Tag Archives: new york

IGT Q2 earnings hit by $122 million debt costs

Reporting for the first time as a single entity, IGT Plc the merged gambling and lottery technology operator of GTECH and International Game Technology (IGT) (merger date 7 April 2015), presented results for Q2 2015 trading. Due to its merger, IGT Plc governance noted that a number of items affect the comparability of its reported results for Q2 2014. In …

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DraftKings partners with ‘The Garden’

US daily fantasy sports operator Draftkings, continues its high level marketing expansion with the conformation of a multi-year marketing agreement with New York sports and entertainment venue Madison Square Garden Co. DraftKings will displace rival operator FanDuel as official fantasy sports partner of Madison Square Garden (MSG). The partnership will see the DaftKings brand promoted throughout the MSG venue, the …

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GTECH & IGT begin trade as International Game Technology PLC

GTECH SpA has today completed its $6.4 billion acquisition of Nevada based gambling technology provider International Game Technology (IGT) , finalising its nine month acquisition process. The acquisition hurdles will see GTECH and IGT operate under the corporation name International Game Technology. The merged company will begin trading its new share on the New York Stock Exchange later today. Last …

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Investors sue 500.com over misleading IPO representation

New York listed Chinese sports lottery operator 500.com has been hit with multiple US investor class action federal suites over misrepresentation of its business practices and operations in the build up to its December 2013 IPO. A group of US law firms representing 500.com investors have filed a federal securities fraud class action against the operator. They claim that the …

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NBA chief trying to persuade other sports on betting legalisation

Outspoken NBA Commissioner Adam Silver has been trying to persuade other US sports to take a look at legalising sports betting in order to bring all the illegal betting that currently takes place in to a transparent and regulated environment. Speaking with ESPN, Silver suggested that the other sports were willing to at least take a look at his idea. …

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NY Giants John Mara opposes New Jersey’s attempts to legalize sports betting

New York Giants Co-owner John¬†Mara has stated his opposition to New Jersey attempts to legalise sports betting. In a public address John Mara stated that the New York Giants management would oppose to back any attempts by New Jersey senators and representatives to legalise sports betting within their state. Mara has further expressed that his stance is supported by other …

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GTECH set to buy IGT for $4.7 billion

After weeks of speculation GTECH SpA have confirmed that it will buy Las Vegas based slots machine and gambling provisions manufacturer International Game Technology (IGT) for $4.7 billion (¬£2.74 billion). Business news sources speculate that GTECH have structured the purchase of IGT using cash and stock equity. The further inclusion of $1.7 billion in net debt, will see the total …

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