LONDON, Dec. 4, 2017 /PRNewswire/ -- International
Game Technology PLC ("IGT") (NYSE:IGT) today announced that
Lotterie Nazionali S.r.l., a joint venture which is the exclusive
manager of Scratch & Win in Italy and owned 64% by IGT subsidiary
Lottomatica Holding, and directly and indirectly owned 20% by
Scientific Games Corporation and 16% by Arianna 2001, has accepted
a nine-year contract extension for the Italian Scratch & Win
concession.
The acceptance follows a communication received from the Italian
regulator Agenzia delle Dogane e dei Monopoli regarding the
extension of the Italian Scratch & Win concession through
September 30, 2028, in application of
the Law Decree n. 148/2017 recently converted into law.
Lotterie Nazionali S.r.l. is required to pay an upfront fee of
€800 million in three installments. The first installment of €50
million will be paid by December 15,
2017; payments of the second installment of €300 million and
third installment of €450 million are expected to be made in
April 2018 and October 2018, respectively. The payments are
expected to be funded by the joint venture partners and pro-rated
based on their respective ownership percentage. All other
conditions will be the same as the original concession.
About IGT
IGT (NYSE: IGT) is the global leader in
gaming. We enable players to experience their favorite games across
all channels and regulated segments, from Gaming Machines and
Lotteries to Interactive and Social Gaming. Leveraging a wealth of
premium content, substantial investment in innovation, in-depth
customer intelligence, operational expertise and leading-edge
technology, our gaming solutions anticipate the demands of
consumers wherever they decide to play. We have a well-established
local presence and relationships with governments and regulators in
more than 100 countries around the world, and create value by
adhering to the highest standards of service, integrity, and
responsibility. IGT has over 12,000 employees. For more
information, please visit www.IGT.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release may contain forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning International Game
Technology PLC and its consolidated subsidiaries (the "Company")
and other matters. These statements may discuss goals, intentions,
and expectations as to future plans, trends, events, dividends,
results of operations, or financial condition, or otherwise, based
on current beliefs of the management of the Company as well as
assumptions made by, and information currently available to, such
management. Forward-looking statements may be accompanied by words
such as "aim," "anticipate," "believe," "plan," "could," "would,"
"should," "shall", "continue," "estimate," "expect," "forecast,"
"future," "guidance," "intend," "may," "will," "possible,"
"potential," "predict," "project" or the negative or other
variations of them. These forward-looking statements speak only as
of the date on which such statements are made and are subject to
various risks and uncertainties, many of which are outside the
Company's control. Should one or more of these risks or
uncertainties materialize, or should any of the underlying
assumptions prove incorrect, actual results may differ materially
from those predicted in the forward-looking statements and from
past results, performance, or achievements. Therefore, you should
not place undue reliance on such statements. Factors that could
cause actual results to differ materially from those in the
forward-looking statements include (but are not limited to) the
factors and risks described in the Company's annual report on Form
20-F for the financial year ended December
31, 2016 and other documents filed from time to time with
the SEC, which are available on the SEC's website at www.sec.gov
and on the investor relations section of the Company's website at
www.IGT.com. Except as required under applicable law, the Company
does not assume any obligation to update these forward-looking
statements. You should carefully consider these factors and other
risks and uncertainties that affect the Company's business.
Nothing in this news release is intended, or is to be construed, as
a profit forecast or to be interpreted to mean that the financial
performance of International Game Technology PLC for the current or
any future financial years will necessarily match or exceed the
historical published financial performance of International Game
Technology PLC, as applicable. All forward-looking statements
contained in this news release are qualified in their entirety by
this cautionary statement. All subsequent written or oral
forward-looking statements attributable to International Game
Technology PLC, or persons acting on its behalf, are expressly
qualified in their entirety by this cautionary statement.
Contact:
Robert K.
Vincent, Corporate Communications, toll free in
U.S./Canada (844) IGT-7452;
outside U.S./Canada (401)
392-7452
James Hurley, Investor Relations,
(401) 392-7190
Simone Cantagallo, (+39) 06
51899030; for Italian media inquiries
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SOURCE International Game Technology PLC