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GTECH RECEIVES INSTANT TICKET VENDING MACHINE (ITVM) CONTRACT EXTENSIONS IN ARIZONA AND NEW MEXICO
WEST GREENWICH, RI - (December 15, 2004) - GTECH Holdings Corporation (NYSE: GTK) today announced that its wholly-owned subsidiary, GTECH Corporation, has signed contract extensions with the Arizona Lottery and the New Mexico Lottery Authority to provide new products and continued services for the lotteries' Instant Ticket Vending Machines (ITVMs).
Arizona
The Arizona Lottery signed a three-year contract extension with GTECH commencing July 1, 2005 . Under the extension, GTECH will upgrade approximately 150 existing 16-bin Expandable Dispensing System Quad Burster T ( EDS-Q) machines with 20-bin EDS-Q machines. GTECH will also provide 100 additional 20-bin EDS-Q machines bringing the total ITVM count in Arizona to more than 420. The 420 ITVMs will also be equipped with online connectivity by summer 2005. The Company will continue to provide the Arizona Lottery with hotline and field services, and software upgrades for the ITVMs.
"GTECH is pleased to continue its longstanding relationship with the Arizona Lottery, helping to support the success of its instant-ticket sales program. By providing connectivity to the ITVMs, the Arizona Lottery and its retailers will be able to combine management reporting of both online and instant-ticket-vending activity for the first time," said GTECH President and CEO W. Bruce Turner.
Through its acquisition of Interlott Technologies, GTECH has provided ITVM products and services in Arizona since 1993. GTECH is also the online technology provider to the Arizona Lottery.
New Mexico
The New Mexico Lottery Authority signed a two-year contract extension commencing May 21, 2005 , whereby GTECH will continue to provide hotline and field services, and software upgrades, at a reduced rate, for the 160 ITVMs currently leased by the New Mexico Lottery.
"We are very pleased that the New Mexico Lottery continues to place its confidence in GTECH's ITVM products and services, and we look forward to being of service to them in the coming years," said Mr. Turner.
Through its acquisition of Interlott, GTECH has provided ITVM products and services in New Mexico since 1997. GTECH is also the online technology provider to the New Mexico Lottery Authority.
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, a leading global information technology company with over $1 billion in revenues and more than 5,400 people in over 50 countries, provides software, networks, and professional services that power high-performance, transaction processing solutions. The Company's core market is the lottery industry, with a growing presence in commercial gaming technology and financial services transaction processing. For more information about the Company, please visit GTECH's website at http://www.gtech.com .
