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IGT in 7 Year Deal With Svenska Spel
I.G.T. CEMENTS ITS RELATIONSHIP WITH SVENSKA SPEL WITH NEW CONTRACT
Seven-year deal to provide equipment and games for Swedish gambling monopoly's land operations.
In a company statement Thursday, International Game Technology plc announced that its subsidiary, IGT Canada Solutions ulc has signed a contract to provide Video Lottery Terminals (VLTs), a VLT Central System, site controllers, games, and operational services to AB Svenska Spel in Sweden as part of a competitive procurement process.
IGT, as legacy GTECH, has been providing video lottery products and support services to the state-owned monopoly Svenska Spel since 1996, the statement reminds readers.
"Throughout the last two decades, we've successfully supported and enhanced Svenska Spel's approach to protecting players while creating advanced solutions to meet their business objectives," said Walter Bugno, CEO, IGT International.
"This contract will help to ensure that Svenska Spel continues to responsibly grow and remain competitive in a rapidly changing marketplace. It will help to increase player engagement, ensure the long-term sustainability of their offering, and provide a safe gaming experience for their players, which is the cornerstone of Svenska Spel's program."
The contract, which commenced on Jan. 9, 2017, is for seven years with the possibility of one-year extensions for up to three subsequent years, for a maximum term of 10 years.
Under the contract terms, Svenska Spel has agreed to order hardware, software and around 60 games from IGT.
In addition to supplying Svenska Spel's VLT wide area network operation, IGT, as legacy GTECH subsidiary Boss Media, began providing Svenska Spel with fully customizable poker software in 2006. Svenska Spel also uses IGT's Casinolink system and IGT slot machines at its land-based casinos.
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