LONDON, June 1, 2016 /PRNewswire/ -- International Game Technology (NYSE: IGT) announced that it has entered into a two-year extension agreement with AB Svenska Spel, the Company's lottery customer in Sweden, to continue providing the Company's INTELLIGEN™ video lottery terminal (VLT) core central system for monitoring and control of its existing VLT program. Svenska Spel is exercising a two-year extension, effective June 2017 and provided under the contract awarded to IGT in 2007 as part of a competitive procurement process.
"Svenska Spel operates one of the most modern and innovative VLT programs in the world, and the INTELLIGEN core central system ensures they have full control over the complexity, security, and integrity of their VLT network," said Declan Harkin, Senior Vice President and Chief Operating Officer, IGT International. "Since 2009, we've deployed 24 INTELLIGEN systems to forward-thinking World Lottery Association (WLA) customers like Svenska Spel, making us the leading provider of VLT central systems to global lotteries."
Under the contract extension, IGT will continue providing Svenska Spel with the INTELLIGEN VLT core central system to monitor approximately 6,000 VLTs in 1,900 restaurants, pubs, and bingo halls across Sweden through to June 2019. Svenska Spel also has the option to purchase new games and VLTs as part of the agreement.
Built on more than 20 years of proven central system experience, INTELLIGEN's new, modern architecture offers stable, secure command and control capability and responsible gaming features uniquely tailored to VLT gaming environments. It interoperates with a wide range of VLTs using multiple protocols, including the Game to System® (G2S®) open standard protocol, and has advanced communication abilities.
IGT, as legacy SPIELO, began providing Svenska Spel with video lottery gaming solutions in 1996, and with fully customisable poker software as legacy GTECH in 2006. Svenska Spel also uses IGT's Casinolink™ system and slot machines at its land-based casinos.
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) the possibility 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, or that the Company will incur unanticipated costs in connection with the integration; the possibility that the Company will be unable to pay future dividends to shareholders or that the amount of such dividends may be less than anticipated; the possibility that IGT 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 the Company operates; the Company'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; the Company'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 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; the resolution of pending and potential future legal, regulatory or tax proceedings and investigations; 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, 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 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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