GTECH Selected as Lead Bidder to Provide New Gaming System and Terminals for New Zealand Lotteries Commission
February 17 2005 - 4:30PM
PR Newswire (US)
GTECH Selected as Lead Bidder to Provide New Gaming System and
Terminals for New Zealand Lotteries Commission WEST GREENWICH,
R.I., Feb. 17 /PRNewswire-FirstCall/ -- GTECH Holdings Corporation
(NYSE:GTK) today announced that its wholly-owned subsidiary, GTECH
Global Services Corporation, has been selected as the lead bidder
by New Zealand Lotteries Commission (NZ Lotteries) to begin
negotiations for a complete lottery system conversion to include a
new integrated online and instant lottery system and new terminals.
This decision is the result of a competitive procurement. "We are
extremely pleased and appreciative of this demonstration of support
and confidence on the part of our customer," said GTECH President
and CEO W. Bruce Turner. "GTECH's Enterprise Series solution will
allow NZ Lotteries the flexibility to continuously upgrade its
lottery system and integrate a broad spectrum of best-in-class,
third-party software and hardware solutions to achieve greater
performance." GTECH has provided lottery equipment and services to
NZ Lotteries since 1986. Further details of the award will be
disclosed upon the Company's signing of a definitive agreement with
NZ Lotteries, which is expected to be finalized by June 2005.
Certain statements contained in this press release are forward
looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. The Company identifies forward looking statements by
words such as "may," "will," "should," "could," "expect," "plan,"
"anticipate," "intend," "believe," "estimate," "continue," or
similar words that refer to the future. Such statements include,
without limitation, statements relating to the prospects and
financial outlook for the Company, which reflect management
assumptions regarding: (i) the future prospects for and stability
of the lottery industry and other businesses in which the Company
is engaged or expects to be engaged, (ii) the future operating and
financial performance of the Company (including, without
limitation, expected future growth in revenues, profit margins and
earnings per share), and (iii) the ability of the Company to retain
existing business and to obtain and retain new business. Such
forward looking statements reflect management's assessment based on
information currently available, but are not guarantees and are
subject to risks and uncertainties that could cause actual results
to differ materially from those contemplated in the forward looking
statements. These risks and uncertainties include, but are not
limited to, those set forth above, in the Company's subsequent
press releases and on reports by the Company on Forms 10-K, 10-Q
and 8-K, and other reports and filings with the Securities and
Exchange Commission, as well as risks and uncertainties respecting:
(i) the potential impact of extensive and evolving government
regulations upon the Company's business; (ii) the ability of the
Company to continue to retain and extend its existing contracts and
win new contracts; (iii) the possibility of slower than expected
growth or declines in sales of lottery and gaming goods and
services by the Company or the Company's customers; (iv) exposure
to foreign currency fluctuations; (v) risks and uncertainties
inherent in doing business in foreign jurisdictions; (vi) the
relatively large percentage of the Company's revenues attributable
to a relatively small number of the Company's customers; (vii) the
possibility of significant fluctuation of quarterly operating
results; (viii) the intensity of competition in the lottery and
gaming industries; (ix) the possibility of substantial penalties
under and/or termination of the Company's contracts; (x) the
ability of the Company to respond to technological change and to
satisfy the future technological demands of its customers; (xi)
opposition to expansion of lottery and gaming; (xii) the Company's
ability to attract and retain key employees; and (xiii) the
possibility of adverse determinations in pending legal proceedings.
GTECH, a leading global information technology company with over $1
billion in revenues and more than 5,400 people in over 50
countries, provides software, networks, and professional services
that power high-performance, transaction processing solutions. The
Company's core market is the lottery industry, with a growing
presence in commercial gaming technology and financial services
transaction processing. For more information about the Company,
please visit GTECH's website at http://www.gtech.com/. Contact:
Robert K. Vincent Public Affairs GTECH Corporation 401-392-7452
DATASOURCE: GTECH Holdings Corporation CONTACT: Robert K. Vincent,
Public Affairs of GTECH Corporation, +1-401-392-7452 Web site:
http://www.gtech.com/
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