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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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Louisiana Selects GTECH as Preferred Vendor for Video Gaming Monitoring System

04/05/2005 2:45pm

PR Newswire (US)


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/

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