GTECH Corporation: GTECH to earn $85M from Missouri lottery contract
GTECH Holdings Corporation announced Thursday that its wholly-owned subsidiary, GTECH Corporation, was chosen by the State of Missouri to provide a new online lottery central system, terminals, and ongoing services under a proposed seven-year integrated services contract.
The contract is expected to commence July 1, 2005 with the option to renew the contract for up to eight years beyond the expiration date of June 30, 2012.
GTECH expects to generate approximately $85 million over the seven-year term.
"We've had a successful partnership with the Missouri Lottery since 1991, and we are grateful for the opportunity to build on this relationship over the next seven years," stated GTECH President and CEO W. Bruce Turner.
GTECH will provide ongoing services to the Missouri Lottery including installation and maintenance of the central system, terminals, and communications network; software maintenance; retailer training; marketing support; hotline management; and field service.