GTECH Signs Agreement with Lotterie-Treuhandgesellschaft mbH Thuringen for New Online/Instant Lottery System and Terminals
December 21 2004 - 6:00AM
PR Newswire (US)
GTECH Signs Agreement with Lotterie-Treuhandgesellschaft mbH
Thuringen for New Online/Instant Lottery System and Terminals WEST
GREENWICH, R.I., Dec. 21 /PRNewswire-FirstCall/ -- GTECH Holdings
Corporation (NYSE:GTK) today announced that its wholly-owned
subsidiary, GTECH Corporation, signed an agreement to provide a new
online and instant lottery central system, point-of-sale (POS)
terminals, and ongoing services to Lotterie-Treuhandgesellschaft
mbH Thuringen (Thuringen Lottery) in Germany. "We are excited about
extending our eight years of successful cooperation with the
Thuringen Lottery, and look forward to working with them to expand
and grow their business," said GTECH President and CEO W. Bruce
Turner. "With Enterprise Series, GTECH will offer the Thuringen
Lottery a system that fully integrates lottery games and related
administrative systems and services, to meet the requirements of
the Lottery, now and in the future. As the German states continue
to face budget constraints, Enterprise Series will allow the
Thuringen Lottery to run its business more efficiently and with
greater flexibility." Under the terms of the product sale
agreement, GTECH will replace the Lottery's existing GTECH
ProSys(R) system with the Company's latest system solution,
Enterprise Series(TM) (ES), featuring Internet Protocol (IP) and
standards-based open architecture. As part of the ES platform, the
Lottery will also receive ES Connect B2B(TM). ES Connect B2B will
enable the Thuringen Lottery system to implement new channels of
distribution for its online products by providing a defined
messaging interface. The new interface will be accessed by local
content providers, such as Internet or mobile, to offer lottery
products to their expansive customer bases. In addition to ES
Connect B2B, GTECH will offer ES Connect(TM) which allows the
lottery system to support IP networks and IP lottery terminals.
Approximately 820 GTECH Altura(R) POS terminals with AccuTherm(R)
Supreme printers will be installed in addition to Customer Display
Units (CDUs). The Lottery will also receive the Company's GWARE(TM)
product, a Lottery Business Report tool that stores, searches,
organizes, and displays gaming activity data collected at a central
lottery site. This data encompasses transactions performed over
jurisdiction areas, sales data and information on agents,
terminals, cities and regions. GTECH will provide ongoing services
to the Thuringen Lottery including central system and terminal
maintenance, retailer training, and field service. GTECH has
provided the Thuringen Lottery with products and services since
1996. With respect to its product sale agreement with the Lottery,
GTECH expects to generate approximately $13 million. In addition,
GTECH will receive approximately $7 million under a software and
hardware maintenance contract for the terminals and central system
over seven years. 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 Corporation
CONTACT: Robert K. Vincent, Public Affairs of GTECH Corporation,
+1-401-392-7452 Web site: http://www.gtech.com/
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