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GTECH CORPORATION SIGNS AGREEMENT WITH DANSKE SPIL TO PROVIDE 3,900 ALTURA® TERMINALS, FOLLOWING COMPETITIVE PROCUREMENT
Danske Spil Also Extends GTECH’s Software License and Technical Services Agreement through August 31, 2010
PROVIDENCE, RI - (August 16, 2007) - GTECH Corporation, a wholly-owned subsidiary of Lottomatica S.p.A., announced that it has signed an agreement to provide 3,900 Altura® terminals to Danske Spil, the operator of the National Lottery in Denmark , following a competitive procurement. Danske Spil has also extended GTECH's software license and technical services agreement for an additional three years, expiring on August 31, 2010.
"Danske Spil is a technological leader in the lottery industry. Their selection of our products is a significant industry benchmark for others to follow," said W. Bruce Turner, CEO of GTECH and Lottomatica S.p.A. "We look forward to expanding our relationship with Danske Spil with the rollout of our Altura product, which offers open architecture compatibility and Internet connectivity allowing the easy adoption of new technology for Danske Spil in the future."
Under the terms of the product sale agreement, GTECH will replace Danske Spil's existing lottery terminal base with GTECH's Altura terminal. All 3,900 Altura terminals are expected to be in place by August 2008. In addition, GTECH will continue to provide software support and maintenance for Danske Spil's online lottery system for the three-year period ending August 31, 2010.
GTECH has provided online lottery equipment and services to Danske Spil since 1989. With respect to its product sale agreement with Danske Spil, GTECH expects to receive revenues of approximately $18 million, commencing in 2008. The three-year software license and technical services agreement will generate approximately $5 million for the Company, over the term of the contract.
GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider - a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by De Agostini, which belongs to a century-old publishing, media, and financial services group. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2006, had more than €1.7 billion in revenues and 5,900 employees in over 45 countries when combined with GTECH.
