GTECH signs 3-year contract extension with the Virginia Lottery

The extension term will run from October 28, 2014 through October 27, 2017, and is expected to generate total revenues for GTECH of approximately us$ 65 million, commencing in the fourth quarter of 2014. The Virginia Lottery has been a valued GTECH customer since 2000 when it received its first contract to provide the Lottery with new lottery terminals.

“Since GTECH became the online lottery system vendor in Virginia in 2007, online ticket sales have grown nearly 17 %,” said GTECH President and CEO Jaymin B. Patel.  “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 US 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 directly to the Lottery as part of this contract extension. GTECH currently serves as subcontractor to the existing instants warehousing/distribution vendor whose contract to provide such services to the Virginia Lottery will expire in October 2014.

The Virginia Lottery generates more than us$ 1.3 million per day for Virginia’s K-12 public schools. Operating entirely on revenue from the sale of Lottery products, the Virginia Lottery generated more than us$ 487.1 million for Virginia’s public schools in fiscal year 2012.