In late January, GTECH Corp.’s Rome-based parent company Lottomatica Group SpA announced its decision to re-brand to GTECH SpA, pending shareholder approval. Along with the name change, the group also announced plans to reorganize its business structure from units focusing on their respective products to focusing on geographic regions: the Americas, Italy and international.
The Americas region includes North America and South America as well as the Caribbean. GTECH Corp.’s current president and CEO, Jaymin B. Patel, will head up the Americas region, as president and CEO of GTECH Americas.
Patel was born in Nairobi, Kenya, and grew up in the United Kingdom. He was appointed president and CEO of GTECH, which he joined in 1994, in January 2008.
The reorganization won’t have any immediate local impact, says Patel, but it does put him in charge of continued growth in the Americas. He expects interactive gaming to play a big role in that growth.
PBN: What led to the reorganization of Lottomatica Group?
PATEL: This is a natural step in the evolution process of our group. GTECH was acquired in 2006 by Lottomatica and since that time, the businesses have worked together. GTECH, the Italian business and a business called Spielo … pretty much operated independently, with some relationships and integration, but we realized that more and more of the customers that we are servicing want an integrated approach.
Take Rhode Island or Texas as an example. Those customers typically operate multiple types of gaming: lotteries, VLTs or slot machines, and they offer interactive poker and Bingo where it’s legal. You have a full complement of offerings within those customers. It makes great strategic sense to have an organization where all of the gaming business is offered via geography as opposed to having three businesses come in and have to supply those services to that one customer.
PBN: Why do you think Lottomatica chose to rebrand itself as GTECH rather than take the name of one of the other companies?
PATEL: GTECH is a really well-recognized global brand in the lottery and gaming industry. It’s a huge endorsement from our shareholders that they have recognized the strength of the GTECH brand. … It’s good for us; it’s good for our customers.