LONDON, April 15, 2016 /PRNewswire/ -- International Game
Technology PLC ("IGT") (NYSE:IGT) today announced the Italian
regulator Agenzia delle Dogane e dei Monopoli has provisionally
awarded the concession for the Lotto game to a consortium led by
IGT subsidiary Lottomatica. The final award of the concession is
expected to be made during the second quarter of 2016 and it has a
duration of nine years.
The consortium's bid was comprised of €770 million in upfront
concession payments that will be paid in three installments between
the time of the award and April 2017.
IGT currently expects the first two installments of €350 million
and €250 million to be made in 2016, with the balance made in
April 2017.
In addition, €130 million will be invested by the consortium to
upgrade the technological infrastructure (systems, terminals)
supporting the Lotto game. IGT expects that approximately 25% of
the capital related to the infrastructure upgrades will occur
in 2016 and the balance in 2017.
Members of the consortium will contribute to both the upfront
concession payments and capital investments on a pro rata basis as
follows: Lottomatica, 61.5%; IGH, 32.5%; Arianna 2001, 4%; and
Novomatic, 2%.
About IGT
IGT (NYSE:IGT) is the global leader in gaming. We enable players
to experience their favorite games across all channels and
regulated segments, from Gaming Machines and Lotteries to
Interactive and Social Gaming. Leveraging a wealth of premium
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 over 12,000 employees. For more information, please visit
www.IGT.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release may contain forward-looking statements
(including within the meaning of the Private Securities Litigation
Reform Act of 1995) concerning IGT and other matters. These
statements may discuss goals, intentions and expectations as to
future plans, trends, events, dividends, 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 the forward-looking statements. Factors
that could cause actual results to differ materially from those in
the forward-looking statements include (but are not limited to)
risks relating to the final award of the Lotto concession to the
consortium and the consortium's ability to make required upfront
concession payments and capital investments; the possibility that
the businesses of International Game Technology and GTECH S.p.A.
will not be integrated successfully, or that the combined companies
will not realize estimated cost savings, synergies, growth or other
anticipated benefits or that such benefits may take longer to
realize than expected, or that the company will incur unanticipated
costs of integration; the possibility that the Company will be
unable to pay future dividends to shareholders or that the amount
of such dividends may be less than anticipated; the possibility
that IGT may not obtain its anticipated financial results in one or
more future periods; 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; the company's ability
to hire and retain key personnel; the impact of the consummation of
the business combination on relationships with third parties,
including customers, employees and competitors; the company's
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; the resolution
of pending and potential future legal, regulatory or tax
proceedings and investigations; 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 IGT's business,
including those described in IGT's annual report on Form 20-F for
the financial year ended December 31,
2014 and other documents filed from time to time with the
Securities and Exchange Commission (the "SEC"), which are available
on the SEC website at www.sec.gov and on the investor relations
section of IGT's website at www.IGT.com. Except as required under
applicable law, IGT does not assume any obligation to update the
forward-looking statements. Nothing in this news release 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 news release 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
their entirety by this cautionary statement.
Contact:
Robert K. Vincent, Corporate
Communications, toll free in U.S./Canada (844) IGT-7452; outside
U.S./Canada (401) 392-7452
James Hurley, Investor Relations,
(401) 392-7190
Simone Cantagallo, (+39) 06
51899030; for Italian media inquiries
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SOURCE IGT