IGT Extends Californian Lottery Agreement
The London-headquartered multinational company that provides gambling technology International Game Technology (IGT) has announced it has successfully negotiated a contract extension with the California State Lottery.
According to the new deal, IGT will remain lead systems provider for the Californian Lottery. This means IGT will continue to service its flagship product – player management and shop terminal provisions – for another seven years.
Bearing in mind the current deal, and the latest renewal, the next extension of the agreement is scheduled for October 2026.
IGT and the Californian Lottery have a long history of mutual cooperation. The first partnership agreement between the two sides was signed in 1986, only two years after the foundation of the Californian Lottery.
Since then, this State agency has managed to become the second biggest lottery in the United States, earning around $91.4 billion in sales, and making a significant contribution of around $31 billion to California’s public education system.
IGT Group Senior Vice-president of North America, Jay Gendron, was extremely pleased with the latest move. Gendron said the two sides had enjoyed a long and successful partnership for more than three decades, and that the extension was a logical step.
Investing in Education
He added IGT had assisted the Californian Lottery in increasing its sales and funds over the past several years. Gendron was more than pleased that a significant portion of revenue has been allocated for education over the years. 25% of the lottery sales from the most recent fiscal year ($6.276 billion) returned to education.
When it comes to the joint future endeavours, IGT plans several upgrades for the Californian Lottery, including the new Aurora backend reporting system, and OpenRetail retail software.
Founded in 1990, IGT today has operational offices in Nevada, Rhode Island, and Italy and employs 12,000 people.