International Game Technology (IGT) has been awarded a contract to update Loto-Quebec’s fossilized supply of VLTs. IGT was awarded 56.7% of the VLT replacement contract for Societe des loteries video du Quebec (SLVQ) and will mean they supply 7,200 of the new machines. Choosing to refrain from talking completely in Quebecois, IGT CEO Eric Tom commented, “We are excited about Loto-Quebec’s decision to award IGT this valuable business. Our commitment to our customers to build the best games and platforms in the industry is being recognized by our partners in Canada and the rest of the world.”
Loto-Quebec received government approval to replace the outdated terminals back in late 20090 so they’ve really taken their time to pick the right men for the job. It’s expected that the process will start in 2012 and will give IGT just enough time to immerse itself in the culture of Quebec.
IGt has also met all the necessary conditions in its pursuit of capturing Swedish firm Entraction. Malta approved the deal earlier this month and settlement for shareholders was expected to start yesterday. The deal has seen more than 93% of shares acquired by the US-based firm and compulsory acquisition proceedings will be launched to gain the remaining 6.8% of Entraction shares. That is in accordance with the Swedish Companies Act and plans are then afoot to delist Entraction shares from NASDAQ OMX First North Premier. The period in which remaining shareholders can accept the offer has been extended to 23 June 2011 and by June 29 IGT hopes to have tied up the deal.