Svenska Spel Amends GTECH Agreement
WEST GREENWICH, Rhode Island – (PRESS RELEASE) -- GTECH Holdings Corporation (NYSE: GTK) today announced that AB Svenska Spel amended its existing agreement with GTECH's wholly-owned subsidiary, Spielo Manufacturing ULC, for the provision of 2,000 next-generation wide area video lottery terminals (VLTs). Spielo is a current provider of VLTs to Svenska Spel and GTECH is the video lottery central system provider.
"Spielo has 15 years of experience building reliable VLTs and creating market-driven games," said GTECH Senior Vice President of Gaming Solutions Marc A. Crisafulli. "This first installation of Spielo's next-generation wide area VLTs will not only help Svenska Spel diversify into other segments in the restaurant market, but will also offer a variety of new concept games that will extend Spielo's game library into new player segments."
Spielo currently provides Svenska Spel with approximately 5,000 of the 7,000 VLTs already in the field. Under the amended agreement, Spielo will deploy 2,000 new wide area VLTs beginning in September 2005. The new VLTs will replace a portion of the existing machines and also be placed in new locations. With respect to its amended agreement with Svenska Spel, Spielo expects to generate approximately US$22 million for the sale of the new VLTs.