A Rhode Island lottery technology firm has inked a seven-year extension with the state of Oregon, which will include upgraded systems and ongoing services.
GTECH Corp. of Providence reports it has signed a new long-term contract with the Oregon State Lottery for a new online and instant-ticket lottery system, terminals and ongoing services. The seven-year contract is set to start in September 2008, and has options to renew for up to three years.
Officials at GTECH say the company expects to receive about $70 million in revenue over the life of the contract.
GTech was acquired by Italy's Lottomatica SpA in August 2006 for $4.5 billion. W. Bruce Turner, CEO of Lottomatica SpA and GTECH, said the Oregon State Lottery has been a GTECH customer since 1985.
GTECH last reported annual revenue as an independent company in 2005, recording more than $1.25 billion for the year. The company employs 5,300 people in 50 countries.