Reginal Thomas
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GTech Buy International Gaming Technology for $6.4 Billion


GTech is buying U.S. slot machine maker International Game Technology for $6.4 billion including all of the company's debt. IGT is known for their popular slot machines featuring franchises and brands such as the "Wheel of Fortune" and "Avatar". With the Italian economy struggling GTech has now become one of the major global players in the casino business and now has a stronger foundation in the growing U.S. gaming market. Last year the total net spending for gaming in Italy dropped 6.6% while it rose in the U.S. 6.7%. Aside from taking on IGT's $1.7 billion of debt Gtech will also pay $4.7 billion in cash and shares for the company.