Providence-based GTECH has officially changed its name to International Game Technology, after a merger with a British company of that name. Officials from IGT rang the bell at the New York Stock Exchange on Tuesday, where the combined companies began trading for the first time. IGT Vice President Bob Vincent said Providence will continue to house the company’s lottery headquarters and provide corporate support.
“In general Rhode Island will continue to be a major location for us, it’s our traditional lottery location, and we see our employment remaining fairly steady around 1,000 plus employees,” said Vincent.
IGT will maintain the Providence facility as well offices in Italy, London and a manufacturing facility in Nevada.
Vincent admitted he’ll miss the name GTECH a little bit.
“Well of course there’s some nostalgia associated with that but the names of the companies are similar, both derived from the same words and the international part really fits the organization well.”
The company plans to the sign on its Providence headquarters from GTECH to IGT, but not right away.
Vincent said with the merger, IGT will have annual revenues estimated at $6 billion. The company’s stock was up $1 and 13 cents after its first day of trading on the New York Stock Exchange.
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