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GTECH to Provide Instant Ticket Vending Machines to La Francaise
Des Jeux
WEST GREENWICH, R.I., June 23 /PRNewswire-FirstCall/ -- GTECH Holdings
Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH
Corporation, has signed a product sale agreement, following a competitive
procurement, with the operator of the French National Lottery, La Francaise Des
Jeux (FDJ), to provide new Instant Ticket Vending Machines (ITVMs).
Additionally, the Company signed a separate agreement with FDJ to provide ITVM
repair services over an initial term of six years.
"This is a significant step in our efforts to provide Instant Ticket Vending
Machines to the international marketplace, and it is particularly nice when it
comes from the world's number one instant ticket lottery," said GTECH President
and CEO W. Bruce Turner.
FDJ's most recent annual sales were nearly $10.6 billion. Of that amount,
approximately $4.3 billion was derived from the sale of instant tickets.
Under the product sale agreement, GTECH will provide FDJ with a minimum of 575
Expandable Dispensing System Quad Burster(TM) (EDS-Q) ITVMs. Replacing a
portion of the approximately 1,000 machines already in operation, the new ITVMs
are expected to be installed and operational by the end of February 2006.
GTECH is the current online central system provider to FDJ, and, through its
acquisition of Interlott, has provided ITVMs in France since 2000. With
respect to both of these new agreements with FDJ, GTECH expects to generate
revenues of approximately $5 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. 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 is a leading gaming technology and services company. With more than $1.2
billion in annual revenues and 5,300 people in over 50 countries, GTECH
provides integrated technology, creative content, and business services to
effectively manage and grow today's evolving gaming markets. In targeted
emerging economies, GTECH also leverages its operational presence and
infrastructure to supply commercial transaction processing services. 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/