LONDON, Dec. 7, 2016 /PRNewswire/ -- International Game Technology PLC (NYSE: IGT) announced that its subsidiary, IGT Global Solutions Corporation (with International Game Technology PLC, hereinafter "IGT"), has entered into a multi-year contract with the Kansas Lottery ("Kansas Lottery" or "Lottery") to continue providing instant ticket printing services through June 2022. The contract includes the option for four additional one-year extensions. In addition to providing instant ticket printing services to the Kansas Lottery, under the new contract, IGT will continue to support the Lottery with research, game planning, marketing, and analytical support.
IGT has had a longstanding relationship with the Kansas Lottery, having been a supplier of instant ticket printing services since 2008 and a lottery systems and technology provider since 1988. Together, IGT and the Kansas Lottery have worked closely to develop key product strategies which have enhanced the Lottery's portfolio of games and delivered increased sales and broader market appeal. The introduction of the X-multiplier series of games has generated combined sales of $69.6 million in 2015 and 2016, making it one of the most profitable games in the history of the Kansas Lottery.
New product innovations have also contributed to the instant ticket sales growth. The Kansas Lottery launched two versions of IGT's proprietary game, Super Ticket™, generating cumulative sales of more than $6.9 million for the 2015 ticket, and is poised to do the same with their newly-launched 2016 Happy Holidays Super Ticket. Another innovation that recently launched that is showing great promise is Holiday Surprise, a $20 game where every ticket wins, the first offering of this type in Kansas.
"The Kansas Lottery is excited to continue working with IGT, a partner that has helped us to develop and grow our lottery since its inception," said Terry Presta, Kansas Lottery Executive Director. "IGT's industry expertise and innovative thinking bring the new, fresh concepts that our customers have grown to love and expect from Kansas Lottery games."
"We are certainly grateful to continue our relationship with the Kansas Lottery and to further develop relevant and successful instant tickets," said Michael Chambrello, IGT Chief Executive Officer, North America Lottery. "Our partnership with the Kansas Lottery has steadily grown over the years. Together with the Lottery, we will work to continue delivering pioneering games and solutions to Kansas Lottery players which drive sales, attract new players, and increase funds generated for the state of Kansas."
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 over 12,000 employees. For more information, please visit www.IGT.com.
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 International Game Technology PLC 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 International Game Technology PLC 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 International Game Technology PLC'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) the possibility that the businesses of International Game Technology (Nevada) 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; unanticipated costs of integration of International Game Technology (Nevada) and GTECH S.p.A.; the possibility that International Game Technology PLC will be unable to pay future dividends to shareholders or that the amount of such dividends may be less than anticipated; the possibility that International Game Technology PLC may not obtain its anticipated financial results in one or more future periods; reductions in customer spending; a slowdown in customer payments and changes in customer demand for products and services as a result of changing economic conditions or otherwise; unanticipated changes relating to competitive factors in the industries in which International Game Technology PLC operates; International Game Technology PLC's ability to hire and retain key personnel; the impact of the consummation of the business combination on relationships with third parties, including customers, employees and competitors; International Game Technology PLC's 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 International Game Technology PLC, including as a consequence of the announced withdrawal of the U.K. from the EU; international, national or local economic, social or political conditions that could adversely affect International Game Technology PLC or its customers; conditions in the credit markets; changes in the top management team; risks associated with assumptions International Game Technology PLC makes in connection with its critical accounting estimates; the resolution of pending and potential future legal, regulatory or tax proceedings and investigations; and International Game Technology PLC'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 International Game Technology PLC's business, including those described in International Game Technology PLC's annual report on Form 20-F for the financial year ended December 31, 2015 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 International Game Technology PLC's website at www.IGT.com. Except as required under applicable law, International Game Technology PLC 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 International Game Technology PLC share for the current or any future financial years will necessarily match or exceed the historical published earnings per International Game Technology PLC 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 International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
Robert K. Vincent, Corporate Communications, toll free in U.S./Canada (844) IGT-7452; outside U.S./Canada (401) 392-7452
James Hurley, Investor Relations, (401) 392-7190
Simone Cantagallo, (+39) 06 51899030; for Italian media inquiries
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/igt-signs-multi-year-contract-to-provide-instant-ticket-printing-services-to-the-kansas-lottery-300373934.html