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GTK Gtech

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Share Name Share Symbol Market Type
Gtech NYSE:GTK NYSE Ordinary Share
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GTECH to Supply 2,400 Instant Ticket Vending Machines (ITVMs) for the Pennsylvania Lottery

18/04/2005 3:00pm

PR Newswire (US)


Gtech (NYSE:GTK)
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GTECH to Supply 2,400 Instant Ticket Vending Machines (ITVMs) for the Pennsylvania Lottery WEST GREENWICH, R.I., April 18 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH Corporation, has received an order for 2,400 Instant Ticket Vending Machine (ITVM) from Scientific Games Corporation, who will, in turn, lease the ITVMs to the Pennsylvania Lottery and provide ongoing services. The new 24- bin Expandable Dispensing System Quad Burster(TM) (EDS-Q) ITVMs are scheduled for delivery beginning in May of this year. The majority of the 2,400 ITVMs will replace machines already in the field with the remainder being placed in new locations. GTECH expects to receive approximately $22 million in revenue from the sale of these machines. "This ITVM order for the Pennsylvania Lottery, combined with other positive trends in our business, such as our recent gaming central system win in Pennsylvania, is a strong endorsement of our technological capabilities," said GTECH President and CEO W. Bruce Turner. Interlott Technologies, which GTECH acquired in 2003, has provided ITVM products to the Pennsylvania Lottery since 1997. Under the terms of its contract with the Pennsylvania Lottery, Scientific Games is required to supply and service the EDS-Q machines. This is the second such order from Scientific Games in the last two years. The first order was for 1,050 24-bin EDS-Q machines. 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 5,300 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/

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