Gtech (NYSE:GTK)
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GTECH Holdings Corporation Board of Directors Named the Best in
Gaming Industry
WEST GREENWICH, R.I., Feb. 11 /PRNewswire-FirstCall/ -- GTECH Holdings
Corporation (NYSE:GTK) today announced that its Board of Directors has been
named the Top Performing Board of Directors in Gaming by HVS Executive Search,
an international executive recruiting and compensation consulting firm
specializing in the gaming, lodging, and restaurant/retail industries.
The Board Performance award is presented each year to the Board of Directors in
the gaming industry that offers the best value to investors. HVS uses a broad
range of criteria to judge the boards of more than 40 gaming companies,
including size, makeup, and independence of the board; committee structures and
effectiveness; prevalence of interlocks, insider participation, and related
transactions; and fundamental commitment to pay-for-performance.
"On behalf of the Board, GTECH is extremely honored to receive this award,"
said Robert M. Dewey, Jr., GTECH Board Chairman. "GTECH has been at the
forefront of Board independence, well ahead of legislated requirements in this
area. Eight of our nine directors and our Chairman position are non- executive
independent directors. We firmly believe that good independent corporate
governance is essential to properly guiding the future of a public company."
GTECH received perfect scores in three of the four categories. Other top
performers in this year's study included Harrah's Entertainment, Argosy
Casinos, Ameristar Casinos, and IGT.
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/