GTECH Holdings Corporation Board of Directors Named the Best in Gaming Industry
February 11 2005 - 7:44AM
PR Newswire (US)
GTECH Holdings Corporation Board of Directors Named the Best in
Gaming Industry WEST GREENWICH, R.I., Feb. 11
/PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK)
today announced that its Board of Directors has been named the Top
Performing Board of Directors in Gaming by HVS Executive Search, an
international executive recruiting and compensation consulting firm
specializing in the gaming, lodging, and restaurant/retail
industries. The Board Performance award is presented each year to
the Board of Directors in the gaming industry that offers the best
value to investors. HVS uses a broad range of criteria to judge the
boards of more than 40 gaming companies, including size, makeup,
and independence of the board; committee structures and
effectiveness; prevalence of interlocks, insider participation, and
related transactions; and fundamental commitment to
pay-for-performance. "On behalf of the Board, GTECH is extremely
honored to receive this award," said Robert M. Dewey, Jr., GTECH
Board Chairman. "GTECH has been at the forefront of Board
independence, well ahead of legislated requirements in this area.
Eight of our nine directors and our Chairman position are non-
executive independent directors. We firmly believe that good
independent corporate governance is essential to properly guiding
the future of a public company." GTECH received perfect scores in
three of the four categories. Other top performers in this year's
study included Harrah's Entertainment, Argosy Casinos, Ameristar
Casinos, and IGT. Certain statements contained in this press
release are forward looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The Company identifies forward
looking statements by words such as "may," "will," "should,"
"could," "expect," "plan," "anticipate," "intend," "believe,"
"estimate," "continue," or similar words that refer to the future.
Such statements include, without limitation, statements relating to
the prospects and financial outlook for the Company, which reflect
management assumptions regarding: (i) the future prospects for and
stability of the lottery industry and other businesses in which the
Company is engaged or expects to be engaged, (ii) the future
operating and financial performance of the Company (including,
without limitation, expected future growth in revenues, profit
margins and earnings per share), and (iii) the ability of the
Company to retain existing business and to obtain and retain new
business. Such forward looking statements reflect management's
assessment based on information currently available, but are not
guarantees and are subject to risks and uncertainties that could
cause actual results to differ materially from those contemplated
in the forward looking statements. These risks and uncertainties
include, but are not limited to, those set forth above, in the
Company's subsequent press releases and on reports by the Company
on Forms 10-K, 10-Q and 8-K, and other reports and filings with the
Securities and Exchange Commission, as well as risks and
uncertainties respecting: (i) the potential impact of extensive and
evolving government regulations upon the Company's business; (ii)
the ability of the Company to continue to retain and extend its
existing contracts and win new contracts; (iii) the possibility of
slower than expected growth or declines in sales of lottery and
gaming goods and services by the Company or the Company's
customers; (iv) exposure to foreign currency fluctuations; (v)
risks and uncertainties inherent in doing business in foreign
jurisdictions; (vi) the relatively large percentage of the
Company's revenues attributable to a relatively small number of the
Company's customers; (vii) the possibility of significant
fluctuation of quarterly operating results; (viii) the intensity of
competition in the lottery and gaming industries; (ix) the
possibility of substantial penalties under and/or termination of
the Company's contracts; (x) the ability of the Company to respond
to technological change and to satisfy the future technological
demands of its customers; (xi) opposition to expansion of lottery
and gaming; (xii) the Company's ability to attract and retain key
employees; and (xiii) the possibility of adverse determinations in
pending legal proceedings. GTECH, a leading global information
technology company with over $1 billion in revenues and more than
5,400 people in over 50 countries, provides software, networks, and
professional services that power high-performance, transaction
processing solutions. The Company's core market is the lottery
industry, with a growing presence in commercial gaming technology
and financial services transaction processing. For more information
about the Company, please visit GTECH's website at
http://www.gtech.com/. Contact: Robert K. Vincent Public Affairs
GTECH Corporation 401-392-7452 DATASOURCE: GTECH Holdings
Corporation CONTACT: Robert K. Vincent, Public Affairs of GTECH
Corporation, +1-401-392-7452 Web site: http://www.gtech.com/
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