LONDON, Jan. 23, 2017 /PRNewswire/ -- International
Game Technology PLC (NYSE:IGT) announced that its subsidiary, IGT
Global Solutions Corporation (with International Game Technology
PLC, hereinafter "IGT"), will undertake a $15 million expansion to house a new,
state-of-the-art instant ticket press at its Lakeland, Florida facility. The new
servo-controlled TRESU press will increase IGT's printing capacity
by approximately 30%.
This expansion will add 45,000 square feet to house the new
press, along with added production space, a new shipping and
receiving area, secure office space, and secured finish goods
storage. The new press, which is slated to come online in early
2018, will be the newest in the industry, incorporating the latest
advancements in flexography technology. The TRESU will complement
IGT's current servo-controlled Gallus press, which also utilizes
flexography technology.
"The addition of this new, state-of-the-art TRESU press is,
at its core, a commitment to our customers, who have come to expect
high-quality tickets, innovative games, and a partnership grounded
in our Customer-First philosophy," said Michael Chambrello, IGT Chief Executive Officer,
North America Lottery. "We are extremely proud of the growth
we've experienced in our instant ticket printing and services
business over the past several years which has led us to be able to
invest in an expanded facility and new press. With the expansion,
we will be able to offer our customers the latest technological
advances, added flexibility in production scheduling and even more
products and solutions to help support sales growth."
The addition of the second press will increase IGT's production
flexibility and deliver substantial backup production capacity to
service the lottery industry. During the next several years, IGT
expects to add approximately 60 jobs in its Lakeland facility to support its growth as a
result of the expanded facility and new press.
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
International Game Technology PLC 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 International Game Technology PLC 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
International Game Technology PLC'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) the possibility that the businesses of International
Game Technology (Nevada) 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; unanticipated costs of integration
of International Game Technology (Nevada) and GTECH S.p.A.; the possibility that
International Game Technology PLC will be unable to pay future
dividends to shareholders or that the amount of such dividends may
be less than anticipated; the possibility that International Game
Technology PLC 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 as a result of changing economic conditions
or otherwise; unanticipated changes relating to competitive factors
in the industries in which International Game Technology PLC
operates; International Game Technology PLC'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; International Game Technology
PLC'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 International Game Technology
PLC, including as a consequence of the announced withdrawal of the
U.K. from the EU; international, national or local economic, social
or political conditions that could adversely affect International
Game Technology PLC or its customers; conditions in the credit
markets; changes in the top management team; risks associated with
assumptions International Game Technology PLC makes in connection
with its critical accounting estimates; the resolution of pending
and potential future legal, regulatory or tax proceedings and
investigations; and International Game Technology PLC'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 International Game Technology PLC's business, including
those described in International Game Technology PLC's annual
report on Form 20-F for the financial year ended December 31, 2015 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 International Game Technology
PLC's website at www.IGT.com. Except as required under applicable
law, International Game Technology PLC 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
International Game Technology PLC share for the current or any
future financial years will necessarily match or exceed the
historical published earnings per International Game Technology PLC
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 International Game
Technology PLC, 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