Business

Italy's GTECH Lays Its Bets on IGT

U.S. gaming is big business. Italian lottery operator GTECH wants a share of it—and is ready to pay $6.4 billion for the privilege. Most of that will be paid as 4.7 billion in cash and shares for slot machine maker IGT of Las Vegas. GTECH will also take on the U.S. firm's net debt of 1.7 billion. A fairly hefty price tag, according to Quentin Webb of Reuters Breakingviews.

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