GTECH CORP.'s parent company Lottomatica Group SpA plans to change its name to GTECH SpA and reorganize its business structure focusing on three geographic regions: the Americas, Italy and international.
PROVIDENCE – GTECH Corp.’s parent company Lottomatica Group SpA will change its name to GTECH SpA, pending shareholder approval, the Rome-based company announced Thursday.
The rebranding is part of the company’s plan to “further integrate its business on a global basis,” according to a release. The company said it is aiming at “supporting growth, improving efficiency and enhancing profitability across operations, stepping up the pace of internationalization of the group to better capture its full potential.”
“To help communicate the vision and support the group’s worldwide growth strategy, the Lottomatica parent company will take advantage of one of the most recognized and valued global brands in the gaming industry and be known as GTECH,” said a company release.
The company announced that its Lottomatica and SPIELO brands will be retained as “important and prominent offerings in the markets and segments they serve.”
“What we have achieved since the acquisition of GTECH is the creation of a global vehicle to address opportunities across the entire gaming continuum,” Lottomatica Group Chairman Lorenzo Pellicioli said in prepared remarks. “With the steps we are announcing today, the group evolves into a fully-unified business entity to accomplish these goals above and beyond the top-line synergies we have already achieved.”
Currently, Lottomatica’s separate business units focus on their respective products, services, geographies and segments. In addition to the name change, Lottomatica announced its intention to operate under a unified, customer-facing organization structured based on three geographic regions: the Americas, international and Italy.
“Over the past few years, we have undertaken a number of key integration activities. Our customers originally operating in single business segments have gradually migrated toward integrated product portfolios,” Lottomatica Group CEO Marco Sala said in a statement. “With the realignment of our organization, we are taking the final steps to effectively deliver comprehensive solutions meeting the evolving requirements of our customers and strengthening our position as the world’s premier solutions provider to the regulated gaming industry.”
Jaymin Patel will lead the Americas region, Walter Bugno will lead the international team and Fabio Cairoli is slated to lead the Italian team. Each region will be responsible for sales and business development for the company’s entire portfolio of products and services as well as operations and account management in the area.
The three regions will be supported by a central product and services organization led by Renato Ascoli, which will be responsible for product development and marketing, manufacturing and delivery for all product lines.
The new structure plan will be implemented and executed during 2013, according to a release.
“The leadership team that has been delivering consistent growth and improved shareholder value has embraced the new organizational structure and has begun implementing it,” Sala said in a statement. “I expect the transition to happen seamlessly and am confident that we will continue and improve upon our success in the years ahead.”