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4-Traders Homepage  >  Equities  >  Nyse  >  International Game Technology PLC    IGT   GB00BVG7F061

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Game Technology : International Game to Acquire Electronic Table Games Patent and Technology from Paradise Entertainment

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04/26/2016 | 12:31pm CEST
Deal Type: Asset Transaction
Deal Status: Announced
Deal Value: 0.0000 USD

Deal in Brief

International Game Technology PLC (IGT), a designer, developer, manufacturer and distributor of computerized gaming equipment, software and network systems based in the US, has signed an agreement to acquire electronic table game technology, patents and other intellectual property (Table Game IP) from Paradise Entertainment Limited, a holding company involved in development, supply and sales of electronic gaming systems and provision of casino management services based in Hong Kong. Under the terms of agreement, IGT will pay Paradise an upfront fee plus an ongoing earn-out based on placement of products utilizing the Table Game IP over a 15 year term. The agreement provides IGT with exclusive rights to Paradise's Table Game IP for the development, manufacturing, and distribution of Live and Random Number Generator (RNG) electronic table games worldwide, except in Macau where Paradise subsidiary LT Game will remain the exclusive provider of its electronic table game products. The closing of the agreement is subject to Paradise obtaining requisite shareholders' consents and approvals.

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Financials ($)
Sales 2017 4 947 M
EBIT 2017 995 M
Net income 2017 80,3 M
Debt 2017 7 614 M
Yield 2017 3,60%
P/E ratio 2017 58,76
P/E ratio 2018 40,68
EV / Sales 2017 2,45x
EV / Sales 2018 2,28x
Capitalization 4 493 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 28,6 $
Spread / Average Target 29%
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Managers
NameTitle
Marco Sala Chief Executive Officer & Executive Director
Philip Glen Satre Chairman
Alberto Fornaro Chief Financial Officer & Executive Vice President
Alberto Dessy Independent Non-Executive Director
James Francis McCann Non-Executive Director
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