Gtech secures Nigerian National Sports Lottery

Gtech expects to receive revenues of approximately us$ 38 million over the base eight-year agreement, commencing in third quarter 2009.

Under the agreement, the firm will replace NSL’s existing central systems for the operation of its lottery games with a new Gtech central system and will assist in the transition from its existing systems to the new system.

The company will also provide other related technical, marketing, and commercial support services for the duration of NSL’s license, which runs through December 18th 2016. The NSL’s license, and Gtech’s agreement with the NSL, may both be extended for an additional 10-year term.

Its President and CEO Jaymin B. Patel, said: “The Nigerian market has, for quite a long time, been very attractive to Gtech. Being one of the most populous and fastest-developing economies in Africa and occupying a strategic position in the West African sub-region, Nigeria provides an opportunity to realize yet another shared vision of a positive linkage of our technology and services with sound local capacity, knowledge, and expertise.

"We are particularly excited about our foray into this unique new market and more so for the opportunity to expand into wider African markets. We recognize the achievements made thus far by NSL, and we are committed to complementing all the initiatives made. Gtech hopes to make the Nigerian operation a model to be followed in the international lottery sector,” he said.

Odunlami Kola-Daisi, NSL CEO, said: “We have always recognized and appreciated the value of Gtech’s leadership and success in the international lottery sector, and we are happy to have access to, and be able to provide Nigerians with, a world-class lottery operation that will meet the expectations of all stakeholders in the Nigerian National Lottery Project.

"We look forward to deriving full benefits of state-of-the-art technology and lottery best practices from Gtech. This is a partnership that will forever change the landscape of electronic transaction processing in Nigeria,” he added.

National Sports Lottery is listed on the Nigerian Stock Exchange and holds a 15-year license, which began in 2001, to operate Nigeria’s National Lottery. The license may be renewed for an additional 10 years upon its expiration in 2016.