GTECH Signs Agreement to Provide New Gaming System and Terminals for New Zealand Lotteries Commission
August 11 2005 - 9:30AM
PR Newswire (US)
WEST GREENWICH, R.I., Aug. 11 /PRNewswire-FirstCall/ -- GTECH
Holdings Corporation (NYSE:GTK) today announced that its
wholly-owned subsidiary, GTECH Global Services Corporation, has
signed an agreement with the New Zealand Lotteries Commission (NZ
Lotteries) for a complete lottery system conversion to include a
new integrated online and instant lottery system and new terminals.
"GTECH is committed to the growth of its customers," said GTECH
President and CEO W. Bruce Turner. "Enterprise Series uses an open
platform infrastructure that will give NZ Lotteries the ability to
capture emerging growth and management opportunities such as
e-commerce applications, new game delivery, access to browser-based
devices, sharing of networks and communications, and compatibility
with other open third-party business management solutions." In
addition to Enterprise Series, GTECH will replace NZ Lotteries
existing terminal base with approximately 1,450 Altura(R)
terminals. GTECH will also provide ongoing software support to NZ
Lotteries as well as terminal maintenance over nine years
commencing with the implementation of the new system, which is
expected in June 2006. GTECH has provided lottery equipment and
services to NZ Lotteries since 1986. The Company expects to
generate approximately $14 million in product sale revenue. GTECH
will also receive an additional $14 million in ongoing software
support, software licensing, and terminal maintenance. 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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