Svenska Spel to Receive 2,000 New Wide Area Video Lottery Terminals (VLTs) from GTECH Subsidiary Spielo
February 22 2005 - 7:45AM
PR Newswire (US)
Svenska Spel to Receive 2,000 New Wide Area Video Lottery Terminals
(VLTs) from GTECH Subsidiary Spielo Marks First Installation of
Spielo's Next-Generation Wide Area VLT WEST GREENWICH, R.I., Feb.
22 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK)
today announced that AB Svenska Spel amended its existing agreement
with GTECH's wholly-owned subsidiary, Spielo Manufacturing ULC, for
the provision of 2,000 next-generation wide area video lottery
terminals (VLTs). Spielo is a current provider of VLTs to Svenska
Spel and GTECH is the video lottery central system provider.
"Spielo has 15 years of experience building reliable VLTs and
creating market-driven games," said GTECH Senior Vice President of
Gaming Solutions Marc A. Crisafulli. "This first installation of
Spielo's next-generation wide area VLTs will not only help Svenska
Spel diversify into other segments in the restaurant market, but
will also offer a variety of new concept games that will extend
Spielo's game library into new player segments." Spielo currently
provides Svenska Spel with approximately 5,000 of the 7,000 VLTs
already in the field. Under the amended agreement, Spielo will
deploy 2,000 new wide area VLTs beginning in September 2005. The
new VLTs will replace a portion of the existing machines and also
be placed in new locations. With respect to its amended agreement
with Svenska Spel, Spielo expects to generate approximately US$22
million for the sale of the new VLTs. 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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