GTECH gains High Court approval for IGT merger

Interactive gaming software and services provider GTECH has been granted approval by the High Court of England and Wales to complete its acquisition of gaming products designer and manufacturer International Game Technology (IGT).

GTECH first announced in July last year that it had struck a deal to acquire IGT in a move that will mark one of the largest mergers in the history of the global gambling industry.

The company has already been granted a series of regulatory approvals for the deal, including from the Nevada Gaming Control Board, which gave the proposed deal the green light last month.

Approval from the High Court will enable GTECH to complete the merger on April 7, subject to the satisfaction or waiver of the remaining conditions precedent set out in the merger agreement.

GTECH will make an announcement as to whether these remaining satisfactions have been met by the time the Italian Stock Exchange opens on April 1.

In light of the anticipated merger date, the General Shareholders Meeting to approve the GTECH Stone Alone Financial Statements, which had been due to take place on April 16, has not been called.

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