IGT Wins 10-Year Scratch Ticket Manufacturing Contract with the Texas Lottery Commission

Rhea-AI Summary

International Game Technology PLC (IGT) has secured a new 10-year contract for scratch ticket printing and services with the Texas Lottery Commission, extending their partnership until August 2034. The contract follows a competitive procurement process and highlights IGT's successful history with the Texas Lottery, which has generated over $35 billion in revenue for various causes since 1992. IGT will continue to supply popular game offerings like Loteria, which generated over $1.6 billion in sales in 2021, while also providing lottery operations and support services.

Positive

• Secured a 10-year scratch ticket contract with Texas Lottery, enhancing long-term revenue prospects.
• Texas Lottery's revenue contributions exceeded $35 billion thanks to IGT's services since 1992.
• Loteria games sold over $1.6 billion in 2021, indicating strong product performance.

Negative

• None.

LONDON, Oct. 5, 2022 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its subsidiary, IGT Global Solutions Corporation, has signed a new 10-year scratch ticket printing and services contract with the Texas Lottery Commission ("Texas Lottery"). Following a competitive procurement, IGT was awarded the printing contract to provide scratch ticket content and supporting services. The new contract will extend IGT's partnership with the Texas Lottery through August 2034.

"Since our inception in 1992, IGT has been a valued partner and has helped the Texas Lottery generate more than $35 billion in revenue for good causes," said Gary Grief, Texas Lottery Commission Executive Director. "We look forward to IGT's continued offering of innovative and entertaining scratch tickets in the years to come."

"For 30 years, IGT has worked closely with the Texas Lottery to pilot some of our most innovative products such as Super Ticket, in-lane solutions, and the scan-and-check feature of the mobile convenience app," said Jay Gendron, IGT Chief Operating Officer, Global Lottery. "These industry-leading lottery products and supporting operational services provide a multitude of benefits for players and retailers across the state. We look forward to building upon our longstanding partnership supporting educational and veteran service organizations in Texas."

IGT is the Texas Lottery's exclusive supplier for the highly successful Loteria family of games. Loteria is available at six different price points ($1, $3, $5, $10, $20 and $50) and in 2021, it generated more than $1.6 billion in sales. This new contract will provide Texas Lottery with continued access to IGT's catalogue of player-favorite games, licensed content, and innovative designs and features. 

In addition to scratch ticket printing, IGT provides the Texas Lottery with lottery operations and services, including its lottery central systems, data center operations, field sales organization, retail equipment and support, warehouse and distribution, call center, and marketing services.

As the global lottery market leader, IGT is the primary technology provider to eight of the world's largest 10 lotteries and continues to grow its ticket printing global market share with more than 40 long-term instant ticket services contracts worldwide. For more information, visit IGT.com and follow us on Facebook and LinkedIn.

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 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 10,500 employees. For more information, please visit www.igt.com.

Cautionary Statement Regarding Forward-Looking Statements 
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, dividends, 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, 2021 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.

Contact: 
Phil O'Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452 
Francesco Luti, Italian media inquiries, +39 06 5189 9184 
James Hurley, Investor Relations, +1 (401) 392-7190

© 2022 IGT

The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.

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SOURCE International Game Technology PLC

FAQ

What is the significance of IGT's new contract with the Texas Lottery?

The new contract secures IGT's position as the Texas Lottery's exclusive supplier for scratch tickets for an additional 10 years, ensuring sustained revenue and operational support.

How much revenue has IGT helped the Texas Lottery generate?

IGT has helped the Texas Lottery generate over $35 billion in revenue for good causes since they began their partnership in 1992.

What popular games does IGT provide to the Texas Lottery?

IGT provides the highly successful Loteria family of games and continues to deliver innovative scratch ticket content.