AGREEMENT AND PLAN OF MERGER

Agreement and Plan of Merger

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Title: AGREEMENT AND PLAN OF MERGER
Governing Law: Delaware Date: 1/10/2006
Industry: CMPSRV Sector: TECHNO

Agreement and Plan of Merger

EXHIBIT 2.1

EXECUTION COPY

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AGREEMENT AND PLAN OF MERGER

Dated as of January 10, 2006

by and among

LOTTOMATICA S.P.A.,

GOLD HOLDING CO.,

GOLD ACQUISITION CORP.

and

GTECH HOLDINGS CORPORATION

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TABLE OF CONTENTS

Page

ARTICLE I The Merger

SECTION 1.01. The Merger	1
SECTION 1.02. Closing	1
SECTION 1.03. Effective Time	2
SECTION 1.04. Effects	2
SECTION 1.05. Certificate of Incorporation and By-laws	2
SECTION 1.06. Directors	2
SECTION 1.07. Officers	2

ARTICLE II Effect of the Merger on the Capital Stock of the Constituent Corporations; Exchange of Certificates
SECTION 2.01. Effect on Capital Stock	3
SECTION 2.02. Exchange of Certificates	4

ARTICLE III Representations and Warranties of the Company
SECTION 3.01. Organization, Standing and Power	6
SECTION 3.02. Company Subsidiaries; Equity Interests	7
SECTION 3.03. Capital Structure	7
SECTION 3.04. Authority; Execution and Delivery; Enforceability	9
SECTION 3.05. No Conflicts; Consents	10
SECTION 3.06. SEC Documents	11
SECTION 3.07. Absence of Certain Changes or Events	12
SECTION 3.08. Contracts	13
SECTION 3.09. Intellectual Property	16
SECTION 3.10. Taxes	18
SECTION 3.11. Absence of Changes in Company Benefit Plans and Company Benefit Agreements	19
SECTION 3.12. ERISA Compliance; Excess Parachute Payments	20
SECTION 3.13. Litigation	22
SECTION 3.14. Compliance with Applicable Laws and Reporting Requirements	23

SECTION 3.15. Permits	24
SECTION 3.16. Property and Assets	24
SECTION 3.17. Brokers; Schedule of Fees and Expenses	25
SECTION 3.18. Opinion of Financial Advisors	25
SECTION 3.19. Environmental Laws	25
SECTION 3.20. Insurance	26
SECTION 3.21. Foreign Corrupt Practices Act	26
SECTION 3.22. Labor Matters	27
SECTION 3.23. Fraud; Infrastructure; Data Security	27

ARTICLE IV Representations and Warranties of Parent and Acquisition Co
SECTION 4.01. Organization, Standing and Power	29
SECTION 4.02. Acquisition Co	29
SECTION 4.03. Authority; Execution and Delivery; Enforceability	29
SECTION 4.04. No Conflicts; Consents	29
SECTION 4.05. Brokers	30
SECTION 4.06. Financing	31
SECTION 4.07. Capital Resources	32
SECTION 4.08. Section 203 of the DGCL	32

ARTICLE V Covenants Relating to Conduct of Business
SECTION 5.01. Conduct of Business	32
SECTION 5.02. No Solicitation	36

ARTICLE VI Additional Agreements
SECTION 6.01. Preparation of Proxy Statement and Other Filings; Company Stockholders Meeting	39
SECTION 6.02. Access to Information; Confidentiality	41
SECTION 6.03. Reasonable Best Efforts; Notification	42
SECTION 6.04. Equity Awards	45
SECTION 6.05. Benefit Plans	46
SECTION 6.06. Indemnification	47
SECTION 6.07. Fees and Expenses	48
SECTION 6.08. Public Announcements	50
SECTION 6.09. Transfer Taxes	51
SECTION 6.10. Acquisition Financing	51

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SECTION 6.11. Resignations	53
SECTION 6.12. Further Action	53
SECTION 6.13. Notification	53
SECTION 6.14. Transaction Litigation	54
SECTION 6.15. Convertible Debentures	54
SECTION 6.16. Tax Matters	54

ARTICLE VII Conditions Precedent
SECTION 7.01. Conditions to Each Party’s Obligation To Effect The Merger	55
SECTION 7.02. Conditions to Obligations of Parent and Acquisition Co	55
SECTION 7.03. Conditions to Obligation of the Company	57
SECTION 7.04. Frustration of Closing Conditions	58

ARTICLE VIII Termination, Amendment and Waiver
SECTION 8.01. Termination	58
SECTION 8.02. Effect of Termination	59
SECTION 8.03. Amendment	59
SECTION 8.04. Extension; Waiver	59

ARTICLE IX Guarantor
SECTION 9.01. Representations and Warranties of Guarantor	60
SECTION 9.02. Guarantor Covenants	61

ARTICLE X General Provisions
SECTION 10.01. Nonsurvival of Representations and Warranties	63
SECTION 10.02. Notices	63
SECTION 10.03. Definitions	64
SECTION 10.04. Interpretation	65
SECTION 10.05. Severability	66
SECTION 10.06. Counterparts	66
SECTION 10.07. Entire Agreement; No Third-Party Beneficiaries	66
SECTION 10.08. Governing Law	66

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SECTION 10.09. Assignment	66
SECTION 10.10. Consent to Jurisdiction	66
SECTION 10.11. Waiver of Jury Trial	67
SECTION 10.12. Remedies	67

ANNEX A Form of Amended and Restated Certificate of Incorporation

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GLOSSARY

Terms	Section
Acquisition Agreement	5.02(b)
Acquisition Co	Preamble
Acquisition Co Common Stock	2.01(a)(iii)
Acquisition Financing	4.06
Adverse Recommendation Change	5.02(b)
affiliate	10.03
Agreement	Preamble
Alternate Financing	6.10(a)
Antitrust Division	6.03(a)
Antitrust Law	3.05(b)
Appraisal Shares	2.01(b)
Assets	3.16
Atronic Contracts	7.02(g)
Authorized Agent	9.02(f)
business day	10.03
Cap Ex Budget	5.01(a)(ix)
Capital Securities Backstop Letter	4.06
Capital Securities Financing	4.06
Capitalization Date	3.03(a)
Certificate	2.01(a)(ii)
Certificate of Merger	1.03
Closing	1.02
Closing Date	1.02
Code	2.02(h)
Commitment Letters	4.06
Company	Preamble
Company Benefit Agreement	3.11
Company Benefit Plan	3.11
Company Board	3.04(b)
Company By-laws	3.01
Company Capital Stock	2.01(a)

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Terms	Section
Company Cash Balance	7.02(h)
Company Certificate	1.05
Company Common Stock	2.01(a)
Company Disclosure Letter	Article III
Company Employees	6.05(a)
Company ERISA Affiliate	3.12(c)
Company Intellectual Property	3.09(a)
Company IT Systems	3.23(e)
Company Pension Plans	3.12(a)
Company Preferred Stock	3.03(a)
Company Property	3.16
Company Restricted Stock	3.03(a)
Company SEC Documents	3.06(a)
Company Senior Notes	3.07
Company Stock Options	3.03(a)
Company Stock Plans	3.03(a)
Company Stockholder Approval	3.04(c)
Company Stockholders Meeting	6.01(d)
Company Subsidiaries	3.01
Company Termination Fee	6.07(b)
Confidentiality Agreement	5.02(a)
Consent	3.05(b)
Contract	3.05(a)
Convertible Debentures	3.03(a)
De Agostini	4.06
DGCL	1.01
EC Merger Regulation	6.03(a)
Effect	10.03
Effective Time	1.03
Environmental Laws	3.19(c)
Environmental Permits	3.19(c)
ERISA	3.11
ESPP	3.03(a)
Exchange Act	3.05(b)

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Terms	Section
Exchange Fund	2.02(a)
Filed Company SEC Documents	Article III
Fraud	3.23(a)
Fraud Losses	3.23(a)
FTC	6.03(a)
GAAP	3.06(b)
Games	3.23(a)
Gaming Business	3.23(e)
Gaming Laws	6.03(g)
Governmental Entity	3.05(b)
Guarantee	9.02(a)
Guaranteed Obligations	9.02(a)
Guarantor	Preamble
Guarantor Stockholder Approval	4.04(b)
Guarantor Stockholders Meeting	4.04(b)
HSR Act	3.05(b)
HSR Filing	6.03(a)
Incentive Plans	6.05(c)
Indenture	6.15(a)
Intellectual Property	3.09(c)
Inventors	3.09(a)
Joint Venture Agreement	3.08(a)(xiv)
Judgment	3.05(a)
knowledge	10.03
Law	3.05(a)
Leased Property	3.16
Legal Impediment	6.03(b)
Liens	3.02(a)
Lottery Business	6.03(g)
Lottery Contract	3.08(a)(xiii)
Material Adverse Effect	10.03
Material Contracts	3.08(b)
Materials of Environmental Concern	3.19(c)
Maximum Premium	6.06(c)

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