LONDON, March 7, 2016 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced that its subsidiary, IGT Global Solutions Corporation, has signed a four-year contract extension with the Michigan Lottery to continue providing lottery technology and services through January 19, 2021. The Michigan Lottery has been a valued IGT customer since 1988.
"IGT is committed to providing products and services for sustainable lottery growth," said Michael Chambrello, IGT CEO, North America Lottery. "To that end, we will continue to work closely with the Michigan Lottery to provide added convenience to its players and retailers through additional self-service lottery vending products and the use of evolving technology."
Under the terms of the contract extension, IGT will provide the Lottery with additional self-service lottery vending machines, as well as upgrades to the Internal Control System hardware and relating operating system and application software that interfaces with the IGT-provided lottery central system.
In addition, the Lottery will receive IGT's ES Anywhere (ESA) which provides secure, reliable, and high performance APIs (Application Programming Interface) to customer software, such as mobile apps and web browsers. The APIs are standardized across delivery channels, so that lotteries using ESA get maximum reusability and faster time to market when adding new channels. ESA will also allow for other increased functionality such as third-party integration and remote functions enabling lottery players to scan, check, and validate lottery tickets over the Internet and through mobile devices, as well as claim retail prizes over the Internet and through mobile devices.
Over the term of the extension period, IGT will continue its ongoing services including the maintenance of the Michigan Lottery's central system, 11,000 Altura® terminals, and communications network; field services; retailer training; marketing support, call center support services; and instant-ticket warehousing and distribution. IGT will continue to operate its in-state primary data center in Lansing, and maintain its backup data center in Austin, Texas.
IGT (NYSE: IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 13,000 employees. For more information, please visit www.IGT.com.
About the Michigan Lottery
Since it was established in 1972, the Michigan Lottery has provided more than $19.6 billion to support public education in the state. That includes a record $795.5 million contributed in the 2015 fiscal year, which also saw the Michigan Lottery set records for sales ($2.8 billion), instant game sales ($1 billion), prizes to players ($1.7 billion) and commissions to its 11,000 retailers ($203.6 million).
About 97 cents of every dollar spent on Michigan Lottery tickets is returned to the state in the form of contributions to the state School Aid Fund, prizes to players, and commissions to retailers.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning IGT and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, dividends, results of operations or financial condition, or otherwise, based on current beliefs of the management of IGT as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should," "shall," "continue," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements are subject to various risks and uncertainties, many of which are outside IGT's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance or achievements. Therefore, you should not place undue reliance on the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) risks that the businesses of International Game Technology and GTECH S.p.A. will not be integrated successfully, or that the combined companies will not realize estimated cost savings, synergies, growth or other anticipated benefits or that such benefits may take longer to realize than expected; risk that the Company will be unable to pay future dividends to shareholders or that the amount of such dividends may be less than anticipated; risks relating to unanticipated costs of integration of the two companies; reductions in customer spending; a slowdown in customer payments and changes in customer demand for products and services; unanticipated changes relating to competitive factors in the industries in which the company operates; ability to hire and retain key personnel; the potential impact of the consummation of the business combination on relationships with third parties, including customers, employees and competitors; ability to attract new customers and retain existing customers in the manner anticipated; reliance on and integration of information technology systems; changes in legislation or governmental regulations affecting the company; international, national or local economic, social or political conditions that could adversely affect the company or its customers; conditions in the credit markets; risks associated with assumptions the company makes in connection with its critical accounting estimates and legal proceedings; and the company's international operations, which are subject to the risks of currency fluctuations and foreign exchange controls. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect IGT's business, including those described in IGT's annual report on Form 20-F for the financial year ended December 31, 2014 and other documents filed from time to time with the Securities and Exchange Commission (the "SEC"), which are available on the SEC website at www.sec.gov and on the investor relations section of IGT's website at www.IGT.com. Except as required under applicable law, IGT does not assume any obligation to update the forward-looking statements. Nothing in this news release is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per IGT share for the current or any future financial years will necessarily match or exceed the historical published earnings per IGT share, as applicable. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to IGT, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
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