GTECH Extends Minnesota Lottery Contract
WEST GREENWICH, Rhode Island – GTECH HoldingsCorporation (NYSE: GTK) today announced that its wholly-owned subsidiary,GTECH Corporation, signed a two-year contract extension with the MinnesotaState Lottery to commence on February 9, 2011. The contract extensionretains all of GTECH's service offerings and the fixed rate under thecurrent contract. GTECH expects to generate revenues of approximately $20million to $22 million over the two-year extension term.
"This contract extension is evidence of the Minnesota State Lottery'scontinued confidence in GTECH's ability to provide comprehensive services,"said GTECH President and CEO W. Bruce Turner. "Since becoming the onlinelottery provider in 2003, online sales have grown year-over-year, reaching$163 million in calendar 2005. We are excited to continue this partnershipand grateful for the recognition of our efforts in Minnesota."
Under the terms of the contract extension, GTECH will continue toprovide the Minnesota State Lottery with a variety of ongoing services,including the operation and maintenance of the online gaming system,lottery terminals, instant ticket vending machines, and communicationsnetwork; and field service support. GTECH will also provide the Lotterywith additional self-service solutions, LED displays, and Aladdin(R)magnetic stripe cards in support of future Aladdin gaming applications.
2006-06-30
