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LOTTERY
INSIDER
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| Vol. 31 No. 3 -- Monday April 18, 2005 |
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WEST GREENWICH, Rhode Island (April 14, 2005) -- GTECH Holdings Corporation (NYSE) today announced fourth quarter and year-end earnings for the fiscal year ended February 26, 2005. "GTECH's fourth quarter and full-year results provide further validation that our business is operationally sound, financially strong, and strategically on track," said GTECH President and CEO W. Bruce Turner. "We enjoyed significant growth in total revenues in both the quarter and the year, driven by the continued strength in same store sales and strong product sales. We also met our overall financial goals and objectives, despite the unexpected revenue holdback in Brazil." "We are pleased with the strong operating performance of the business in fiscal 2005, despite several challenges," said GTECH Senior Vice President and CFO Jaymin B. Patel. "The outlook for fiscal 2006 is promising, and we remain excited about the future. Our significant successes in the marketplace over the past 12 months position us well for continued growth, and provide confidence in our ability to achieve our long-term goals of profitability and value creation for our shareholders."
Operating Results Revenues for the fourth quarter of fiscal 2005 were $337.9 million, up 20.9% over revenues of $279.6 million in the fourth quarter of fiscal 2004. Net income was $43.8 million, or $0.34 per diluted share, down 8.3% from net income of $47.8 million, or $0.36 per diluted share for the same period last year. Revenues for fiscal 2005 were $1.26 billion, up 19.6% over revenues of $1.05 billion in fiscal 2004. Net income was $196.4 million, or $1.50 per diluted share, up 7.2% over net income of $183.2 million, or $1.40 per diluted share, for the same period last year. Net income in fiscal 2005 includes a one-time, after-tax gain of $7.0 million, or approximately $0.05 per diluted share, associated with the sale of the Company's 50% interest in Gaming Entertainment (Delaware) L.L.C. Net income in fiscal 2004 includes a one-time, after-tax gain of $3.3 million, or approximately $0.03 per diluted share, from the consolidation of the partnership that owns the Company's corporate headquarters in West Greenwich, Rhode Island. Earnings per share and dividends per share have been restated to reflect the 2-for-1 common stock split effected in the form of a stock dividend, which was distributed on July 30, 2004, to shareholders of record as of July 1, 2004. As required by EITF 04-8, "The Effect of Contingently Convertible Debt on Diluted Earnings Per Share," which became effective in December 2004, diluted earnings per share for fiscal 2004 and 2003 have been restated from $1.42 per share to $1.40 per share and $1.21 per share to $1.11 per share, respectively. EITF 04-8 requires that all 12.7 million shares underlying the Company's 1.75% Convertible Debentures be included in diluted earnings per share computations, if dilutive, regardless of whether the contingency has been met. Cash Flow and Investments During fiscal 2005, the Company generated $375.2 million of cash from operations. This cash, along with cash generated by the sale of available- for-sale investment securities, was principally used to fund the Spielo Manufacturing Incorporated, Leeward Islands Lottery Holding Company, Inc. (LILHCo), and BillBird S.A. acquisitions of $200.7 million and to fund $245.6 million of systems, equipment, and other assets relating to contracts. In addition, the Company issued $300 million of Senior Notes during fiscal 2005; repaid the remaining $90.0 million of the Company's 7.87% Senior Notes; repurchased $120.7 million, or 5.3 million shares of the Company's common stock; and paid cash dividends of $39.8 million. At February 26, 2005, the Company had $94.4 million of cash and cash equivalents and $196.8 million of short-term investment securities on hand. At the end of fiscal 2005, the Company had no borrowings under its $500 million senior revolving credit facility. Developments in Brazil The Company has recently received written confirmation of an appellate court decision concerning an appeal of a lower court's order freezing GTECH's Brazilian assets and imposing a 30% withholding of GTECH's fees from Caixa Economica Federal (Caixa) as indemnification for potential future liabilities should a civil suit brought by the Public Ministry prevail. GTECH has aggressively defended against the civil suit which the Company believes is based on outdated and faulty information. The three judge panel that heard the appeal issued a unanimous ruling granting partial relief to GTECH that reverses a substantial portion of the withhold-and-freeze order and discontinues future withholding. At the end of fiscal 2005, the amount withheld by Caixa from GTECH was approximately BRR68 million or US$26 million. The court ordered amounts in excess of BRR40 million should be returned to the Company. As of today, the Company is awaiting the return of withholdings which amount to BRR38 million or US$14 million, representing excess funds held in escrow as of April 8, 2005. The appellate court decision is subject to appeal by the Federal Attorneys through a motion for clarification. If such a motion is not granted, the next level of appeal is to the Supreme Judicial Court, the highest level appellate court for civil matters.As background, GTECH's contract with Caixa expires on May 14, 2005. Caixa has announced an aggressive plan to implement a new business model that includes the in-house development of its own central system application, a phased de-installation of GTECH retailer terminals, and the eventual takeover of operations from GTECH. Caixa has conducted four commodities auctions for various products and services and is completing its vendor contracting process. GTECH elected not to participate in the commodity procurements. Caixa has also publicly expressed its intent to enter into a new contract with GTECH or extend its current contract to assist in the migration process. Negotiations have recently begun. The Company will issue updates as appropriate with respect to developments on the recent court ruling and contract negotiations.
Financial Outlook The Company provided guidance for the full year and first quarter of fiscal 2006. For the fiscal year ending February 25, 2006, the Company expects service revenue growth in the range of 8% to 10%, reflecting a 5% to 6% increase in same store sales, the net effect of contract wins and the impact of acquisitions, offset by a number of factors, including contractual rate changes and fluctuations in certain foreign exchange rates against the U.S. Dollar. The Company expects product sales in the range of $180 million to $210 million. GTECH expects service margins of approximately 40% and product margins in the range of 38% to 40%. The Company expects the full year tax rate to be approximately 35%. Based upon this outlook, the Company believes that earnings per share will be in the range of $1.53 to $1.58 for fiscal year 2006, excluding the impact of the adoption of SFAS 123R, share-based payment, which may require companies to expense stock options beginning in the third quarter of the Company's current fiscal year. If GTECH were to adopt this new accounting mandate at that time, it believes fully diluted earnings per share would be in the range of $1.50 and $1.55 per share. For the first quarter of fiscal 2006, ending May 28, 2005, the Company expects service revenues to increase 5% to 7%, versus the first quarter of last year, and product sales in the range of $30 million to $35 million. GTECH expects both service and product margins in the range of 38% to 40%. The Company expects the effective tax rate to be 36% in the first quarter. Based upon this outlook, the Company expects earnings per share to be in the range of $0.33 to $0.36 per share. This compares to the $0.40 per share reported in the first quarter of fiscal 2005, which included a one-time gain associated with the sale of the Company's interest in Harrington Raceway in Delaware. Excluding that gain, recurring earnings per share for the first quarter of fiscal 2005 were $0.35. In giving guidance, the Company noted that ongoing developments in Brazil could positively impact both the outlook for the first quarter and full fiscal year. As the situation is fluid, the Company indicated it would not include the potential impact in current guidance until the situation becomes more certain. However, it noted that under certain assumptions, incremental service revenues for the fiscal year ending February 25, 2006 could be in the range of $25 million to $35 million, and incremental earnings per share in the range of $0.07 to $0.12. Those assumptions include:
In the event that the court order is upheld and the Company receives all monies due by the end of May, $15 million to $20 million in incremental service revenues would occur in the first quarter and the impact to fully diluted earnings per share would be $0.06 to $0.08. The balance would accrue evenly throughout the remainder of the fiscal year. The Company will provide updates as appropriate. Fourth Quarter and Full Year Highlights In the fourth quarter and full year of fiscal 2005, GTECH reasserted its technology leadership and made significant strategic progress on all sides of the business -- Lottery, Gaming Solutions, and Commercial Services. During the quarter, GTECH was selected by the New Zealand Lottery as the lead bidder for a complete lottery system conversion to include a new integrated online and instant lottery system and new terminals, following a competitive procurement. The Company also signed a two-year contract extension to provide online lottery products and services for the Argentine National Lottery. In addition, GTECH's subsidiary Spielo will provide Sweden's Svenska Spel with 2,000 next-generation wide area video lottery terminals (VLTs). Also in the quarter, GTECH further strengthened its corporate leadership and governance with the appointments of Walter DeSocio as Senior Vice President, General Counsel, and Corporate Secretary; and Paget Alves as a new member of its Board of Directors. In addition, GTECH's Board was named the Top Performing Board of Directors in Gaming by HVS Executive Search, an international executive recruiting and compensation consulting firm specializing in the gaming, lodging, and restaurant/retail industries. During fiscal 2005, GTECH was awarded online lottery contracts in Missouri, Thailand, Mexico, Finland, Switzerland, and Germany (Thuringen). ONCE in Spain ordered a total of 12,000 additional handhelds terminals, adding to the existing base of 7,000 handhelds. Singapore Pools also signed a five- year contract with GTECH for ES Connect(TM) and ES Connect(TM) B2B. In addition, lottery contracts were extended in Minnesota, Oregon, Colorado, Luxembourg, South Australia, and Turkey.
Also during the fiscal year, customers in Atlantic (Canada), Jamaica, and Italy awarded GTECH contracts to supply video lottery (or gaming) central system solutions and related services. In December, the Multi State Lottery Association (MUSL) selected GTECH to supply equipment and service for the first ever multi-vendor, multi-state video lottery Wide Area Progressive (WAP) solution. Spielo was also selected to provide the Oregon Lottery with approximately 2,000 PowerStation 5(TM) VLTs. Shortly after the close of the fiscal year, GTECH was chosen to supply the video central control system by the Pennsylvania Department of Revenue in a highly competitive procurement process. GTECH received contracts for Instant Ticket Vending Machines (ITVMs) from lotteries in Virginia, Illinois, Washington, and Maine, further validating the Interlott brand. Moreover, the Arizona and New Mexico lotteries extended the Company's ITVM contracts for three years and two years, respectively. Also in the year, GTECH successfully implemented new online systems for lotteries in Tennessee, Florida, Germany (WestLotto), and Sri Lanka. In the Commercial Services vertical, GTECH continued to expand its services offerings around the globe. GTECH's subsidiary PolCard exceeded expectations on all fronts, signing on with three new bank customers and three additional national merchant accounts. In the third quarter of the year, GTECH acquired BillBird, a leading bill payment and prepay company in Poland. Since that time, BillBird has increased transactions per retailer 21%, and grown the overall retail base from 1,849 to approximately 6,600 VIA(TM) branded retail points-of-presence. Additionally, GTECH began selling prepaid mobile phone top-ups through lottery terminals in Barbados and in Lithuania. In Trinidad and Tobago, the sale of prepaid mobile phone top-ups and bill payments also commenced. "GTECH scored major successes across all three vertical markets: Lottery, Gaming Solutions, and Commercial Services, in fiscal 2005," continued Mr. Turner. "All told, we won a record 32 new contracts, including extensions and re-bids, the total contract revenue value of which is estimated to be between $635 million and $690 million." Fiscal 2005 was a year of major strategic progress, as well, with successful acquisitions in all three vertical markets. "In addition to BillBird, we strengthened our lottery presence in the Caribbean with the acquisition of LILHCo, and our Gaming Solutions strategy took a big leap forward when we entered into an agreement with the Gauselmann Group of Germany to purchase a 50 percent controlling equity interest in Atronic, one of the world's leading video slot machine manufacturers," said Mr. Turner. GTECH, a leading global information technology company with over $1 billion in revenues and 5,300 people in over 50 countries, provides software, networks, and professional services that power high-performance, transaction processing solutions. The Company's core market is the lottery industry, with a growing presence in commercial gaming technology and financial services transaction processing. For more information about the Company, please visit GTECH's website at http://www.gtech.com. SOURCE: GTECH Holdings Corporation. Ministry of Justice Confirms ‘Expert Status’ on SAZKA PRAGUE, Czech Republic (April 8, 2005) -- Pursuant to a decision adopted by the Minister of Justice of the Czech Republic and in conformity with the provisions of Act No. 36/1967 Coll., 'On Experts and Interpreters', the joint-stock company SAZKA a.s., has been entered in the list of institutions authorised to act as experts.
Pursuant to the above decision SAZKA, a.s., may act in the
capacity of a sworn expert in various technical fields and issue expertises
(technical examination of documents and written instruments, checking
authenticity of legal tender) for state administration authorities and
self-governing bodies. SAZKA, a.s., is the most extensive operator of number and
instant lotteries and ranks among the biggest companies organising odds betting
in the Czech Republic. SOURCE: SAZKA, a.s. INTRALOT Signs FOB Contract in FYROM ATHENS, Greece (April 8, 2005) -- INTRALOT signed a six-year contract with the Lottery Organization of "Loterija na Makedonija" regarding the organization, operation and management of fixed-odds betting games. The services that INTRALOT will provide include the sports events odds compilations, the monitoring of transactions on a real-time basis and the risk management. The contract will be executed by INTRALOT in cooperation with Betting Company, the Group’s specialized company in organizing fixed odds betting games, which manages the largest sports book worldwide. The company’s remuneration will be mainly on a percentage of sales. The pilot testing phase of operations will begin within the second quarter of 2005 and punters could play the game throughout the lottery’s 220 points of sale. Mr. Mitko Dimov, General Director of Lotarija na Makedonija stated: "We believe the INTRALOT, based on it’s long experience and know-how on sports betting operation, will deliver added value to the game and will boost the sales of lottery. "We are excited to extend our business in FYROM and our successful cooperation with Loterija na Makedonija. We are confident that our FOB services will contribute significantly in the modernization of the lottery". Mr. Constantinos Antonopoulos, CEO of INTRALOT commented.
It is worth noting that the cooperation between INTRALOT and Lotarija na Makedonija started in 2003 with the provision of an integrated on-line system for numerical and instant games, while the cooperation is expected to expand by introducing new games and by expanding the lottery’s sales network. About INTRALOT (www.intralot.com) INTRALOT, a public listed company on ASE, is a leading supplier of integrated gaming and transaction processing systems, innovative game designs and value added services to state-licensed gaming organizations and financial services providers worldwide. With 30 subsidiaries, 7 business offices and 1,500 people in 26 countries and revenues of € 327 million, the company dominates in Europe, has secured a strong position in South America and has established a foothold in North America, while expanding its presence in S.E. Asia, Australia and Africa. Following a highly successful period of rapid growth, INTRALOT currently ranks 3rd on revenues and 2nd on profits among lottery suppliers worldwide. SOURCE: INTRALOT (www.intralot.com). Georgia Lottery Sets New Record for Sales and Transfer to Education ATLANTA, Georgia (April 14, 2005) – The Georgia Lottery Corporation (GLC) today announced its sales and educational proceeds reached an all-time high for the third quarter of fiscal year 2005, which spanned from January 1, 2005 to March 31, 2005. Georgia Lottery sales totaled $827,478,000 for the third quarter of fiscal year 2005, marking the highest sales quarter in GLC history.
The Georgia Lottery will transfer its fiscal year 2005 third quarter profits to the State Treasury’s Lottery for Education Account in the amount of $218,275,000. This is the largest third quarter transfer in the history of the GLC, bringing the total raised for educational programs in the state of Georgia to more than $7.4 BILLION since the lottery’s inception in 1993. "We are exceptionally pleased with our record-breaking sales and transfer to education," said Georgia Lottery President and CEO Margaret DeFrancisco. "The phenomenal results we’ve achieved are a reflection of our hardworking employees and retailers. We are pleased that our players find our games fun and entertaining, and we remain dedicated to our mission of maximizing dollars for the educational programs we fund." Sales for online and instant games remain strong across the board. Instant games have performed particularly well, led by the popular game $100 Million Cash Spectacular and its corresponding promotion, Million-Dollar Hoopla. Georgia Lottery sales for the first three quarters of fiscal year 2005 surpassed $2.15 billion – more than $100 million ahead of where they were at this same time last year. Georgia Lottery transfers to the Lottery for Education Account for the first three quarters of fiscal year 2005 will total more than $599.5 million – over $10 million more than last year’s record benchmark – making the first nine months of fiscal year 2005 the most successful start in the GLC’s 12-year history. Since its first year, the Georgia Lottery Corporation has returned over $7.4 billion to the state of Georgia for education. All Georgia Lottery profits go to pay for specific educational programs. These include Georgia’s HOPE scholarship program; a statewide, voluntary pre-kindergarten program for four-year-olds; and a wide range of technological and capital upgrades for the state’s schools, technical institutes, colleges, universities and public libraries. For more information, please visit the Media Center on our Web site at: www.galottery.com. SOURCE: Georgia Lottery Corporation media
release. LAS VEGAS, Nevada, USA (April 11, 2005) – JCM American has entered all corners of the Grand Canyon State. The currency-handling company was granted a temporary gaming license by the State last year, and now JCM has been granted several Tribal gaming licenses, allowing the company to immediately conduct business directly with the Tribes. JCM has been licensed by the Gila River Indian Community, which owns and operates Gila River Vee Quiva, Wild Horse Pass and Gila River Lone Butte; the Salt River Pima-Maricopa Indian Community, which owns and operates Casino Arizona at Indian Bend and Casino Arizona at McKillips; and by the Yavapai-Apache Tribe, which owns and operates the Cliff Castle Casino. JCM Director of Compliance Erik Batzloff said, "We are very pleased to have been granted these licenses by the Tribes. JCM’s products provide an important first line of defense for casinos, and we are proud to bring our technology to these casinos throughout Arizona." JCM has supported Tribal gaming since the early 1990s, and currently supplies product to more than 80 Tribes in North America.
About JCM JCM American Corporation is the industry leader in currency
handling systems and provides products, software and services to the gaming,
vending, banking, amusement, and petroleum industries. Since 1995, its products
have validated an estimated $2.2 trillion in currency for the gaming industry
alone. SOURCE: JCM American Corporation media release distributed
by Steinbeck Communications. RICHMOND, Virginia, USA (April 12, 2005) -- The books are not yet closed for fiscal year 2005, but Virginia Lottery officials are already announcing that it will be another billion-dollar year. Executive Director Penelope W. Kyle today announced that Lottery sales passed the $1 billion mark for the fiscal year on Wednesday, April 6. That makes FY2005 the fifth consecutive year that Virginia is a member of the "billion dollar club."
Not only that, but the third quarter of the fiscal year was another record-setter for the Lottery. With sales of $343.5 million for January through March, it became the best third quarter in the Virginia Lottery’s history. "We are working hard to turn over the most revenue possible for the Lottery’s beneficiary: Virginia’s public schools, K-12," said Kyle. "That is what all these records are really about." The Lottery set sales records in the first and second quarters of the fiscal year, along with a record for the strongest calendar year sales in its history for 2004. The record sales for the third quarter were spurred by very strong sales of Scratcher games, as well as the Pick 3 and Pick 4 games. "The Pick 3 game’s record sales come at a great time for players, because they have won much more than we expected," said Kyle. "Pick 3 players won nearly $42 million during the quarter. That is $8.3 million more than anticipated." All Virginia Lottery profits go to K-12 public school education in the Commonwealth. In fiscal year 2004, the Lottery turned over more than $408 million for education. SOURCE: Virginia Lottery media release. Feel the Force! Star Wars™ Instant Scratch Tickets Come to You Exclusively from OGT! 
SAN ANTONIO, Texas, USA (April 13, 2005) -- Oberthur Gaming Technologies ("OGT") announces it has been chosen to bring the biggest film series of all time to the lottery industry! Under the terms of the agreement, lotteries around the world will be able to feature instant and electronic lottery games with Star Wars characters and famous movie shots, including the soon to be released final movie in the Star Wars saga, Episode III Revenge of the Sith! Episode III will feature the emergence of Darth Vader and the answers to all the burning questions that fans have been asking for generations. "We are thrilled by the potential and what it could mean for lotteries’ ticket sales," stated Carla Schaefer, Vice President of New Business Development for OGT. "The opportunity to collaborate with such a global success was one we couldn’t wait to bring to our clients around the world." OGT plans to support Star Wars with a full implementation strategy emphasizing branding, options to use merchandise prizes and going beyond the scratch ticket with OGT’s electronic (Cyber Games™) games. With the impending U.S. film release of Revenge of the Sith on May 19, 2005, multiple Lotteries have already committed to launching their own Star Wars instant ticket and/or Cyber Games™ with OGT. The following Lotteries will launch throughout April and May: Golden Casket Lottery Corporation and South Australia Lotteries (Australia), Loterie Nationale (Belgium), Atlantic Lottery Corporation and British Columbia Lottery Corporation (Canada), Provoloto (Mexico), California Lottery and Colorado Lottery (USA).
About Oberthur Gaming Technologies (www.oberthurgt.com) With more than 35 years of lottery-specific expertise and
over a century's experience in the security printing industry, Oberthur Gaming
Technologies is the world’s leader in the printing of innovative instant
lottery tickets. Comprehensive services include strategic game planning and
innovative conceptual design with OGT’s Dream Team™, mobile gaming,
Cyber Games™ as well as state-of-the-art Global Operations and Lottery
Distribution System (GOLDS). SOURCE: Lyse Trudel, Communications Officer, Oberthur Gaming
Technologies, (+1-514) 254-3600, ext. 101. INDIANAPOLIS, Indiana, USA (April 8, 2005) -- Hoosier Lottery officials are delighted with the quantity and the quality of essays for the inaugural Hoosier Lottery Scholarship Program. High school juniors and seniors from nine northern Indiana counties submitted essays discussing which African-American history maker, in their opinion, has made the most significant impact on American society. On April 22, the Lottery will award 25 $1,000 scholarships to the winning students. "I don’t think we expected such a terrific response from the students," said Hoosier Lottery Community Relations Manager, Donna Southers. "The success of this project and the quality of the applications is a testament to the high-caliber of students who will attend our state’s colleges and universities."
The scholarships are to be awarded to the 25 top essays as judged by a panel of educators from Purdue University, Indiana University, Martin University and USA Funds. The recipients may use the $1,000 scholarship toward tuition at any higher educational institution located in Indiana. The awarded funds will be directly deposited in each student’s bursar account. This project is the Lottery’s first community relations project to support higher education, and the first community relations initiative to be launched by Hoosier Lottery Executive Director, Esther Schneider since being appointed in January. "The Hoosier Lottery Education Scholarship gives the Lottery an opportunity to give back to the community by supporting the education of Indiana students," said Schneider. "Thanks to Donna’s (Southers) leadership and the teamwork efforts of the Communications, Marketing, Legal and Public Relations departments, the scholarship project was executed and completed in an exceptional and expeditious manner." Applicants were required to have an overall GPA of 2.5 or higher in addition to submitting their original and unpublished 500-700 word essay. The pilot counties of the inaugural Program were Allen, DeKalb, Elkhart, Lake, Jasper, LaPorte, Newton, Porter and St. Joseph. "We are absolutely thrilled with the response to our pilot scholarship program," said Schneider. "We look forward to taking the Hoosier Lottery Scholarship Program statewide next year." SOURCE: Hoosier Lottery. Lottomatica’s Board of Directors Announce Executive Appointments ROME, Italy (April 12, 2005) – In a meeting held soon after the end of the Shareholders’ Meeting, the Board of Directors of Lottomatica appointed Rosario Bifulco as Chairman and CEO. Marco Sala, former Joint General Manager, was appointed as General Manager.
On proposing the appointments, the retiring Chairman, Antonio Belloni, declared: "I considered it proper to attribute the responsibilities for management of the Company to the persons who have achieved important objectives in the three-year period that has just ended, and that these people be responsible for the attainment of the ambitious objectives set for the future with greater rationalisation and effectiveness." On accepting the appointment, the new Chairman, Rosario Bifulco, declared: "I appreciate the trust you place in me, which represents a further stimulus to tackle future challenges." Marco Drago, Chairman of De Agostini, Lottomatica’s parent company, thanked Antonio Belloni and recalled the decisive role played by him on the occasion of the Company’s acquisition through the IPO completed in 2002 and the contribution given in these years to Lottomatica’s successes. Marco Drago then expressed his best wishes to the new corporate top management. The new Board of Directors also ascertained the eligibility of the following Board Members to be independent directors, pursuant to the Self-Governance Code for Listed Companies: Paolo Ainio, Sergio Baronci, Pierluigi Celli, Sabino Cassese, Severino Salvemini, Antonio Tazartes. The following persons were appointed as members of the Internal Control Committee: Severino Salvemini (supervisor), Paolo Ainio and Paolo Ceretti, while the following persons were appointed as members of the Remuneration Committee: Pierluigi Celli (supervisor), Lorenzo Pelliccioli and Paolo Ainio. SOURCE: Lottomatica S.p.A. media release. Sugal & Damani First Indian Lottery Company Looking at Global Market NEW DELHI, India (April 14, 2005) -- M/s Sugal & Damani Lottery Agency Pvt. Ltd., an ISO 9001:2000 certified company recently participated in China International Lottery Expo 2005. It has become the first Indian Lottery Company to participate in an International exhibition. Sugal & Damani is a well-known name in the lottery industry and involved with the lotteries since its inception and marketing lottery tickets online through its wide spread network of COMPLOTT Terminals in the different Indian States including Maharashtra and Punjab.
Sugal & Damani has a long experience of operating lottery business in diverse form in a widespread geography and under varying regulatory conditions. The in-house Development of COMPLOTT Application software has been supplemented by development of expertise on networking solutions and infrastructure rollout, Process orientation and Project Management ability of the group has ensured replication of the solution at distant places. After its success in domestic market, Sugal & Damani is offering global lottery operators its system, which they feel well defined for their quality, reliability, adaptability, and expandability and secure operation. Due to their advance and high performance capability, Sugal & Damani integrated system can be easily adopted to define market requirement and specific customer requirements. Its innovative lottery application software utilizes state of art technique and tools, constitute core element of lottery system. The Lottery Application of Sugal & Damani is branded as COMPLOTT. This application is running in over 6,000 point-of-sale terminals generating over 5 Million transactions a day! Which amply proves the robustness of the solution. The COMPLOTT Application has been designed to meet the challenge of high transaction volume, diverse hardware, diverse access media and wide choice of games. While efficient selling of the lotteries through retailers is one visible part of the application the other part deals with ‘back office’, monitoring, administration and management, which constitute key to success of any lottery operation. The response from visitors at the exhibition was encouraging. There was curiosity about capabilities of Indian development in the IT field and several International and Chinese companies have also shown their eagerness to join hands with Sugal & Damani. SOURCE: Sugal & Damani Press Release. SACRAMENTO, California, USA (April 12, 2005) --The California Lottery Commission today moved the Lottery one step closer to launching the multi-state Mega Millions lotto game in California by approving the game's rules and regulations during a Lottery Commission meeting in Sacramento. The Commission approval opened the door for a Lottery task force to receive the Mega Millions lotto game software in mid-May. Once received, the task force will put the software through a series of rigorous tests to ensure that it meets the highest level of security and reliability in accordance with the California Lottery Act's mandated standards and law, said Chon Gutierrez, Acting Director of the California State Lottery. Lottery officials estimate that the Mega Millions game testing could take a minimum of 4 weeks. If all goes smoothly, and the game software meets California's standards, the Lottery will then announce the official Mega Millions launch date.
"We're working hard to bring Mega Millions to California as quickly as we can," said Gutierrez. "We know that players are excited -- and that the other 11 states are waiting for California to join, but we cannot introduce the game until its software has met California's stringent standards for integrity." Adding Mega Millions to the Lottery's slate of games gives players the chance to play a lotto-type game four days a week -- adding a new level of excitement to the lotto games because of the increased number of big jackpots. In the first year, Lottery officials project more than 18 "mega" jackpots of $100 million or more, four of which will be of $200 million-plus. In addition, although the odds of winning a mega jackpot are 1 in 176 million, the overall odds of winning any prize in Mega Millions are 1 in 40, with second-tier 5 of 5 prizes yielding a projected average of $200,000 each. "With California joining Mega Millions, we project that 25 percent of all Mega Millions prizes could be won by Californians," said Gutierrez. Lottery officials also estimate that Mega Millions could increase overall Lottery revenue over the next few years. There could be a net increase of from $300 million to $500 million in the first year. "It's important to stress that Mega Millions is a California Lottery game," said Gutierrez. "And as with all California Lottery games, over time all proceeds stay in California." The California Lottery is having its best sales year ever with approximately $3.25 billion in sales projected this fiscal year, with proceeds to education expected to top $1 billion. SOURCE: California Lottery media release.
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