IGT Delivers Upgraded Lottery Solutions to Tennessee Education Lottery with Nine-Year Contract Extension
Rhea-AI Summary
IGT Global Solutions has secured a nine-year contract extension with the Tennessee Education Lottery (TEL), extending their partnership from June 2027 through June 2036. The agreement includes significant technological upgrades, featuring IGT's Aurora™ central system and OMNIA™ integrated lottery solution.
The upgrade package comprises new Retailer Pro S2 terminals with WinCheck S2 peripherals, Keno Show Controllers with WiFi capabilities, and enhanced Wizard back-office applications. TEL has raised over $7.5 billion for educational programs since its inception, with IGT serving as their technology provider since 2004.
The modernized system will provide TEL with improved user-friendly applications, tools, and reporting capabilities through components like Performance Wizard, Sales Wizard, Learning Wizard, and Retailer Wizard. IGT currently serves as the primary technology provider to 26 of 46 U.S. lotteries and maintains a strong presence among the world's largest lottery operations.
Positive
- Nine-year contract extension securing long-term revenue stream through 2036
- Deployment of new technology solutions including Aurora™ central system and OMNIA™
- Continuation of 20+ year relationship with major state lottery customer
- Strengthening market position as primary tech provider to 26 of 46 U.S. lotteries
Negative
- None.
News Market Reaction
On the day this news was published, IGT gained 2.88%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Under the terms of the agreement, IGT will deploy its high-performing Aurora™ central system, a feature component of IGT's integrated lottery solution, OMNIA™. Additionally, IGT will provide upgraded Wizard back-office business applications, replace existing terminals with newly launched Retailer Pro S2 terminals with WinCheck S2 peripherals, provide new Keno Show Controllers with WiFi capabilities and deliver communication network upgrades.
"For more than 20 years, IGT has been a trusted partner to the Tennessee Education Lottery, providing innovative solutions that have supported our consistent growth," said Rebecca Paul, Tennessee Education Lottery Corporation President and Chief Executive Officer. "One of our core missions is supporting educational programs in
"IGT has been committed to bringing best-in-class lottery solutions to the Tennessee Education Lottery since its inception," said Jay Gendron, IGT Chief Operation Officer, Global Lottery. "Through this nine-year contract extension, we are excited to bring new technological upgrades to the Lottery, providing them the systems and equipment needed to drive performance for its players and the good causes it serves in the state."
The upgraded technology will provide the TEL with intuitive, user-friendly applications, tools, and reporting capabilities. Components of the central system, including Performance Wizard, Sales Wizard, Learning Wizard, and Retailer Wizard will streamline operations for optimal functionality. The introduction of IGT's high-performance, high-volume Retailer Pro S2 terminals with WinCheck S2 peripherals will enable the TEL to easily add new features across multiple point-of-sale terminals simultaneously and allow players to quickly and reliably see if they are draw game or instant ticket winners.
As the global lottery market leader, IGT is the primary technology provider to 26 of the 46 lotteries in the
About IGT
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.
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This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the "Company") and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should," "shall," "continue," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2023 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
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SOURCE International Game Technology PLC
FAQ
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