Gtech Corporation announced today that it has signed a five-year contract with the Maryland Lottery to provide and service 1,000 new Instant-Ticket Vending Machines.
The contract, which includes five one-year extension options, is slated to begin in November 2008. Gtech said it expects revenues of $12 million during the five-year term starting in the first quarter of ‘09.
“In Maryland, nearly 25 percent of instant-ticket sales come from instant-ticket vending machines,” said Jaymin B. Patel, president and chief executive of Gtech, in a prepared statement. “This contract from the Maryland Lottery is further validation of the benefits of Gtech's proven instant-ticket vending machine product.”