Washington's Lottery Invites GTECH to Negotiate New Long-Term Lottery Contract
August 02 2005 - 9:33AM
PR Newswire (US)
WEST GREENWICH, R.I., Aug. 2 /PRNewswire-FirstCall/ -- GTECH
Holdings Corporation (NYSE:GTK) today announced that its
wholly-owned subsidiary, GTECH Corporation, has been selected by
Washington's Lottery to negotiate a new long-term contract for a
new online and instant lottery system, terminals, communications
network, and ongoing services. The award follows a competitive
procurement and is subject to the execution of a formal contract.
"GTECH offered Washington's Lottery proven capabilities, solutions,
and quality of services that will meet the Lottery's vision for the
future, enabling them to respond to market challenges with
accelerated innovation," said GTECH President and CEO W. Bruce
Turner. "Enterprise Series is the industry's most powerful and
flexible integration platform, using best-in- class components and
unifying decision-management, leading-edge technology standards,
and enterprise-wide data accessibility. "With the solid foundation
of ES, and our retailer-friendly Altura terminals and
highly-reliable communications network, we stand ready with the
most proven solutions that embrace creative new game content and
distribution capabilities -- solutions that will drive further
growth and return more value to the state of Washington," continued
Mr. Turner. GTECH has been a lottery technology partner to
Washington's Lottery since 1995. Further details of the award will
be made available upon the successful negotiation of a new
contract. 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 is a leading gaming technology and services company. With
more than $1.25 billion in annual revenues and 5,300 people in over
50 countries, GTECH provides integrated technology, creative
content, and business services to effectively manage and grow
today's evolving gaming markets. In targeted emerging economies,
GTECH also leverages its operational presence and infrastructure to
supply commercial transaction processing services. 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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