- GTECH Corporation
.
GTECH's ticker symbol on the
New York Stock Exchange was GTK, however the stock has been delisted in the United States and Lottomatica S.p.A has been listed on the Mercato Telematico Azionario in Milan as LTO, and managed by Borsa Italiana since May 17, 2001.According to a GTECH news release, Lottomatica, along with GTech now control 63% of the worldwide online lottery business. The companies employ more than 6,300 people worldwide and earned in excess of $US 1.5 billion in 2005. GTECH, now a Lottomatica subsidiary, maintains operations centers in Australia,
Belgium ,Ireland ,Poland andBrazil .GTECH moved its corporate headquarter from its campus in West Greenwich, to a $80 million 10-story building in downtown
Providence, Rhode Island nearWaterplace Park . [ [http://media.www.browndailyherald.com/media/storage/paper472/news/2006/12/05/Metro/Luxury.Condos.Citys.First.Skyscraper.Scheduled.For.2007.Completion-2522412.shtml?norewrite200612051703&sourcedomain=www.browndailyherald.com Luxury condos, city's first skyscraper scheduled for 2007 completion - Metro ] ] Employees moved into the new headquarters scheduled in November 2006, and GTECH laid off 200 employees in December 2006. Company executives claimed the layoffs had nothing to do with the acquisition.After a few years, from 2004 to early 2006, of GTECH struggling to maintain continuity of CTO leadership, GTECH's current CTO has settled into the role providing support to the 2000 game engineers and technologists since April 2006. GTECH has been stretching the edges of technology innovation including distributed gaming servers, camera technologies, wireless play, service orientated architecture platforms, responsible gaming devices and risk engines.
As of 2005, the company began diversifying into
casino management in the United States. OnMarch 2 ,2005 , the Commonwealth of Pennsylvania announced that it had selected GTECH to supply a central control computer system that will monitorslot machine gaming for the state.In September 2005, the company announced that it was putting itself up for sale. According to press reports, this was done in response to an unsolicited bid for the company by the
private equity arm ofGoldman Sachs . In January 2006, it was announced that GTECH would be purchased by Italian companies Lottomatica SpA and De Agostini SpA. Lottomatica operates Italy's Loto and De Agostini is a privately held holding company and Lottomatica's majority shareholder. GTECH survived the sale and will operate as a business unit of Lottomatica. CEO Bruce Turner will become the CEO of Lottomatica, and the CFO and COO will also assume equivalent roles in the new company.References
External links
* [http://www.gtech.com GTECH Home Page]
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