Printer Friendly

GTECH SIGNS LETTER OF INTENT TO SELL INSTANT TICKET PRINTING BUSINESS

 WEST GREENWICH, R.I., Feb. 15 /PRNewswire/ -- GTECH (NYSE: GTK) announced today that it has signed a letter of intent with Creative Games International, Inc. (CGI) to sell GTECH's instant ticket printing business, located in Slatersville, R.I., to CGI. Fiscal year 1993 annual revenues for the printing business were approximately $7.5 million; the business has total assets of approximately $1.5 million and employs 60 people.
 Creative Games International is headed by John Carson, former president of Webcraft Games, Inc., a major supplier of instant tickets to the lottery industry.
 In commenting on the anticipated sale, GTECH Chief Operating Officer Robert A. Breakstone said, "The sale of GTECH's instant ticket printing business is a logical business step, allowing us to focus on our core businesses. GTECH will continue to develop products and services to provide automated instant ticket support systems to the lottery industry."
 GTECH Corporation designs, produces, implements, operates and services computerized networks for government-sponsored or licensed lotteries on five continents. In addition, GTECH Corporation provides a wide variety of instant ticket support services. GTECH currently supplies and/or operates lottery systems for 25 U.S. customers and 33 jurisdictions outside of the United States.
 GTECH Corporation employs approximately 1,000 people in Rhode Island and more than 3,100 worldwide.
 -0- 2/15/93
 /CONTACT: Craig Watson of GTECH, 401-392-1000/
 (GTK)


CO: GTECH Corporation; Creative Games International, Inc. ST: Rhode Island IN: SU: TNM

GK-LR -- NY010 -- 6510 02/15/93 10:18 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 15, 1993
Words:247
Previous Article:DUFF & PHELPS: DUFF & PHELPS RATES MCDONALD CORPORATION'S NEW ISSUE 'AA+'
Next Article:DIET CENTER, INC. SECURES FINAL COMPONENT FOR GROWTH
Topics:


Related Articles
GTECH SIGNS AGREEMENT WITH GENERAL INSTRUMENT CORPORATION FOR PURCHASE OF AMTOTE INTERNATIONAL
GTECH SELLS INSTANT TICKET PRINTING BUSINESS
NEW JERSEY LOTTERY ANNOUNCES 'INTENT TO AWARD'
GTECH ANNOUNCES THE LAUNCH OF THE GEORGIA LOTTERY'S QUICK CASH GAME
SCIENTIFIC GAMES TO ACQUIRE OPAX INTERNATIONAL FROM REXAM
SCIENTIFIC GAMES SIGNS EXCLUSIVE UK LOTTERY CONTRACT
GTECH Selected By The Wisconsin Lottery
GTECH Corporation Signs Seven-Year Integrated Services Agreement with the North Carolina Education Lottery for a Complete End-to-End Lottery Solution.
GTECH to Acquire Creative Games International.
GTECH Printing Corporation Selected by the Rhode Island Lottery as a Provider of Instant-Ticket Printing Services.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters