he restructuring is subject to the completion of a definitive agreement and certain regulatory notifications. IGT and DigiDeal will work closely together in the months ahead to ensure a seamless transition for their customers as the provisions of the MOU are implemented. Upon completion of the restructuring, the manufacturing and distribution agreement will be terminated and IGT will no longer hold an equity interest in DigiDeal.
"We've had the benefit of working closely with IGT over the last three years, which has allowed us to mature as game designers and developers. As a result, we have a solid line-up of electronic table platforms that can address the full range of different configurations desired by our customers - from live dealers and chips to fully automated tables. All of our tables offer a wide variety of new game content and features," states Michael Kuhn, President, CEO and Founder of DigiDeal. "Considering many markets only allow or are transitioning to electronic multiplayer tables, I am excited about DigiDeal's future."
"This planned restructuring provides both companies an opportunity to independently pursue their own strategic interests," states Craig Billings, Chief of Staff and Head of Corporate Development for IGT. "This transaction is consistent with our renewed focus on core products. DigiDeal has developed a great suite of products during its relationship with IGT, and we believe they are well positioned for future success."
The original 2007 agreements between the two companies established IGT as majority owner of DigiDeal and gave IGT exclusive rights to manufacture and distribute DigiDeal table games globally.