shares of International Gaming Technology are flat in early trading.
Separately, TheStreet Ratings team rates INTL GAME TECHNOLOGY as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTL GAME TECHNOLOGY (IGT) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and weak operating cash flow."