Australian Slot-machine Manufacturer Bets on American Indian Casinos
Australian gaming machine maker Aristocrat Leisure Ltd has agreed to buy privately owned Video Gaming Technologies (VGT) for US copy.28 billion in cash.
Franklin, Tennessee-based VGT makes slot and bingo machines primarily for tribal casinos. VGT has approximately 20,200 machines on lease to Indian casinos in Oklahoma, Washington, California and beyond. The Oklahoma tribal gaming market accounts for approximately 50 percent of its total installed base of Class II gaming machines in the US. VGT reported its revenue at $236 million for the December 2013 year-end with a staff of 610, states VGT.