IAGHeadquartered in Las Vegas, International Game Technology is famous in Australia for their interactive slot machine games. The company, which is looking to consolidate, recently contacted analysts at Morgan Stanley to determine the value of their assets. Recent reports indicate that less Australians are gambling in brick-and-mortar casinos. Instead, most people are now playing games at one of the country’s reputable online casinos.

This switch to virtual gaming has restricted International Game Technology’s revenues. As a consequence, the Nevada-based firm is preparing to merge with a private financial agency or another gaming manufacturer.

International Influence

IGT has been preparing to consolidate for more than two months. At the time of this writing, Morgan Stanley estimates that International Game Technology’s value is approximately $3.5 billion. With news of IGT’s consolidation, the company’s stock has climbed more than 14.4 percent in recent weeks. A share of IGT’s stock is now priced at $14.31 on Australia’s stock exchange.

International Game Technology currently has 59 different offices on 6 continents. The company’s global presence will affect Australia, too, as IGT maintains offices in both Australia and New Zealand. The experts at Morgan Stanley remain uncertain as to whether or not Australian citizens employed by IGT will lose their jobs when the firm consolidates.

Terms of the Sale

The potential suitors for International Game Technology’s multi-billion dollar sale include some of the biggest names in the gambling industry. Representatives for the Bellagio Resort and Casino, MGM Resorts, and Stations have all inquired about IGT’s sale.

In an effort to drum up more interest, though, International’s marketing experts are currently hosting events that are attracting interest from some of the world’s most respected casino magnates.

Although International Game Technology is still the most famous slot machine manufacturer in Australia, the company’s president and CEO want to sell the company because IGT’s stock has declined in recent years. Financial analysts at Morgan Stanley report that IGT’s stock has fallen by 31% since the advent of online gaming. These same analysts believe that the stock could continue to drop should the gaming market remain stagnant.