GTECH Buys IGT in Bet on Slot Machines and North America Gambling

Italy's GTECH said it will buy U.S. slot machine maker International Game Technology for $6.4 billion, including debt. As GTECH is a lottery company, The Deal's Paul Whitfield explains why the company has decided to move into slot machines and what kind of growth it expects in slots and gambling in North America. This is the second deal within the industry in the past month, after Australia's Aristocrat Leisure paid nearly $1.3 billion for Video Gaming Technologies, Whitfield also breaks down what's behind all of the recent consolidation. He also reveals whether we can expect more bidders to emerge for IGT and rival GTECH's offer. TheStreet's Brittany Umar has details.