Gtech (NYSE:GTK)
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GTECH Signs Agreement with Customer in Spain for 2,500 Altura(R) Terminals
WEST GREENWICH, R.I., Jan. 9 /PRNewswire-FirstCall/ -- GTECH Holdings
Corporation today announced that its wholly-owned subsidiary, GTECH
Corporation, has signed a product sale agreement to provide new online lottery
terminals to Sistemas Tecnicos de Loterias del Estado (STL), the operator of the
online system for the National Lottery in Spain.
"We are certainly gratified by STL's continued confidence in us and believe it
is a direct reflection of the quality of GTECH's products and services, which is
the hallmark of our business," said GTECH President and CEO W. Bruce Turner.
Under the terms of the agreement, STL will replace 2,500 existing Spectra(R)
online lottery terminals with 2,500 Altura(R) terminals. In addition, GTECH
will continue to provide STL with terminal maintenance and repair services.
GTECH has supplied STL with online lottery products and services since 1990.
With respect to its product sale agreement with STL, GTECH expects to generate
approximately $9 million.
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. 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, and (ii) the future
operating and financial performance of the Company (including, without
limitation, expected future growth in revenues, profit margins and earnings per
share). 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) exposure to foreign currency fluctuations; (iii) risks
and uncertainties inherent in doing business in foreign jurisdictions; (iv) the
possibility of substantial penalties under and/or termination of the Company's
contracts; and (v) opposition to expansion of lottery and gaming.
GTECH, a leading global information technology company with $1 billion in
revenues and 4,900 people in 44 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 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
CONTACT: Robert K. Vincent, Public Affairs of GTECH Corporation, +1-401-
392-7452
Web site: http://www.gtech.com/