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IGT Extends Private Management Agreement with The Barbados Lottery License Holders for 10 Years

Amendment includes possibility of two additional five-year renewal terms

LONDON, Dec. 4, 2019 /PRNewswire/ -- International Game Technology PLC (NYSE: IGT) announced that its subsidiary, IGT Global Services Limited (hereinafter "IGT"), has signed a 10-year extension to its existing agreement to provide its Private Management Lottery services to the four license holders and beneficiaries of The Barbados Lottery.

IGT is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships...

The extension enables IGT to continue to provide its current private management lottery services, including its industry-leading sales, marketing, advertising, and retail agent services. As part of IGT's ongoing services under the original agreement, it will deploy new retail terminals and ticket checkers, and will introduce self-service vending machines to the market. IGT will also continue to provide peripheral equipment for social space games, which are numbers games displayed on a monitor and played in settings like bars and restaurants.

IGT has operated The Barbados Lottery since the Lottery's inception in 2005. Through its partnership with Lottery beneficiaries the Barbados Olympic Association, the Barbados Cricket Association, the Barbados Turf Club, and the National Sports Council, IGT has helped these national organizations achieve essential revenues to support their individual missions.  

In a joint statement, Lottery beneficiary officials Sandra Osborne, President of the Barbados Olympic Association; Conde Riley, President of the Barbados Cricket Association; Rosette Peirce, CEO of the Barbados Turf Club; and Neil Murrell, Acting Director of Sports, the National Sports Council said, "Our long-term partnership with IGT has proven to be the major driving force behind our ability to consistently contribute to the development of sports, youth, and cultural programs in Barbados. A significant portion of our organizations' income is derived from IGT-generated revenues, and it is these funds that enable us to deliver vital programs for all Barbadians to enjoy. This extended partnership with IGT is the proven and optimal way in which we can boost our revenues and sustain programs well into the future. We are excited to continue our partnership with IGT for years to come as we continue to focus on our missions and foster the development of our Barbadian talent."

"This amendment to extend our private management lottery services in Barbados demonstrates all four beneficiaries' confidence in IGT's expertise in responsibly growing the Lottery," said Declan Harkin, IGT Chief Operating Officer, International Lottery. "We look forward to enhancing this robust program through new and existing solutions that engage players, drive growth, and generate funds for good causes that ultimately benefit all Barbadians."

The amendment extends IGT's current agreement from 2023 through to 2033 and includes a provision for two additional five-year renewal terms. As part of the agreement, IGT will continue to provide a full suite of its world-class technology to support transaction processing and retail requirements, supported by its industry-leading marketing, advertising, retail sales, and draw show solutions and content deployment.

About IGT
IGT (NYSE:IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Digital and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. 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 over 12,000 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, 2018 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. Nothing in this news release is intended, or is to be construed, as a profit forecast or to be interpreted to mean that financial performance of the Company for the current or any future financial years will necessarily match or exceed the historical published financial performance of the Company, as applicable. 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 its 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, +39 3485475493; for Italian media inquiries
James Hurley, Investor Relations, +1 (401) 392-7190

© 2019 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 IGT