IGT pens long-term extension with Barbados Lottery licensees
International Game Technology (IGT) has announced that its IGT Global Services subsidiary has signed a 10-year extension to a private management agreement with the four licence-holders and beneficiaries of the Barbados Lottery.
Under the deal, IGT will continue to provide its sales, marketing, advertising and retail agent services to the four parties.
IGT will deploy new retail terminals and ticket checkers, introduce self-service vending machines to the market and provide peripheral equipment for social space games – numbers games displayed on a monitor and played in locations such as bars and restaurants.
The agreement also covers the ongoing provision of technologies for transaction processing and retail requirements.
IGT has operated the Barbados Lottery since the Lottery’s inception in 2005, supporting its beneficiaries the Barbados Olympic Association, the Barbados Cricket Association, the Barbados Turf Club and the National Sports Council.
“Our long-term partnership with IGT has proven to be the major driving force behind our ability to consistently contribute to the development of sports, youth, and cultural programs in Barbados,” the beneficiaries said in a joint statement.
“A significant portion of our organisations’ income is derived from IGT-generated revenues, and it is these funds that enable us to deliver vital programs for all Barbadians to enjoy. This extended partnership with IGT is the proven and optimal way in which we can boost our revenues and sustain programs well into the future.”
Declan Harkin, chief operating officer, international lottery at IGT, added: “This amendment to extend our private management lottery services in Barbados demonstrates all four beneficiaries' confidence in IGT's expertise in responsibly growing the Lottery.
“We look forward to enhancing this robust program through new and existing solutions that engage players, drive growth, and generate funds for good causes that ultimately benefit all Barbadians.”
The extension comes after IGT announced that Alberto Fornaro is to step down as its chief financial officer earlier this week, with Timothy Rishton set to take on the role on an interim basis.