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IGT Merger With Gtech Approved

Nevada gambling regulators say a $6.4 billion merger between an Italian lottery operator and U.S. slot machine maker can move ahead.

The Nevada Gaming Commission unanimously approved the deal between Italy's Gtech and Las Vegas-based International Game Technology, or IGT, at a Thursday meeting with one commissioner abstaining.

The deal involves $4.7 billion in cash and stock and $1.7 billion in debt.

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Company officials say the combined entity will keep the IGT name.

The company's corporate headquarters will be in the United Kingdom while operating operations will be headquartered in Rome, Las Vegas, and Providence, Rhode Island.

Gtech is working to delist itself from Italy's stock exchange and will be listed on the New York Stock Exchange as IGT.
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