Atlantic Lottery Corporation Selects GTECH for New Video Lottery Central System and Services
October 27 2004 - 8:00AM
PR Newswire (US)
Atlantic Lottery Corporation Selects GTECH for New Video Lottery
Central System and Services WEST GREENWICH, R.I., Oct. 27
/PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK)
today announced that its wholly-owned subsidiary, GTECH
Corporation, has been selected to replace the Atlantic Lottery
Corporation's (ALC) existing video lottery central system and
provide management services, following a competitive procurement.
"ALC is a highly-respected, forward-thinking organization, and we
are eager to use this opportunity to develop a closer strategic
relationship with this customer," said GTECH President and CEO W.
Bruce Turner. "GTECH's Enterprise Series Video central system will
offer ALC enhanced functionality including an integrated player
tracking solution, and game software downloading capability from
the central system to the video lottery terminals." Subject to the
successful completion of negotiations respecting a product sale
agreement, GTECH will replace ALC's existing video lottery central
system, currently provided by another vendor, with GTECH's
Enterprise Series(TM) Video central system. The new system will
monitor the integrity and security of over 9,000 video lottery
terminals (VLTs) currently installed in age-controlled
establishments throughout New Brunswick, Prince Edward Island, Nova
Scotia, and Newfoundland and Labrador. "GTECH's central system will
provide ALC with improved system performance and reliability,
ultimately resulting in increased player satisfaction," continued
Mr. Turner. GTECH will provide ongoing services to ALC including
central system support and maintenance. GTECH's subsidiary, Spielo,
will also provide project support and development from its offices
in Moncton, New Brunswick, Canada. Through its acquisition of
Spielo, GTECH has provided ALC with VLTs since 1991. With respect
to its proposed agreement with ALC, GTECH expects to generate
approximately US$9 million in revenue. 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 US$1
billion in revenues and more than 5,500 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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