Gtech (NYSE:GTK)
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GTECH Selected as Preferred Bidder to Provide New Interactive
Software Solution, Central System, and Terminals for Finland's National Lottery
WEST GREENWICH, R.I., Nov. 2 /PRNewswire-FirstCall/ -- GTECH Holdings
Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH
Global Services Corporation, has been selected as the preferred bidder by
Veikkaus Oy to begin negotiations for new interactive lottery software, a new
integrated online and instant lottery system, and terminals in Finland. This
decision is the result of a competitive procurement.
"We are delighted and honored to have one of the world's most successful and
technically-progressive lottery operators such as Veikkaus Oy select GTECH for
a project of this magnitude and complexity," said GTECH President and CEO W.
Bruce Turner. "This partnership with Veikkaus is a strong indication of the
value and validation of GTECH's Enterprise Series (ES) solution package. ES
will support Veikkaus' current distribution channels and games and provide them
with an integrated and open platform for the future."
The collaboration between Veikkaus and GTECH will demonstrably change the
gaming and entertainment landscape, extending the reach of leading-edge
technologies and game concepts, while creating new market penetrations in a
diverse range of venues.
"We are pleased that Veikkaus recognized the tremendous value afforded by GTECH
and our software development partner, HiQ International. As we merge the
experience of Veikkaus, GTECH, and HiQ in capturing new channel opportunities,
GTECH's ES Interactive will generate collateral interests that will deliver
benefits beyond expectations," continued Mr. Turner. HiQ International is a
leading software developer, providing services in the defense, health care, and
gaming and entertainment areas, with offices in Finland, Sweden, and Denmark.
GTECH has provided lottery equipment and services to Veikkaus since 1990.
Further details of the award will be disclosed upon the Company's signing of a
definitive agreement with Veikkaus, which is expected to be finalized by mid-
December 2004.
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 5,500 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/