IGT will unveil expanded core portfolio with a vast variety of new player experiences at ICE Totally Gaming in London in February.

IGT has announced the appointment of Jim Veevaert as the new vice-president of games at DoubleDown Casino.

Veevaert will oversee the long-term game strategy for DoubleDown Casino on Facebook and mobile devices. 

“IGT's DoubleDown Casino is the authentic social casino experience, and I'm excited to be joining the team here in Seattle. DoubleDown Casino is transforming gaming entertainment, and I'm passionate to bring great games to players across the web and on mobile devices around the world,” said Veevaert.

“Jim is truly at the top of his game, and he brings great talents that complement the strong existing senior leadership team at DoubleDown. We look forward to propelling DoubleDown's ascent, fueled by Jim's leadership and ingenious vision, as we deliver best-in-class gaming content and player experiences,” commented John Vandemore, IGT’s executive vice-president of emerging businesses, chief financial officer and treasurer. 

Caesars Entertainment Corporation and International Game Technology (IGT) will be launching the first multistate progressive jackpot network in the US.

IGT has developed the multistate wide area progressive jackpot network Powerbucks which will be launched by Caesars in approved jurisdictions, beginning with New Jersey and Nevada, allowing players from the two states to play for a combined jackpot prize. 

Melissa Price, Caesars Entertainment’s senior vice-president of gaming said: “Together, IGT and Caesars Entertainment own the legacy of creating the most millionaires in the industry; now with Powerbucks, we're creating a whole new level of excitement around winning.”

“We're excited to transform the jackpot experience in partnership with Caesars Entertainment. With Powerbucks, IGT re-imagines casino gaming thrills by creating more winners, more often, across multiple states. We all win when players engage more, and Powerbucks enables our customers to attract more players to casinos with the promise of more jackpots,” commented Eric Tom, senior vice-president of global sales at IGT. 

IGT has announced a partnership with bwin.party digital entertainment to launch many of IGT’s top-performing interactive games on the bwin platform.

Bwin.party has recently launched online poker and casino offerings in New Jersey under the license of Borgata Hotel Casino and Spa, which is a long-term IGT land-based casino customer, for distribution in New Jersey at nj.partypoker.com and internationally at partypoker.com, bwin.com, as well as at other bwin.party brands in nationally regulated European markets. 

Bwin.party will gain access to IGT’s complete game library via a one-time, simple integration to the IGT rgs (remote game server) solution.

Golan Shaked, Director of Games at bwin.party, said: “From the casino floor to online and mobile devices, IGT games are worldwide player favorites. Adding IGT’s portfolio of instantly recognizable, market-attuned content to our brands including bwin, partypoker and PartyCasino will provide great, additional fun and entertainment for our players.”

Leigh Nissim, IGT Commercial Director of Interactive, added: “This agreement with bwin.party is a key milestone in our journey across regulated markets – it significantly extends the presence of IGT games in key markets around the world. Bwin.party is one of the biggest igaming operators on the planet and our partnership confirms that as a supplier of premium casino content in regulated markets, IGT is a standout choice.”

Gambling and lottery supplier group GTECH has revealed that it’s talking with IGT about buying the company. 

GTECH has hired advisers to help in the talks. The company told Reuters news agency that the transaction could involve the use of a mix of cash and equity as consideration and that it does not expect needing a cash call to fund the acquisition. 

In coordination, IGT has also issued a statement:

"IGT regularly considers, and on occasion explores, a broad range of strategic alternatives, including but not limited to business combinations, changes to our capital structure & adjustments to our portfolio of businesses, with the goal of maximizing shareholder value.

"The IGT Board of Directors and senior management are currently engaged in such an exploration, but no decisions have been made by the Board regarding any particular alternative available to the Company and there can be no assurances that any transaction or other strategic change will be entered into as a result of the current exploration of alternatives.

"IGT does not intend to discuss or disclose developments with respect to this general subject unless & until the Board has approved a definitive course of action."

GTECH will acquire IGT for $6.4bn.

The purchase works out at $18.25 per share and comprises of $4.7bn in cash and stock and $1.7bn in debt assumption. The companies expect to achieve $280m in synergies.

The new company will be based in London and traded on the New York Stock Exchange as GTECH and will no longer trade as IGT in New York and as Lottomatica in Italy.

Patti Hart, CEO of IGT said this merge “redefines the future of the gaming industry.”

“This transaction is transformational for our business. With limited overlap in products and customers, the combined company will enjoy leading positions across all segments,” said Marco Sala, GTECH SEO. 

Sala will take on the function of CEO of the new company, which will have its corporate headquarters in the UK and operating headquarters in Nevada and Rome. After the merger, GTECH shareholders will own 80 per cent of the company and IGT shareholders 20 per cent. De Agostini, which owns 59 per cent of DTECH, will own 47 per cent of the new company. 

GTECH expects to finance the acquisition with cash on hand and borrowing. It has binding commitments for financing from Credit Suisse, CitiCorp and Barclays for $10.7bn.

 The new company’s 13-member board of directors will include five directors appointed by IGT from IGT’s existing board, including IGT chairman Phil Satre, who will be chairman of the new company. Patti Hart will serve on the board.

 GTECH will appoint seven members, at least of four of whom will be independent and one of whom will serve as a vice-chairman.

The US antitrust authorities have granted early termination of the required waiting period to GTECH’s acquisition of IGT.

As previously announced on July 16, 2014, GTECH and IGT entered into a definitive merger agreement under which GTECH will acquire IGT in a transaction valued at $6.4bn, comprised of $4.7bn in cash and stock, and the assumption of $1.7bn in net debt.

Under the terms of the transaction, GTECH and IGT will combine under a newly-formed holding company organised in the UK.

The transaction, which has been approved by the boards of directors of both companies, is currently expected to be completed in the first or second quarter of 2015.