GTECH Selected as Preferred Bidder to Provide New Interactive Software Solution, Central System, and Terminals for Finland's Nat
03 November 2004 - 12:14AM
PR Newswire (US)
GTECH Selected as Preferred Bidder to Provide New Interactive
Software Solution, Central System, and Terminals for Finland's
National Lottery WEST GREENWICH, R.I., Nov. 2
/PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK)
today announced that its wholly-owned subsidiary, GTECH Global
Services Corporation, has been selected as the preferred bidder by
Veikkaus Oy to begin negotiations for new interactive lottery
software, a new integrated online and instant lottery system, and
terminals in Finland. This decision is the result of a competitive
procurement. "We are delighted and honored to have one of the
world's most successful and technically-progressive lottery
operators such as Veikkaus Oy select GTECH for a project of this
magnitude and complexity," said GTECH President and CEO W. Bruce
Turner. "This partnership with Veikkaus is a strong indication of
the value and validation of GTECH's Enterprise Series (ES) solution
package. ES will support Veikkaus' current distribution channels
and games and provide them with an integrated and open platform for
the future." The collaboration between Veikkaus and GTECH will
demonstrably change the gaming and entertainment landscape,
extending the reach of leading-edge technologies and game concepts,
while creating new market penetrations in a diverse range of
venues. "We are pleased that Veikkaus recognized the tremendous
value afforded by GTECH and our software development partner, HiQ
International. As we merge the experience of Veikkaus, GTECH, and
HiQ in capturing new channel opportunities, GTECH's ES Interactive
will generate collateral interests that will deliver benefits
beyond expectations," continued Mr. Turner. HiQ International is a
leading software developer, providing services in the defense,
health care, and gaming and entertainment areas, with offices in
Finland, Sweden, and Denmark. GTECH has provided lottery equipment
and services to Veikkaus since 1990. Further details of the award
will be disclosed upon the Company's signing of a definitive
agreement with Veikkaus, which is expected to be finalized by mid-
December 2004. 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
5,500 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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