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Venture Catalyst Merges with IGT

Venture Catalyst, Inc. (VCAT) has announced that they will be selling its outstanding stock to International Game Technology (IGT) as part of a merger between the two companies. VCAT, a San Diego based consulting firm for gaming and hospitality areas, is merging with the manufacturer and distributor of computerized slot machines – and the two companies will cease to exist as we know them. VCAT will remain the surviving company, but will then be sold to another group controlled by members of VCAT’s current management team.

VCAT will initially sell their outstanding stock for $18.6 million or $2.58 a share to IGT. VCAT will then be sold to the other VCAT group for $4.5 million in promissory notes. The current executive management team will continue to do what they have always done, which includes providing consulting services to clients including several tribes.

The merger was announced August 28^th, and is expected to be completed by the end of the year.

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