LONDON, March 29, 2016 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced that its subsidiary, IGT Global Solutions Corporation, has signed a seven-year contract with the Virginia Lottery for the provision of new lottery technology and services, following a competitive procurement process. The initial term of the contract runs through October 21, 2024, and allows for two three-year extension options.
"We are pleased to continue our partnership with the Virginia Lottery which has enjoyed six consecutive years of sales growth, with most recent annual sales reaching $1.84 billion," said Michael Chambrello, IGT CEO, North America Lottery. "The solutions and services we will deliver are founded on extensive Virginia player and retailer research and aligned with the Lottery's strategic objectives. We will continue to work with the Lottery to bring them to the next level of growth, and help to maximize proceeds to support public education in the Commonwealth."
"We look forward to taking our customer service to a new level, for our retail partners and our players, when the new IGT terminals hit the market in 2017," said Paula Otto, Virginia Lottery Executive Director. "Helping our 5,350 retailers deliver a secure and convenient customer experience to Virginia consumers is a cornerstone of our strategy. This partnership will help us continue to meet and exceed our profit goals in support of K-12 public education."
Under the contract terms, the Virginia Lottery will receive components of IGT's Aurora™ platform. Aurora Open Retail (f/k/a NEOS), a new retail solution software architecture, will enable the Lottery to support multiple types of retailer solution devices in an efficient manner, improving time to market. The Aurora Lottery Services Portal, a robust, interactive website, will provide the tools independent and corporate retailers need to successfully start, manage, and grow their lottery business without being tied to a lottery terminal. In addition, the Lottery will receive Aurora Navigator (f/k/a NVISION) back-office applications for lottery personnel who will have the ability to customize the look and feel of the interface to meet their exact needs, help them better manage their business, and enhance productivity.
The Virginia Lottery will also receive 5,500 Altura™ Flex draw-based lottery terminals which feature a highly-configurable platform derived from IGT's Altura GT1200 product, and a smaller footprint.
The Aurora MultiMedia digital advertising display solution will be provided to stimulate increased brand awareness, winner awareness, and player recognition of jackpots and game activities, directly at the point-of-sale, as well as Ticket-Scan™ Plus self-service ticket checkers for players.
Additionally, the Gemini™ Touch, IGT's new self-service lottery vending machine, provides fully customizable screens and supports up to 28 instant-ticket games and a configurable number of draw games.
The communications network will be upgraded utilizing next-generation satellite technology.
In addition to the installation and maintenance of the central system, terminals, and communications network, IGT will provide warehousing and distribution for instant tickets, field services, and marketing support. The control room/operations is co-located with the Virginia Lottery where both IGT and the Lottery manage day-to-day operations.
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 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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