IGT Signs Five Year Contract Extension With Kentucky Lottery

Kentucky was the third US state to offer online lottery ticket sales back in April 2016 and they’re clearly happy with the work done by technology partner IGT. IGT has in one form or another provided technology services to the Kentucky Lottery since it launched in 1989. International Gaming Technology subsidiary IGT Global Solutions Corporation has agreed to a five year extension with the Kentucky Lottery Corporation to continue the relationship. The terms of the new agreement include an increase in the technology platforms that IGT will provide to the Kentucky State Lottery.

IGT is perhaps best known for their casino gaming devices. The company traces a lineage back to the original invention of video poker machines in the 1970s. They’ve done a good job keeping up with the changes in the United States gaming marketplace and have become a major player in state lotteries such as the Mississippi and Kansas State Lotteries. They’ve also leveraged their technical expertise to create a strong presence in the nascent US sports betting market. Their market share will almost certainly increase after they recently introduced some mind blowing new sports betting terminals.

The previous contract between IGT and the state of Kentucky had five one year options and the lottery commission is exercising all of them. Under the terms of the deal, IGT will update existing technology and supply new self service lottery vending machines:

IGT will provide the Lottery with additional 575 GameTouch™ 28 self-service vending machines and equip approximately 1,400 total GameTouch 28, GameTouch™ 20, and GameTouch™ Draw machines with cashless functionality that enables players to use credit or debit cards to purchase lottery products. In addition to these products, IGT provides the Kentucky Lottery Corporation with facilities management, field service, call center services, and marketing support.

Jay Gendron, IGT Chief Operating Officer, Lottery, pointed to his company’s innovative approach to gaming technology:

“IGT leads the global gaming industry by focusing our innovations in content and platform technology that deliver an outstanding player experience. Through this contract extension with the Kentucky Lottery Corporation, we will be adding IGT’s convenient cashless feature to existing self-service vending machines to help the Lottery attract a new demographic of players and maximize sales growth.”

Tom Delacenserie, Kentucky Lottery Corporation President and CEO, also cited IGT’s focus on innovation as the reason for the contract extension:

“The Kentucky Lottery Corporation looks forward to continuing the innovation and growth we have experienced with IGT since the Lottery began in 1989. IGT’s forward-thinking products and solutions have delivered convenience to our retailers and players for the last 30 years, and we’re pleased to continue our longstanding partnership in the years to come.”

Investment analysts have been quick to suggest IGT as a company that could see a big jump in revenue with the current boom in United States sports betting. IGT will host their quarterly earnings call for the period ending September 30, 2019 on Thursday, November 14.

About the Author: Jim Murphy

For more than 25 years, Jim Murphy has written extensively on gambling theory and practice. Jim Murphy has been quoted in media from the Wall Street Journal to REASON Magazine. Murphy worked as a radio and podcasting host broadcasting to an international audience that depended on his expertise and advice.