May 19th 2015, International Game Technology (IGT) makes slot machines and is making plans to sell its huge corporate Las Vegas campus, following the company combining operations with GTECH Holdings, Italian lottery provider after a $6.4 billion merger creating the largest gambling company in the world.
Last week at IGT’s quarterly meeting for earnings, the CEO Marco Sala said that plans are in process to sell the corporate headquarters in Las Vegas that is situated in southwest Las Vegas.
The building has plenty of space at 610 000 square feet and 300 000 of this has been put aside for manufacturing.
The company has headquarters in London. IGT retains operating headquarters in Rome, Las Vegas and Providence, Rhode Island.
Phil O’Shaughnessy, spokesman for IGT said that is committed to keeping an important presence in Nevada.
He also said that they are exploring other areas in Las Vegas as the current area is too large and they want to find a place that is better suited to their needs.
The IGT building is the largest available facility in Southern Nevada says Brain Gordon, a Las Vegas based financial adviser at Applied Analysis.
He also believes that the facility could attract another slot machine manufacturer as well as out of state company into the market.
IGT will focus on developing casino products and technology and also maintain research and development in studios. The main manufacturing operations will take place in Reno and the Rhode Island location will house the US lottery operations.
IGT went on to say that they will also be closing facilities in Canada, Rhode Island and Austria.
Over the next three years the savings due to the GTECH-IGT union is expected to be $280 million.
The share of IGT gained 1.38% or 25 cents on the news.