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twitterSlot maker exiting Web gambling industry
Tuesday, Jan. 4, 2000 | 11:35 a.m.
Reno-based International Game Technology is dropping its stake in Access Systems, an Australian software company specializing in Internet gambling.
Ed Rogich, vice president of marketing for IGT, said the company viewed the minority stake in Access to be an opportunity to expand with what was viewed as a company that intended to market itself to customers where Internet gambling is legal.
IGT, the world's largest slot machine manufacturer, made its investment in Access in early 1999.
But IGT became concerned about a software deal Access had with Lasseters Online, an aggressive marketer to American bettors.
"A lot of people were reading into this that we were positioning ourselves in Internet gambling," Rogich said. "That's not the case. It was just an investment."
Rogich did not disclose the amount of IGT's investment in the company, but said it was minor. The selloff is expected to be completed within three months.
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