LONDON, April 15, 2015 /PRNewswire/ -- International
Game Technology PLC (NYSE: IGT) ("IGT") announced that its
subsidiary GTECH Corporation ("the Company") has entered into a
contract with the Minnesota State Lottery to provide new lottery
technology, an IP-communications network, multimedia displays,
self-service products, and ongoing support services, following a
competitive procurement. The 7.5 year integrated services contract
with the Lottery contains three renewal options of one year each,
or up to one renewal of three years, or any variation thereof.
The Company expects to receive approximately $75 million to $80 million in revenues over the
base 7.5 year contract period, which runs through August 9, 2023. The Minnesota State Lottery has
been a valued customer since 2003.
"The Minnesota State Lottery has built its success based upon
strong retailer relationships and understanding its players'
preferences," said IGT CEO of North America Lottery Michael
Chambrello. "We will continue to work in partnership with
this forward-thinking lottery to offer the most appropriate
technology solutions and a diversified product mix tailored to meet
the ever-changing needs of the Lottery's retail landscape, and
adapt as its business evolves over the next seven-and-a-half years.
As well, we will remain focused on maximizing profitability for the
Lottery by continually searching for ways to grow sales while
operating effectively and efficiently."
"IGT is the right partner for building on the Lottery's 25
years of success and maximizing the Lottery's contribution to the
State of Minnesota," said
Minnesota State Lottery Executive Director Ed Van Petten.
Under the terms of the contract, the Company will provide the
Minnesota State Lottery with innovative, expandable technology, a
flexible set of retail solutions, and data-driven, decision-making
tools to help increase revenues to the State of Minnesota. The Company will also
replace the Lottery's existing central system with the latest
version of Enterprise Series (ES) central system solution to
support all levels of the Lottery's sales growth. The Request for
Proposals (RFP) also called for the replacement of the Lottery's
existing terminal base with approximately 3,200 new Altura® GT1200 terminals. The
latest ES MultiMedia digital advertising display solution will be
provided to stimulate increased brand awareness, winner awareness,
and player recognition of jackpots and game activities, directly at
the point-of-sale, as well as Ticket-Scan® Plus
self-service ticket checkers for players. In addition, the Company
will replace the current communications network with a combination
of VSAT technology and Dual Comm Inside.
The Company will maintain its primary data center in
Roseville, Minnesota, and its
backup data center in Austin,
Texas, providing ongoing services such as operation and
maintenance of the central system; maintenance of the terminals and
communications network; field services; retailer training; and
hotline management.
Proceeds from the Minnesota State Lottery benefit the Game and
Fish Fund, Natural Resource Fund, and the Environment and Natural
Resource Trust Fund, among other good causes.
About IGT
IGT (NYSE: IGT) is the global leader in
gaming. We enable players to experience their favorite games across
all regulated segments and channels, from Gaming Machines and
Lotteries to Interactive and Social Gaming. Leveraging a wealth of
prime 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 approximately $6
billion in revenues and more than 13,000 employees. For more
information, please visit www.merger.igt.com.
Cautionary Statement Regarding Forward-Looking
Statements
This communication may contain forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning International Game
Technology PLC ("IGT") and other matters. These statements may
discuss goals, intentions and expectations as to future plans,
trends, events, results of operations or financial condition, or
otherwise, based on current beliefs of the management of IGT 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 are
subject to various risks and uncertainties, many of which are
outside IGT'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) risks
that the businesses of International Game Technology and GTECH
S.p.A. will not be integrated successfully, following the recent
completion of their business combination, or that the combined
companies will not realize estimated cost savings, value of certain
tax assets, synergies, growth or other anticipated benefits or that
such benefits may take longer to realize than expected; risks
relating to unanticipated costs of integration of the two
companies; reductions in customer spending; a slowdown in customer
payments and changes in customer demand for products and services;
unanticipated changes relating to competitive factors in the
industries in which the company operates; ability to hire and
retain key personnel; the potential impact of the consummation of
the business combination on relationships with third parties,
including customers, employees and competitors; ability to attract
new customers and retain existing customers in the manner
anticipated; reliance on and integration of information technology
systems; changes in legislation or governmental regulations
affecting the company; international, national or local economic,
social or political conditions that could adversely affect the
company or its customers; conditions in the credit markets; risks
associated with assumptions the company makes in connection with
its critical accounting estimates and legal proceedings; and the
company's international operations, which are subject to the risks
of currency fluctuations and foreign exchange controls. The
foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and
uncertainties that affect the company's business, including those
described in IGT's registration statement on Form F-4 and other
documents filed from time to time with the Securities and Exchange
Commission (the "SEC"). Except as required under applicable law,
the company does not assume any obligation to update these
forward-looking statements. Nothing in this announcement is
intended, or is to be construed, as a profit forecast or to be
interpreted to mean that earnings per IGT share for the current or
any future financial years will necessarily match or exceed the
historical published earnings per IGT share, as applicable. All
forward-looking statements contained in this communication are
qualified in their entirety by this cautionary statement. All
subsequent written or oral forward-looking statements attributable
to IGT, or persons acting on its behalf, are expressly qualified in
its entirety by the cautionary statements contained throughout this
communication.
Contact:
Robert K.
Vincent, Corporate Communications, (401) 392-7452
James Hurley, Investor Relations,
(401) 392-7190
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SOURCE International Game Technology PLC (IGT)