entertainment

GTECH signs extension with Finnish lottery

Posted 6/13/12

PROVIDENCE – GTECH Corp. has signed a five-year contract extension with Veikkaus Oy, the operator of the Finnish National Lottery.

Under the extension agreement, the GTECH contract is valid through November 2018.

GTECH will provide operational and professional services to support Veikkaus in its development of new games and sales channels.

The Providence-based Lottomatica Group subsidiary expects to receive revenue in the range of €60 million to €70 million ($75 million to $87 million) over the extension period.

According to a release announcing the extension, Veikkaus has been a GTECH customer since 1989.

“We are determined to continue serving our players and beneficiaries in a world-class manner,” Veikkaus Oy Executive Vice President Olli Sarekoski said in prepared remarks.

“Veikkaus has had a long and successful history operating the National Lottery and it is crucial to have the best possible partners to further our growth,” added Sarekoski. “GTECH has proven to be instrumental in our operational performance and contributing to our rapid growth.”

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