International Game Technology has signed a comprehensive contract extension of 20 years with Rhode Island Lottery. IGT will remain as the sole supplier for lottery, ilottery and instant ticket solutions, and services, through 2043.
Gaming technology company IGT Global Solutions Corporation said it would provide solutions and services throughout the duration of the agreement and commit to maintain 1,100 jobs within the state. State regulators passed a bill authorizing the extension last year.
According to the terms of this new agreement, IGT and Bally’s Corporation will create a joint-venture that will become the exclusive provider of video lotto terminals for the Lottery starting in January 2023.
IGT also plans to replace the Rhode Island Lottery’s central lottery system based on draws with Aurora and its related terminals, telecommunications gear and lottery terminals later in this year.
IGT plans to replace the video lottery system central system of the lottery in 2025, and will upgrade its ilottery in 2023. This system offers a suite of enhanced analytics. The company has promised to replace all central systems between 2033-2035 with the latest technology.
This group will continue to be the sole printer of Instant Tickets for the Lottery.
Mark Furcolo said, “The Rhode Island Lottery is a long-standing partner of IGT and we have benefited from many IGT innovations, such as exciting ilottery and new sophisticated ways to print tickets that now form part of our portfolio.
This extension marks an important milestone and we are looking forward to the continued implementation and success of advanced lottery solutions and systems for many more years.
Rhode Island Governor Dan McKee, in June 2021 signed legislation passed by Rhode Island General Assembly, May 2021 authorising the Lottery to extend. IGT agreed with certain economic initiatives in connection with the extension. These include agreeing to keep 1,100 Rhode Island jobs and pay a minimum Rhode Island salary starting in 2022. They also agreed to pay $27 million to the state (13,5m each in 2023 and 2024), and invest $155 million in Rhode Island until 2043.
Jay Gendron is IGT’s Chief Operating Officer of Global Lottery. He said, “IGT’s history has its roots in Rhode Island, as it is the most successful of the high-tech startup companies, and the Rhode Island Lottery was our first customer.
IGT’s great jobs and people have always been the basis of our success. This is one reason why we are able to continue supporting the Lottery throughout the decades of our partnership. We are dedicated to providing unmatched gaming experiences over the next twenty years that will engage players and maximize growth for Rhode Island’s third largest revenue stream.
In the fiscal 2020 year, the Rhode Island Lottery contributed $293.9m towards the General Fund of the State. Before the pandemic in 2019, this number was almost $400m.
In accordance with the legislation passed in 2011, legislators decided that the upfront payment made to Rhode Island by IGT would be increased from $25m up to $27m. IGT, Bally’s and the Rhode Island state government have also committed to keeping their headquarters there until 2043.
A commitment for funding gambling problem schemes will also be raised from $125,000 minimum to at least $200,000