GTECH Corporation, a company based in Providence

Providence, Rhode Island

Providence is the capital and most populous city of Rhode Island and was one of the first cities established in the United States. Located in Providence County, it is the third largest city in the New England region...

, Rhode Island

Rhode Island

The state of Rhode Island and Providence Plantations, more commonly referred to as Rhode Island , is a state in the New England region of the United States. It is the smallest U.S. state by area...

, United States

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

, became a wholly owned subsidiary of Lottomatica, S.p.A.

Lottomatica

Lottomatica S.p.A. is an Italian company active in the gaming business. The world's largest operator of lotteries , Lottomatica also provides various other gaming services and related technologies. The company has its offices in Rome. In August 2006, it completed the acquisition of Gtech, a U.S....

, on August 29, 2006.

Holdings

Lottomatica is the license holder for the Italian National Lottery. The De Agostini Group, a privately held Italian holding company, is Lottomatica's majority shareholder. The merger of GTECH and Lottomatica included a cash transaction valued at approximately $4.7 billion on a fully diluted basis, including the assumption of debt. This transaction has created one of the world's leading gaming solutions providers, with significant global market share and the broadest portfolio of technology, services, and content solutions. GTECH manages many state lotteries

Lottery

A lottery is a form of gambling which involves the drawing of lots for a prize.Lottery is outlawed by some governments, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments...

 in the United States and also has contracts to manage local and national lotteries in Europe

Europe

Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...

, Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

, Latin America

Latin America

Latin America is a region of the Americas where Romance languages  – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...

 the Caribbean

Caribbean

The Caribbean is a crescent-shaped group of islands more than 2,000 miles long separating the Gulf of Mexico and the Caribbean Sea, to the west and south, from the Atlantic Ocean, to the east and north...

 and Asia

Asia

Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...

.

Ticker symbol

GTECH's ticker symbol on the New York Stock Exchange

New York Stock Exchange

The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...

 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.

Current holdings

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

Belgium

Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...

, Ireland

Ireland

Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...

, Poland

Poland

Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...

 and Brazil

Brazil

Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...

.

Headquarters

GTECH moved its corporate headquarters from its campus in West Greenwich

West Greenwich, Rhode Island

West Greenwich is a town in Kent County, Rhode Island, United States. The population was 6,135 at the 2010 census. West Greenwich was named for Greenwich, Kent, England...

, to a $80 million 10-story building in downtown Providence near Waterplace Park

Waterplace Park

Waterplace Park is an urban park situated along the Woonasquatucket River in downtown Providence, Rhode Island. Finished in 1994, Waterplace Park is connected to 3/4 mile of cobblestone-paved pedestrian walkways along the waterfront known as Riverwalk. Venice-styled Pedestrian bridges cross the...

. Employees moved into the new headquarters scheduled in November 2006, and GTECH laid off 200 employees in December 2006. Company executives stated 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.
As of 2005, the company began diversifying into casino

Casino

In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...

 management in the United States. On March 2, 2005, the Commonwealth of Pennsylvania

Pennsylvania

The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...

 announced that it had selected GTECH to supply a central control computer system

Centralized system

In telecommunications, a centralized, or centralised system, is one in which most communications are routed through one or more major central hubs. Such a system allows certain functions to be concentrated in the system's hubs, freeing up resources in the peripheral units...

 that will monitor slot machine

Slot machine

A slot machine , informally fruit machine , the slots , poker machine or "pokies" or simply slot is a casino gambling machine with three or more reels which spin when a button is pushed...

gaming for the state.