GTECH chosen by Indiana (Hoosier) Lottery

The 15-year ISA is expected to be signed by November 1, 2012, upon completion of a probity review and other customary corporate matters. The selection team unanimously recommended Gtech after a thorough evaluation of the business plan submitted in response to the Lottery’s RFI.

In making the announcement, the Hoosier Lottery said that it expects the Gtech business plan will generate an additional us$ 2.1 billion in net income over 15 years for the State of Indiana. The firm is entitled to receive annual incentive payments should it achieve certain net income targets and has given assurances that provide for payments to the State of Indiana if its net income targets are not achieved.

“Gtech is pleased with the State Lottery Commission’s decision and excited about this new opportunity,” said its President & CEO Jaymin B. Patel. “We look forward to helping the Hoosier Lottery improve sales growth and returns to the State of Indiana. Together, we intend for the Hoosier Lottery to become and remain one of the best-performing lotteries in the nation and a benchmark of social responsibility.”

Further details will be disclosed upon the execution of the ISA with the Hoosier Lottery.