GTECH to Supply 2,400 Instant Ticket Vending Machines (ITVMs) for the Pennsylvania Lottery
April 18 2005 - 10:00AM
PR Newswire (US)
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/
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