ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

GTK Gtech

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Gtech NYSE:GTK NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

GTECH Signs New Six-Year Integrated Services Contract with Pronosticos para la Asistencia Publica in Mexico

08/09/2004 2:01pm

PR Newswire (US)


Gtech (NYSE:GTK)
Historical Stock Chart


From Jul 2019 to Jul 2024

Click Here for more Gtech Charts.
GTECH Signs New Six-Year Integrated Services Contract with Pronosticos para la Asistencia Publica in Mexico Company to Provide ES Connect(TM), 11,000 Altura(R) Terminals, and Telecommunications Network WEST GREENWICH, R.I., Sept. 8 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH Corporation, signed a six-year integrated services contract on September 6 with Pronosticos para la Asistencia Publica (Pronosticos) to provide equipment and services for a new online lottery system and associated telecommunications network in Mexico. The new contract, expected to commence on September 5, 2005, includes a two-year extension option and is the result of a competitive procurement. "GTECH's ES Connect allows a lottery's gaming system to interface with Internet Protocol (IP)-based networks and applications. By enabling their gaming system with IP, Pronosticos will have a greater choice of network technologies and providers, resulting in greater flexibility to support future applications," said GTECH President and CEO W. Bruce Turner. "By supporting IP standards, Pronosticos will also have the capability to implement new applications and services with faster time to market." Under the terms of the new contract, GTECH will replace Pronosticos' existing lottery system with new central system hardware and add the Company's ES Connect(TM) software. ES Connect provides IP message routing, translation, and terminal management and can be implemented on the existing lottery system to achieve a seamless system conversion. GTECH will also provide Pronosticos with approximately 4,800 Altura(R) terminals and 3,200 Altura(R) LVT Plus terminals. In addition, approximately 3,000 Altura LVT terminals will be installed in new retailer locations. It is anticipated that Pronosticos will grow from its current terminal base of 7,500 to approximately 11,000 during GTECH's fiscal year 2006. A variety of proven, reliable, wireless and wireline telecommunications technologies will be installed as the interface between retailers and the central system. GTECH will provide ongoing services to Pronosticos including installation, operation, and maintenance of the central system; installation and maintenance of terminals and communications network; retailer training; field services; hotline operation; and marketing support. GTECH has provided lottery equipment and services to Pronosticos since 1987. With respect to its new contract with Pronosticos, GTECH expects to generate in excess of $90 million over the six-year contract term. 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 45 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/

Copyright

1 Year Gtech Chart

1 Year Gtech Chart

1 Month Gtech Chart

1 Month Gtech Chart

Your Recent History

Delayed Upgrade Clock