Italian gaming company Lottomatica SpA said Sunday its wholly-owned subsidiary, GTECH Corporation, has been chosen as the preferred bidder to negotiate a seven-year contract with the New York Lottery to provide new online lottery solutions and services.
In a statement, Lottomatica said the contract can be extended for an additional three years.
The New York Lottery estimates the total value of the contract to be more than $550 million over the contract period.
The proposed contract, which is expected to start in March 2010, follows a competitive procurement process.
GTECH has been a lottery technology and services provider to the New York Lottery since 1986.
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