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GTK Gtech

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Gtech NYSE:GTK NYSE Ordinary Share
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Pennsylvania Department of Revenue Selects GTECH as Preferred Vendor for New Gaming Central Control System

04/03/2005 1:42pm

PR Newswire (US)


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Pennsylvania Department of Revenue Selects GTECH as Preferred Vendor for New Gaming Central Control System WEST GREENWICH, R.I., March 4 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH Corporation, has been selected as the preferred vendor by the Pennsylvania Department of Revenue (DOR) for a gaming central control system. The system will monitor and control the gaming machines yet to be installed under the Commonwealth of Pennsylvania's gaming initiative. At the program's maturity, it is anticipated that up to 61,000 gaming devices at approximately 14 venues throughout the state will be connected to the central system. The DOR's decision is the result of a competitive procurement involving nine other bidders. "We could not be more pleased and excited about partnering with the Pennsylvania DOR on a project of this magnitude," said GTECH President and CEO W. Bruce Turner. "GTECH's proven Enterprise Series solution will not only provide the DOR with the highest level of quality, security, and reliability, but it will also position slot venues to gain and retain players by facilitating the rapid introduction of compelling games and services. "Moreover, Enterprise Series supports the introduction of best-in-breed products and services, and accommodates the ever-changing world of IT technologies," continued Mr. Turner. Subject to the successful negotiation of a five-year integrated services contract with the DOR, which is likely to be finalized by May of this year, the Company will install GTECH's Enterprise Series(TM) Gaming Central Control system and provide maintenance and ongoing services to the DOR. The new system will allow the state regulators to monitor individual slot machines, in real time, to ensure the integrity of slots gaming, and support in-house and wide-area progressive slot machines as approved by the Pennsylvania Gaming Control Board. In addition to using a widely-accepted gaming industry protocol to allow slot machine manufacturers to communicate with the statewide system, GTECH's central system is also capable of supporting additional protocols as they become available. The new system is expected to be operational in early 2006. GTECH is the current gaming (or video) central system provider to customers in Rhode Island, Oregon, Italy, Sweden, and Alberta and Saskatchewan (Canada), and is in the process of implementing new gaming central systems in Atlantic (Canada), Oregon, and Jamaica. In addition, GTECH is also installing the first ever multi-state, multi-vendor wide area progressive system for the Video Gaming Group of the Multi-State Lottery Association (MUSL). Although the value of the contract is still subject to negotiation, the Pennsylvania DOR estimates that its annual costs will not exceed $6.3 million once all 14 slot venues are fully operational. 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 more than 5,400 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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