Lottomatica Group Announces That GTECH Corporation Has Been Chosen as the Integrated Services Provider in RFI Issued by the Indiana (Hoosier) Lottery
Thursday, October 4, 2012 at 01:48PM ROME, ITALY and PROVIDENCE, RHODE ISLAND (US) – October 4, 2012 – Lottomatica Group S.p.A. announced that its wholly-owned subsidiary, GTECH Corporation, has been chosen as the Integrated Services Provider by the Indiana (Hoosier) Lottery, following a competitive procurement. Under the terms of the RFI, GTECH Corporation shall form an Indiana-based entity to provide comprehensive lottery services and operations following execution of an Integrated Services Agreement (ISA). The 15-year ISA is expected to be signed by November 1, 2012, upon completion of a probity review and other customary corporate matters. The selection team unanimously recommended GTECH after a thorough evaluation of the business plan submitted in response to the Lottery’s RFI.
In making the announcement, the Hoosier Lottery said that it expects the GTECH business plan will generate an additional $2.1 billion in net income over 15 years for the State of Indiana. GTECH is entitled to receive annual incentive payments should it achieve certain net income targets and has given assurances that provide for payments to the State of Indiana if its net income targets are not achieved.
“GTECH is pleased with the State Lottery Commission’s decision and excited about this new opportunity,” said GTECH President & CEO Jaymin B. Patel. “We look forward to helping the Hoosier Lottery improve sales growth and returns to the State of Indiana. Together, we intend for the Hoosier Lottery to become and remain one of the best-performing lotteries in the nation and a benchmark of social responsibility.”
Further details will be disclosed upon the execution of the ISA with the Hoosier Lottery.
Lottomatica Group is a market leader in the Italian gaming industry and one of the largest Lottery operators in the world based on total wagers and, through its subsidiary GTECH Corporation, is a leading provider of lottery and gaming technology solutions worldwide. Together, the companies are the only vertically integrated full service lottery group. Lottomatica Group is majority owned by De Agostini, which belongs to a century-old publishing and media services group. Lottomatica is listed on the Stock Exchange of Milan under the trading symbol “LTO.” In 2011, Lottomatica Group had €3.0 billion in revenues and 8,000 employees in over 60 countries.