IGT and Lottomatica Announce Partnership in Italy
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.
International 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.
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.
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.
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