GTECH Chosen by the State of Missouri for Seven-Year Integrated Services Lottery Contract
December 16 2004 - 7:00AM
PR Newswire (US)
GTECH Chosen by the State of Missouri for Seven-Year Integrated
Services Lottery Contract Company to Install Enterprise Series(TM)
Architecture and 6,000 Altura(R) Terminals WEST GREENWICH, R.I.
Dec. 16 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation
(NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH
Corporation, was chosen by the State of Missouri to provide a new
online lottery central system, terminals, and ongoing services
under a proposed seven-year integrated services contract which is
expected to commence July 1, 2005. The Missouri Lottery has the
option to renew the contract for up to eight years beyond the
expiration date of June 30, 2012. Today's decision is the result of
a competitive procurement. "We've had a successful partnership with
the Missouri Lottery since 1991, and we are grateful for the
opportunity to build on this relationship over the next seven
years," said GTECH President and CEO W. Bruce Turner. "We believe
the Lottery's decisions throughout the procurement process have
been focused on the importance and value of providing the highest
quality products and services available. Today's announcement
verifies that belief." Subject to the successful completion of a
new contract, GTECH will provide the Missouri Lottery with the
Company's Enterprise Series(TM) architecture and approximately
6,000 Altura(R) terminals. In addition, the communications network
will be partially provided by GTECH and will consist of VSAT,
radio, and leased line. GTECH will provide ongoing services to the
Missouri Lottery including installation and maintenance of the
central system, terminals, and communications network; software
maintenance; retailer training; marketing support; hotline
management; and field service. With respect to its proposed
contract with the Missouri Lottery, GTECH expects to generate
approximately $85 million over the seven-year term. The Missouri
Lottery has been a valued GTECH customer since 1991. Since its
fiscal year 2000, the Missouri Lottery's total sales have increased
year- over-year from $507 million in fiscal 2000 to $791 million in
fiscal 2004. Lottery profits in Missouri are earmarked for
education. 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) risks and
uncertainties inherent in doing business in foreign jurisdictions;
(v) the relatively large percentage of the Company's revenues
attributable to a relatively small number of the Company's
customers; (vi) the possibility of significant fluctuation of
quarterly operating results; (vii) the intensity of competition in
the lottery and gaming industries; (viii) the possibility of
substantial penalties under and/or termination of the Company's
contracts; (ix) the ability of the Company to respond to
technological change and to satisfy the future technological
demands of its customers; (x) opposition to expansion of lottery
and gaming; (xi) the Company's ability to attract and retain key
employees; and (xii) 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 Corporation
CONTACT: Robert K. Vincent, Public Affairs of GTECH Corporation,
+1-401-392-7452 Web site: http://www.gtech.com/
Copyright
Gtech (NYSE:GTK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gtech (NYSE:GTK)
Historical Stock Chart
From Jul 2023 to Jul 2024