GTECH Signs Five-Year Contract Extension with Supreme Ventures in Jamaica
November 15 2005 - 8:06AM
PR Newswire (US)
WEST GREENWICH, R.I., Nov. 15 /PRNewswire/ -- GTECH Holdings
Corporation (NYSE:GTK) today announced that its wholly-owned
subsidiary, GTECH Corporation, has signed a five-year contract
extension with Supreme Ventures Limited to continue providing
online lottery products and services in Jamaica through January 11,
2016. "Since 2001, Supreme Ventures has had great success with
their online lottery games, and we look forward to using this
opportunity to build a closer regional strategic partnership with
them in this part of the world," said GTECH President and CEO W.
Bruce Turner. Under the terms of the five-year extension, GTECH
will continue providing lottery products and services under an
integrated services arrangement, including operation and
maintenance of the central system; maintenance of the terminals and
communications network; marketing support; hotline management; and
field service. In addition to its online lottery contract with
Supreme Ventures, GTECH also provides video lottery products and
services, as well as commercial (non- lottery) services in Jamaica.
With respect to the five-year extension with Supreme Ventures,
GTECH expects to generate over $80 million in lottery revenue over
the extension period. 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 is a leading gaming technology and
services company. With more than $1.25 billion in annual revenues
and 5,300 people in over 50 countries, GTECH provides integrated
technology, creative content, and business services to effectively
manage and grow today's evolving gaming markets. In targeted
emerging economies, GTECH also leverages its operational presence
and infrastructure to supply commercial transaction processing
services. 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 of GTECH
Corporation, +1-401-392-7452 Web site: http://www.gtech.com/
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