Spielo Signs Lucrative NY Lottery Contract Extension20th November 2009 8:04 am GMT
Extending its relationship with the New York Lottery, Lottomatica Group subsidiary Spielo Manufacturing ULC has signed a seven-year extension to its Video Lottery Terminals (VLT) participation agreement with the lottery, which is expected to earn the company approximately $75 million to $85 million over the term of the contract.
The contract extension begins January 1st 2011 and runs through December 31st 2017, extending the relationship between the two parties going back to 2003.
Under the agreement, which is subject to approval by the Attorney General and State Comptroller, Spielo will continue to operate approximately 2,000 VLTs in the state. Additionally, Spielo will introduce approximately 675 new, innovative prodiGi Vu VLTs, which will be powered by the sensys platform.
"This is Spielo's second extension and third amendment to its agreement with the New York Lottery, and it has affirmed the Lottery's confidence in our abilities to provide top-performing products and excellent service," said Spielo President and CEO Victor Duarte.
"We are especially excited to introduce our next-generation prodiGi Vu cabinet and sensys platform, which will generate even more revenue for the state through enhanced player appeal and compelling game content."
The new VLTs will be introduced to existing and new venues including the Aqueduct Racetrack. Over the term of the extension, Spielo will also upgrade many existing VLTs to the sensys platform and prodiGi Vu.
"Over the last seven years, Spielo has proven to be a dedicated business partner, from both a performance and service perspective," said Jim Nielsen, Director of Video Gaming for the New York State Division of Lottery. "We're pleased that our relationship is growing with them in tandem with the growth of our gaming program."