January 24, 2013 / 6:15 PM / 5 years ago

Lottomatica to change name into GTECH

MILAN, Jan 24 (Reuters) - Italian gaming group Lottomatica will change its name to GTECH, it said on Thursday, as it moves to further integrate its businesses with its U.S. unit GTECH Holdings Corporation.

Under the plan, which will be implemented throughout 2013, Lottomatica will be operated under a unified structure aligned around three global geographic regions, it said in a statement.

The group, currently organised in three separate business units, took over GTECH Holdings in 2006 for $4.7 billion, becoming one of the largest lottery groups in the world.

The change of name, which needs shareholder approval, will allow Lottomatica take advantage of the global brand of GTECH and help communicate the group’s vision, it said.

In 2011, Lottomatica had 3 billion euros ($3.9 billion) in revenues and 8,000 employees in over 60 countries.

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