LT Game, IGT Contract Distribution Agreement

U.S.-based game supplier International Game Technology (IGT) and Macau-based casino multi-game maker LT Game Ltd on Thursday announced three-year distribution agreements for North America and Macau.

Under the terms of the agreement, IGT will distribute LT Games' live and electronic table game systems to the United States and Canada, while LT Games will act as a Macau market distributor for IGT's slot machines, Paradise Entertainment, the parent company of LT Games, said.

The terms of the agreement state that IGT will distribute LT Game products exclusively across North America. IGT will also be granted the right to first deny distribution of LT Game products to Europe, the Caribbean, Mexico, South America and Central America.

The partnership "gives us a unique opportunity to leverage our existing sales, services and compliance infrastructure to generate revenue in our incremental product segment," the companies said in a statement.

Paradise Entertainment said last month that LT Games received formal written approval from the Nevada Gaming Control Board for the installation of equipment in the Nevada marketplace.

"This agreement unlocks the tremendous potential of LT Game in the international market and marks a significant milestone in our history," Jay Chun, president and managing director of Paradise Entertainment, said in a statement.

"This is a significant signal of cooperation that will create synergies for both IGT and LT Games," he added.

Chen added that LT games are well positioned to support IGT in the Macau market, and that the partnership will allow LT games to "accelerate their global expansion and distribution expansion."

The president of LT Game told GGRAsia in May that he expected overseas market sales to reach 60% of the company's sales in 2015.

"This partnership is unique to the gaming industry, combining our storied IGT heritage with LT Game's market intuition to provide a broader and more relevant product portfolio for our collective customers in North America and Macau," said Eric Tom, IGT Global Vice President of Sales.

IGT announced last month that it was being acquired by Italy's GTech SpA for a total of $6.4 billion, comprising cash and $4.7 billion in shares and $1.7 billion in net debt.

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