Breaking News Bar
posted: 7/9/2014 1:01 AM

Australian company busy Tennessee-based firm

hello
Success - Article sent! close
 
Associated Press

NASHVILLE, Tenn. -- An Australian company has agreed to buy Tennessee-based Video Gaming Technologies Inc. in a deal valued at $1.3 billion.

The Tennessean reported that the deal between Aristocrat Leisure Limited and VGT, which is located in Franklin, is expected to close by the middle of fiscal 2015.

VGT makes and sells video gaming machines, primarily to tribal gaming centers in the United States. The company currently leases about 20,000 terminals nationwide, mainly in tribal casinos in Oklahoma, Washington and California.

Last year, the company brought in $236 million in revenue and is expected to top that number in 2014.

VGT has experienced dramatic growth since entering the tribal gaming market in 2001.

The deal would more than triple the Australian company's overall footprint.

Share this page
  • This article filed under:
  • News
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.