Pennsylvania Department of Revenue Selects GTECH as Preferred Vendor for New Gaming Central Control System
March 04 2005 - 7:42AM
PR Newswire (US)
Pennsylvania Department of Revenue Selects GTECH as Preferred
Vendor for New Gaming Central Control System WEST GREENWICH, R.I.,
March 4 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation
(NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH
Corporation, has been selected as the preferred vendor by the
Pennsylvania Department of Revenue (DOR) for a gaming central
control system. The system will monitor and control the gaming
machines yet to be installed under the Commonwealth of
Pennsylvania's gaming initiative. At the program's maturity, it is
anticipated that up to 61,000 gaming devices at approximately 14
venues throughout the state will be connected to the central
system. The DOR's decision is the result of a competitive
procurement involving nine other bidders. "We could not be more
pleased and excited about partnering with the Pennsylvania DOR on a
project of this magnitude," said GTECH President and CEO W. Bruce
Turner. "GTECH's proven Enterprise Series solution will not only
provide the DOR with the highest level of quality, security, and
reliability, but it will also position slot venues to gain and
retain players by facilitating the rapid introduction of compelling
games and services. "Moreover, Enterprise Series supports the
introduction of best-in-breed products and services, and
accommodates the ever-changing world of IT technologies," continued
Mr. Turner. Subject to the successful negotiation of a five-year
integrated services contract with the DOR, which is likely to be
finalized by May of this year, the Company will install GTECH's
Enterprise Series(TM) Gaming Central Control system and provide
maintenance and ongoing services to the DOR. The new system will
allow the state regulators to monitor individual slot machines, in
real time, to ensure the integrity of slots gaming, and support
in-house and wide-area progressive slot machines as approved by the
Pennsylvania Gaming Control Board. In addition to using a
widely-accepted gaming industry protocol to allow slot machine
manufacturers to communicate with the statewide system, GTECH's
central system is also capable of supporting additional protocols
as they become available. The new system is expected to be
operational in early 2006. GTECH is the current gaming (or video)
central system provider to customers in Rhode Island, Oregon,
Italy, Sweden, and Alberta and Saskatchewan (Canada), and is in the
process of implementing new gaming central systems in Atlantic
(Canada), Oregon, and Jamaica. In addition, GTECH is also
installing the first ever multi-state, multi-vendor wide area
progressive system for the Video Gaming Group of the Multi-State
Lottery Association (MUSL). Although the value of the contract is
still subject to negotiation, the Pennsylvania DOR estimates that
its annual costs will not exceed $6.3 million once all 14 slot
venues are fully operational. 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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