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Encyclopedia > GTech

GTech is a company based in West Greenwich, Rhode Island, in the United States. GTech manages many state lotteries in the United States and also has contracts to manage local and national lotteries in Europe, Australia, Latin America and Asia. As of 2005, the company is diversifying into casino management in the United States. It is on the forefront of online lottery technology development. West Greenwich is a town located in Kent County, Rhode Island. ... State nickname: The Ocean State, Little Rhody Official languages None Capital Providence Largest city Providence Governor Donald Carcieri (R) Senators Jack Reed (D) Lincoln Chafee (R) Area  - Total  - % water Ranked 50th 4,005 km² 32. ... A lottery is a popular form of gambling which involves the drawing of lots for a prize. ... A satellite composite image of Europe Europe is the worlds second-smallest continent in terms of area, covering around 10,790,000 km² (4,170,000 sq mi) or 2. ... Latin America consists of the countries of South America and some of North America (including Central America and some the islands of the Caribbean) whose inhabitants mostly speak Romance languages, although Native American languages are also spoken. ... World map showing Asia (geographically) Asia is the central and eastern part of Eurasia, and the worlds largest continent. ... Casino (disambiguation). ...


According to its website GTech controls 70% of the worldwide instant ticket and online lottery business. The company employs over 5,000 people worldwide and earned over $US 1 billion in 2004. The company has acquired several subsidiaries outside of the United States, including Interlott, LilHCo, Spielo, and IGI Europrint. It maintains operations centers in Australia, Belgium and Brazil. In September of 2005, the company announced that it was putting itself up for sale. Accoridng to press reports, this was done in response to an unsolicited bid for the company by the private equity arm of Goldman Sachs. Private equity is a broad term that refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. ... The Goldman Sachs Group, Inc. ...


GTech's ticker symbol on the New York Stock Exchange is GTK. New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE), known as the Big Board, is the largest stock exchange in the world, although its trading volume was exceeded by that of NASDAQ (historic comparison graph {pdf}) during the 1990s. ...


External links

GTech Home Page


  Results from FactBites:
 
Columns: GTech has winning lottery ticket, checkered past (853 words)
GTech was born in 1981 when founders Guy Snowden, Victor Markowicz and Robert Stern, backed by the Texas Bass brothers and their money guru Richard Rainwater, began chasing lottery contracts.
GTech was a bidder against Automated Wagering in 1996 for Florida's lottery business, a 10-year, $500-million contract that then was the largest nonconstruction pact in state history.
In 1999, GTech picked Tampa native Bruce Turner, an industry analyst and a former research director with Salomon Smith Barney, for its board of directors.
State: Brazil probe of Gtech could upset its Florida Lottery deal (356 words)
Gtech, based in West Greenwich, R.I., has been embroiled in a scandal in Brazil for much of this year.
Gtech, which has contributed more than $100,000 to the Republican Party of Florida over the past eight years, wasn't the low bidder, but officials said it impressed lottery executives more than the other bidders.
Gtech operates 26 state lotteries in the United States and operates in 46 countries.
  More results at FactBites »


 
 

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