GTECH will make you happy when your number comes up -- lottery number, that is. One of the world's leading operators of lottery systems, GTECH supplies or operates lotteries for customers in some 60 countries. It designs, installs, and operates lottery and instant ticket systems and furnishes the hardware and software to keep lotteries humming. It also develops and operates online and video lottery systems, and other online and gaming systems through units such as software and systems developer Boss Media, and transaction and information management systems provider Finsoft. GTECH is a subsidiary of Italian lottery giant Lottomatica.
The company operates through several businesses. Its GTECH Lottery services lottery clients and accounts for more than a third of Lottomatica's revenues. The company also operates an instant ticket printing business through its subsidiary GTECH Printing Corporation, while its GTECH G2 houses its interactive gaming and betting units, including Boss Media, Finsoft, and St. Enodoc. GTECH G2 develops and operates online poker, bingo, and sports betting sites, and has more than 150 gaming customers throughout Europe.
As a leader in outsourced lottery services, GTECH offers cost savings to governments around the world that look to lotteries as a means to raise funding without resorting to additional taxes. Many of GTECH's service contracts consist of long-term agreements to operate regional and national lotteries. Among its high-profile assignments, GTECH is part of a consortium with Camelot Group that runs The National Lottery in the UK. GTECH has contracts with about 25 of the nearly 45 lottery authorities in the US; it runs the lotteries of Texas and Florida, among other states. It also runs more than 50 non-US lottery authorities. While it has expanded into a global leader, GTECH must compete for bids with Lottomatica rivals such as Scientific Games and Greece's Intralot.
Lottomatica, controlled by family-owned holding company De Agostini, acquired GTECH in 2006 for $5.1 billion, creating one of the world's largest gaming companies. – less
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