Prospect of further industry consolidation as company stock value has declined 31 percent
According to an exclusive Reuters report, International Game Technology (IGT) has appointed Morgan Stanley to investigate a sale as the industry continues to consolidate.
Reportedly, IGT has been exploring a sale for at least the past two months attracting interest from private equity firms and other gaming companies, an unnamed source close to the situation allegedly said.
While IGT apparently woos prospective buyers at management presentations, any future mergers would in all likelihood be subject to lengthy international regulatory approvals.
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