GTech Corp. of West Greenwich, R.I., today announced that it has signed a two-year contract extension with Dansk Tipstjeneste A/S, the operator of the National Lottery in Denmark.
GTech says the deal could be worth approximately $10 million.
Under the terms of the contract extension, GTech will continue to provide Dansk Tipstjeneste with software support and terminal maintenance and repair through Aug. 31, 2005.
"GTech and Dansk Tipstjeneste have enjoyed a successful partnership over the past 14 years," said GTech president and CEO W. Bruce Turner, in a statement. "We are eager to use this opportunity to build a closer strategic relationship with our Danish customer and to maximize revenues in support of health, sport, and education in Denmark."
GTech has provided online lottery equipment and services to Dansk Tipstjeneste since 1989. With annual sales exceeding $1 billion, Dansk Tipstjeneste raises funds to support health, education, youth, and sports.
GTech stock opened at $41.60, down 20 cents from Wednesdays close.