GTECH gets Pennsylvania Lottery deal
Posted: 4/18/2005 11:39:00 AM
GTECH Corp., the world's largest online lottery operator, said Monday it will provide lottery-ticket vending machines to the Pennsylvania Lottery.
GTECH (NYSE:GTK), of West Greenwich, R.I., said it received an order for 2,400 instant ticket vending machines from Scientic Games Corp., which will lease the machines to the Pennsylvania Lottery.
The machines will be delivered in May, GTECH said in a news release. GTECH said the deal was valued at about $22 million.
"This (instant ticket vending machine) order for the Pennsylvania Lottery, combined with other positive trends in our business, such as our recent gaming central system win in Pennsylvania, is a strong endorsement of our technological capabilities," GTECH president and CEO W. Bruce Turner said in a news release.
In 2003, GTECH acquired Interlott Technologies (AMEX:ILI) of Cincinnati, which had provided ticket-vending machines to the Pennsylvania Lottery since 1997.
Pennsylvania invests the proceeds from the 32-year-old lottery in programs for older residents, including free and reduced-fare transit, prescription drug programs and tax and rent-relief.
Source: Pittsburgh Business Times
