IGT Secures Virginia Lottery Contract Extension
International Game Technology (IGT) has secured a significant extension on its tech supply contract with the Virginia Lottery, which will now last for additional three years.
The extension includes an option for three additional one-year extensions. That means with the existing contract time added, the partnership could go all the way to 2033.
As part of this agreement, IGT will undertake a comprehensive upgrade of the Virginia Lottery’s central system, point-of-sale hardware, and communications network, with the target completion date set for October 2025.
“IGT has worked closely with the Virginia Lottery for more than 20 years to deliver world-class, innovative lottery solutions and services,” said Jay Gendron, IGT COO, Global Lottery, in a press release.
“The upgraded technology being deployed for the Virginia Lottery as part of our latest extension will offer increased flexibility for the Lottery to easily manage its back-end operations.”
Benefits and Future Prospects
This technology overhaul aims to modernize and optimize the Lottery’s operations. IGT has been the provider of the Virginia Lottery’s tech since 2000, and instant tickets since 2020.
This new contract extension gives them the long-term certainty to enable heavy investment in upgrades in all areas.
The changes will include the replacement of approximately 5,500 lottery terminals with the Retailer Pro S2, enhancing performance, volume, and the Lottery’s ability to easily add new features as they are developed.
The upgrade also includes new progressive jackpot games for print and online services.
“The introduction of a progressive jackpot feature to the Lottery’s Print ‘n Play games will provide players with engaging new experiences,” said Gendron.
Under the contract terms, IGT will upgrade the Lottery’s central retail system to its latest Aurora version, part of the operator’s OMNIA lottery solution.
IGT’s Global Status
In addition to its strengthened relationship with the Virginia Lottery, IGT has been expanding its global lottery footprint.
The company recently extended its contract with the British National Lottery ahead of the platform’s transition to a new licensee, Allwyn, set to take over on February 1.
IGT’s role in powering the UK National Lottery’s core system is part of its broader global strategy outside North America.
IGT provides tech solutions to 25 lotteries in the U.S., as well as eight of the world’s ten largest lotteries, and 16 of the top 25 lotteries.
With a workforce of approximately 10,500 employees, IGT maintains a local presence in dozens of markets.
It also made our list of the biggest gambling business losses of 2023, after June saw it pay out a huge $419 million settlement over its past social casino business, DoubleDown.
It was the biggest fine of the year until November, when the British joint operator of BetMGM Entain was handed a $739 million fine by the UK tax service His Majesty’s Revenue and Customs.
IGT has been reportedly considering selling its online slots and game development business, as 60% of its revenues come from its lottery division. The global gaming slots division of IGT, which powers slots across U.S. casino floors, including Virginia casinos, is valued at some $4 billion to $5 billion.
Most Popular
Nevada’s Gaming Distance Laws Have Quietly Changed
Nevada lawmakers recently amended a 26-year-old law that restricts the distance between casinos and schools or places of worship. However, the potentially controversial change was implemented without public discussion or […]
Yaamava’ Resort & Casino Wins USA Today’s ‘Best Casino Outside of Las Vegas’ Award
The Yaamava’ Resort & Casino at San Manuel, located in Highland, California, has recently received the prestigious title of “Best Casino Outside of Las Vegas” (2023) in the USA Today […]
Blackstone Contemplating Selling Half of its Bellagio Real Estate Stake
Blackstone Inc is reportedly considering selling half of its stake in the real estate of the Bellagio hotel and casino resort in Las Vegas. The giant New York-based investment firm […]
Thrilling Las Vegas Grand Prix Ends in Comeback Max Verstappen Win
In an eventful and historic Las Vegas Grand Prix, Red Bull’s Max Verstappen overcame multiple challenges to clinch his record-extending 18th victory of the season. The Formula 1 race in […]
Michigan Head Football Coach Jim Harbaugh Facing Lengthy Future Suspension
When this last weekend began, it looked like the NCAA and Michigan head football coach Jim Harbaugh had agreed to a resolution of his issues. His problems were regarding his […]
