|GTECH corporation announced that it has been chosen by the State of Missouri to provide a new online lottery system which is expected to start on July 1, 2005.|
The Missouri Lottery has the option to renew the contract for up to eight years beyond the expiration date of June 30, 2012. With respect to its proposed contract with the Missouri Lottery, GTECH expects to generate approximately $85 million over the seven-year term.
'We've had a successful partnership with the Missouri Lottery since 1991, and we are grateful for the opportunity to build on this relationship over the next seven years,' said GTECH President and CEO W. Bruce Turner. 'We believe the Lottery's decisions throughout the procurement process have been focused on the importance and value of providing the highest quality products and services available. Today's announcement verifies that belief.'
GTECH will provide ongoing services to the Missouri Lottery including installation and maintenance of the central system, terminals, and communications network; software maintenance; retailer training; marketing support; hotline management; and field service.
The Missouri Lottery has been a valued GTECH customer since 1991. Since its fiscal year 2000, the Missouri Lottery's total sales have increased year- over-year from $507 million in fiscal 2000 to $791 million in fiscal 2004. Lottery profits in Missouri are earmarked for education.