GTECH Signs Contract to Supply New Video Central System for Manitoba Lotteries Corporation
18 Agosto 2006 - 4:00PM
PR Newswire (US)
WEST GREENWICH, R.I., Aug. 18 /PRNewswire-FirstCall/ -- GTECH
Holdings Corporation (NYSE:GTK) today announced that its
wholly-owned subsidiary, GTECH Corporation, has signed a product
sale contract to supply the Manitoba Lotteries Corporation with a
new video central system, which includes a five-year support
agreement. With respect to this contract with the Manitoba
Lotteries Corporation, GTECH anticipates generating revenues of
approximately U.S. $8 million. "Video lottery has been an expanding
component of GTECH's growth strategy in recent years," said GTECH
President and CEO W. Bruce Turner. "We're pleased to have
established a partnership with our newest Canadian customer, the
Manitoba Lotteries Corporation, to provide a state-of-the-art video
lottery central system to ensure they continue offering
high-quality gaming entertainment in Manitoba." Under the terms of
the contract, GTECH will replace the Lottery's existing video
central system, currently supplied by another vendor, with the
Company's Enterprise Series(TM) Video central system. GTECH's
central system will monitor the security and integrity of
approximately 5,500 video lottery terminals (VLTs) in the network.
Additionally, GTECH will provide Manitoba with approximately 650
internet protocol (IP)-ready video site controllers, which will
link the VLTs to the central system and provide validation of
winning receipts and printing of retailer reports. Manitoba will
also receive video central system software support and maintenance
for a five-year period. GTECH expects the new video central system
to be operational by April 2007. In addition to Manitoba, the
Company currently supplies, or has contracts to supply, video
central computer systems to customers in the Canadian Provinces of
Alberta and Saskatchewan, and Atlantic Canada; and to customers
throughout the United States, Europe, and the Caribbean. 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; (xiii) the possibility of adverse
determinations in pending legal proceedings; and (xiv) the ability
of Lottomatica and the Company to complete their proposed merger.
GTECH is a leading gaming technology and services company. With
more than $1.3 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 Corporation
CONTACT: Robert K. Vincent, Public Affairs, of GTECH Corporation,
+1-401-392-7452 Web site: http://www.gtech.com/
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