PROVIDENCE – GTECH Corp. said Monday it has inked a five-year extension of its contract with the California State Lottery to continue providing services, new lottery products and enhancements to the lottery’s central system.
GTECH, a subsidiary of Lottomatica SpA of Italy, already had a contract with the California Lottery to provide services through October 2014. The latest contract extends their relationship through October 2019.
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GTECH said it expects the extension to increase its revenue by more than $400 million over the five-year period, beginning in the fourth quarter of 2014. The company has been the primary vendor for California’s lottery since 1986.
“Recent legislative actions to improve prize payout structures for the California Lottery offer great potential for new growth and increased support for the Lottery’s education beneficiaries,” GTECH President and CEO Jaymin B. Patel said in a statement. “With this contract extension, we are pleased to be able to continue our partnership with the Lottery to support their next phase of growth.”
Additional information is available at gtech.com.
