Updated January 24 at 4:24pm
technology

GTECH signs 3-year contract extension with Virginia

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PROVIDENCE – GTECH Corp. has signed a three-year contract extension with the Virginia Lottery, GTECH parent Lottomatica Group S.p.A announced.

Under the terms of the deal, GTECH will continue to provide an online/instants central system, self-service lottery products, multimedia messaging display units and instant-ticket warehousing and distribution services.

According to a release, the contract extension term will run from Oct. 28, 2014 to Oct. 27, 2016 and is expected to generate roughly $65 million for GTECH. The Virginia Lottery has been a valued GTECH customer since 2000.

“Since GTECH became the online lottery system vendor in Virginia in 2007, online ticket sales have grown nearly 17 percent,” GTECH President and CEO Jaymin B. Patel said in a statement. “We can attribute much of that growth to the important partnership we have established with the Virginia Lottery – a partnership that fosters open communication and collaboration, with a shared goal in mind of keeping the Lottery moving forward and returning even more dollars for public education in Virginia.”

“What is unique about our partnership is that the Virginia Lottery is the only lottery in the U.S. to share control room operations with GTECH,” added Patel. “Our combined knowledge and expertise under this structure allows for a more efficiently run lottery enterprise.”

In addition to providing lottery systems, terminals, a communications network, marketing support, field services and hotline management, GTECH will also provide instant-ticket warehousing and distribution services.

According to the GTECH release, the Virginia Lottery generates more than $1.3 million per day for Virginia’s K-12 public schools.

GTECH Corp., Lottomatica Group S.p.A,

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