UPDATE 1-IGT buys rival Progressive Gaming's operating assets

martedì 20 gennaio 2009 15:57

Jan 20 (Reuters) - Slot machine maker International Game Technology (IGT.N: Quotazione) bought certain operating assets of troubled rival Progressive Gaming International Corp PGIC.O to complement its offerings of computerized gaming machines and systems products.

Progressive Gaming had said late last month in a regulatory filing that it would require to sell substantially all of its assets to repay its obligations to one of its lenders, Private Equity Management Group Financial Corp.

PGIC's global operations will be integrated with IGT's respective offices in Europe, Asia, Australia, Latin America, Canada and the United States, IGT said.

IGT shares were down about 5 percent at $11.35 Tuesday morning on the New York Stock Exchange. PGIC shares were down 6 percent at about 9 cents on Nasdaq. (Reporting by Dhanya Skariachan in Bangalore; Editing by Vikram S Subhedar)