Lottomatica captures Spielo parent GTECH
Pub Date: 2/1/2006
It was just a little over two years ago when gaming machine manufacturer Spielo created considerable buzz in the Montana market when they rolled out the popular PowerStation 5 keno machine.
In that short span Spielo, based in Moncton, New Brunswick, Canada, and with an office in Billings, placed over 1,500 units and garnered a near 9 percent market share, rolled out a new keno/poker combination platform, set the standard for daily earnings, and has been bought out and bought out again.
In 2005 international gaming industry heavyweight GTECH bought Spielo to augment its lottery business. Now, Lottomatica SpA of Milan, Italy, has captured GTECH. Lottomatica is controlled by majority shareholder De Agostini SpA, a financial holding group.
It was reported Lottomatica paid $4.8 billion in cash, stock and loans for GTECH.
The expanded company will have a presence in over 50 countries and employ 6,300 with estimated annual revenues of $2 billion. Lottomatica is headquartered in Rome and it is said GTECH will operate as a separate business unit with its headquarters in Rhode Island.
What, if any, changes the transaction will bring to Montana is unclear.