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Tuesday, November 4, 2014

Shareholders of Italy's GTECH approve takeover of U.S. IGT, (NYSE: IGT)

Shareholders of GTECH on Tuesday approved the Italian lottery group's takeover of U.S. slot-machine maker International Game Technology, a tie-up aimed at creating a global gaming company to be listed on Wall Street. The new entity will have more than $6 billion in pro-forma revenues, GTECH said in July when it announced the $4.7 billion acquisition of the Las Vegas-based group.GTECH and IGT will be combined into a newly formed holding company named Georgia Worldwide plc with corporate headquarters in Britain.A 97-percent majority of GTECH shareholders attending a meeting in Rome approved the tie-up.The new entity will be listed on the New York Stock Exchange, while both GTECH's and IGT's shares will be delisted from Milan's and New York's stock markets respectively.

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. Shares of IGT fell by 0.12% or $-0.02/share to $16.37. In the past year, the shares have traded as low as $12.14 and as high as $19.61. On average, 3103910 shares of IGT exchange hands on a given day and today's volume is recorded at 1846500.