Reno-based IGT Trying to Acquire Firm in $21 Million Deal
International Game Technology is trying to acquire gambling technology firm Venture Catalyst in a deal valued at nearly 21 million dollars. The Las Vegas Review-Journal reported today that the Reno-based slot maker wants to buy Venture Catalyst's Mariposa software system _ a casino management tool that stores and manages customer information and wagering habits for use in marketing campaigns. But I-G-T would sell back Venture Catalyst's casino consulting business to its current management team.
The all-stock transaction calls for IGT to pay two dollars and 58 cents a share for the San Diego-based company. I-G-T officials hail the Mariposa system and say it would boost I-G-T's systems division. Developed in 2001 by Venture Catalyst, the system is being used in nearly 20 casinos nationwide, including the Stratosphere and Las Vegas Hilton.
June 18, 2006
Posted By Bob Hartman
Staff Editor, CasinoGamblingWeb.com
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