GTECH Holdings Corporation today announced that its wholly-owned subsidiary, GTECH Corporation, signed a two-year contract extension with the Minnesota State Lottery to commence on February 9, 2011.
The contract extension retains all of GTECH's service offerings and the fixed rate under the current contract. GTECH expects to generate revenues of approximately $20 million to $22 million over the two-year extension term.
"This contract extension is evidence of the Minnesota State Lottery's continued confidence in GTECH's ability to provide comprehensive services," said GTECH President and CEO W. Bruce Turner. "Since becoming the online lottery provider in 2003, online sales have grown year-over-year, reaching $163 million in calendar 2005. We are excited to continue this partnership and grateful for the recognition of our efforts in Minnesota."
Under the terms of the contract extension, GTECH will continue to provide the Minnesota State Lottery with a variety of ongoing services, including the operation and maintenance of the online gaming system, lottery terminals, instant ticket vending machines, and communications network; and field service support.
GTECH will also provide the Lottery with additional self-service solutions, LED displays, and Aladdin magnetic stripe cards in support of future Aladdin gaming applications.