Louisiana Selects GTECH as Preferred Vendor for Video Gaming Monitoring System
May 04 2005 - 9:45AM
PR Newswire (US)
Louisiana Selects GTECH as Preferred Vendor for Video Gaming
Monitoring System WEST GREENWICH, R.I., May 4
/PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK)
today announced that its wholly-owned subsidiary, GTECH
Corporation, has been selected as the preferred vendor to provide a
video gaming monitoring system and site controllers for the
Louisiana Department of Public Safety & Corrections (DPS&C)
video gaming program. This decision follows a competitive
procurement involving four other bidders. "GTECH's Enterprise
Series Video central system has effectively set the standard in the
video gaming industry," said GTECH President and CEO W. Bruce
Turner. "Over the past three years, in nearly every RFP for
replacement or new deployment of a distributed video gaming central
system for which GTECH submitted a bid, GTECH was named the
successful system provider. In Louisiana, we offered an
industry-proven management solution that will meet the needs of the
DPS&C today and in the future, and it has the capability to
support any industry-standard protocol." Upon successful completion
of negotiations with the DPS&C, GTECH will replace the existing
video central system, currently provided by another vendor, with
the Company's Enterprise Series(TM) (ES) Video central system. ES
Video will monitor the integrity and security of approximately
15,000 video gaming devices (VGD) at approximately 2,800
distributed locations in the state. GTECH will also provide
internet protocol (IP)-ready video site controllers at these
locations. A video site controller is a management device that
links the VGDs to the central system, and provides validation of
winning receipts and printing of retailer reports. The new system
is expected to be operational by June 2006. Upon the successful
completion of negotiations, GTECH expects to generate revenues of
approximately $8 million to $10 million from the sale of the
central system and the video site controllers. GTECH provides, or
has been awarded contracts to provide, video central systems and/or
services in Pennsylvania, Rhode Island, Oregon, Sweden, Italy,
Jamaica, Switzerland, the Canadian Provinces of Saskatchewan and
Alberta, and to Atlantic Lottery (Canada) and the Multi-State
Lottery Association (MUSL). 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 5,300
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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