tech expects to finalize a contract with the Lottery within the fourth quarter of 2010, subject to a protest period. It has provided online lottery technology to the Texas Lottery since its inception in 1992.
"As one of the top performing lotteries in the world, we are pleased that the Texas Lottery continues to place their confidence in Gtech. As part of this award, we will be providing the Lottery with a comprehensive technology and management solution," said Gtech President and CEO Jaymin B. Patel. "We also understand that maintaining the Texas Lottery's high level of operational quality is the cornerstone on which they have built their success. To that end, we look forward to providing the Lottery with the latest innovations and proven best practices so they can continue to grow their business in a socially-responsible manner."
Further details of the award will be disclosed following the signing of a definitive agreement with the Texas Lottery.
The Texas Lottery recorded more than us$ 3.7 billion in total sales in its fiscal year 2010. To date, lottery proceeds of more than us$ 12 billion have been transferred to the Foundation School Fund for Education.