Gtech (NYSE:GTK)
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Louisiana Selects GTECH as Preferred Vendor for Video Gaming
Monitoring System
WEST GREENWICH, R.I., May 4 /PRNewswire-FirstCall/ -- GTECH Holdings
Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH
Corporation, has been selected as the preferred vendor to provide a video
gaming monitoring system and site controllers for the Louisiana Department of
Public Safety & Corrections (DPS&C) video gaming program. This decision
follows a competitive procurement involving four other bidders.
"GTECH's Enterprise Series Video central system has effectively set the
standard in the video gaming industry," said GTECH President and CEO W. Bruce
Turner. "Over the past three years, in nearly every RFP for replacement or new
deployment of a distributed video gaming central system for which GTECH
submitted a bid, GTECH was named the successful system provider. In Louisiana,
we offered an industry-proven management solution that will meet the needs of
the DPS&C today and in the future, and it has the capability to support any
industry-standard protocol."
Upon successful completion of negotiations with the DPS&C, GTECH will replace
the existing video central system, currently provided by another vendor, with
the Company's Enterprise Series(TM) (ES) Video central system. ES Video will
monitor the integrity and security of approximately 15,000 video gaming devices
(VGD) at approximately 2,800 distributed locations in the state. GTECH will
also provide internet protocol (IP)-ready video site controllers at these
locations. A video site controller is a management device that links the VGDs
to the central system, and provides validation of winning receipts and printing
of retailer reports. The new system is expected to be operational by June
2006.
Upon the successful completion of negotiations, GTECH expects to generate
revenues of approximately $8 million to $10 million from the sale of the
central system and the video site controllers.
GTECH provides, or has been awarded contracts to provide, video central systems
and/or services in Pennsylvania, Rhode Island, Oregon, Sweden, Italy, Jamaica,
Switzerland, the Canadian Provinces of Saskatchewan and Alberta, and to
Atlantic Lottery (Canada) and the Multi-State Lottery Association (MUSL).
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/