GTECH’s history is fascinating and honestly a bit complicated, but stick with me because it’s important. Founded in 1981 in Providence, Rhode Island by Guy Snowden, Victor Markowicz, and Robert Stern with just $400,000, they became the iconic lottery technology company that revolutionized the industry. They introduced Quick Pick technology that dramatically increased player engagement and set standards for reliability that continue today. By 2005 they were operating 26 of 36 US state lotteries, but their history wasn’t without controversy – there were persistent allegations of bribery, fraud investigations, and scandals in several states including Texas, New Jersey, and the UK National Lottery. In 2006, Italian gaming operator Lottomatica acquired GTECH for $6.4 billion, and eventually changed its own name to GTECH in 2013. Then in 2015 came the mega-merger: GTECH acquired American slot machine giant International Game Technology (the original IGT founded in 1975) for $6.4 billion, combining forces under a new UK-based holding company and adopting the IGT name we know today. They paid over $40 million to Italian authorities settling tax issues from previous mergers. The combined entity is now a global gaming powerhouse with operations in 100+ countries, offering everything from slot machines and lottery systems to sports betting and digital platforms. They’ve won numerous awards at G2E, employ thousands globally, and their iconic games like Wheel of Fortune remain casino best-sellers. In 2025, there’s even plans for the gaming division to merge with Everi. It’s been a wild ride from Providence startup to global giant.
