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/