This transaction represents a major step forward

AMERICAN LOTTERY firm Scientific Games Corporation has entered into a definitive agreement to acquire the Barcrest Group Limited subsidiary from International Game Technology (IGT) for approximately GBP 33 million.

Barcrest is a leading supplier of gaming content and machines in Europe with Scientific Games stating that the deal is subject to "certain post-closing adjustments" and includes up to Ј2 million in deferred consideration, the payment of which is dependent upon "the satisfaction of certain conditions relating to a third-party contract".

The purchase is anticipated to have been completed over the course of the third quarter when Barcrest will be integrated into Scientific Games' Global Draw and Games Media gaming divisions and is conditional upon obtaining UK competition approvals and "certain third-party consents".

"This transaction represents a major step forward in strengthening and expanding our server-based gaming content," said Ian Timmis, Chief Executive Officer for Global Draw and Games Media.

"In addition, it will provide the opportunity for us to bring the advanced capabilities of our state-of-the-art gaming systems and operational expertise to new wide area gaming venues such as UK-based gaming centres and bingo halls along with venues in Italy and the Czech Republic."
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