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GTECH Signs New Contract With Kansas Lottery29 November 2001WEST GREENWICH, Rhode Island – (Press Release) -- Nov. 29, 2001 -- GTECH (NYSE: GTK) today announced that the Company has signed a new six-year facilities management contract to provide online lottery equipment and services for the Kansas Lottery. This contract award, which is expected to commence on July 1, 2002, and expire on June 30, 2008, follows a competitive procurement. ``GTECH has enjoyed a long and fruitful partnership with the Kansas Lottery for well over a decade,'' said GTECH CEO and President Howard S. Cohen. ``We look forward to maintaining and enhancing this partnership by helping the Lottery provide viable benefits for state-funded programs, including economic development initiatives in Kansas.'' ``We are happy to continue our relationship with GTECH,'' said Executive Director of the Kansas Lottery Ed Van Petten. ``The Kansas Lottery prides itself on being efficient and successful in generating revenue for the state, and we attribute much of this success to our 14-year relationship with GTECH.'' Under the terms of the new contract, GTECH will maintain the Lottery's existing terminal base of over 1,800 Isys® terminals. GTECH will continue to provide the Lottery with ongoing services, including operation and maintenance of the central system hardware and software, terminal maintenance, retailer training, marketing support, field services, and hotline management. The Company will continue to operate from a data center in Topeka and anticipates generating revenue of approximately $35 million over the six-year contract period. Since its inception in 1986, the Kansas Lottery has generated revenues of $1.75 billion. Proceeds from the Lottery are allocated to the state's economic development initiatives fund, correctional institutions building fund, and juvenile detention facilities fund. |