International Game Technology PLC (NYSE: IGT) disclosed that its unit IGT Global Solutions Corporation has signed a contract with Supreme Ventures Limited. As per the deal, the company entered into a seven-year contract expansion with Supreme Ventures to proceed with the offering of world-class lottery technology, content, and unending services and assistance in Jamaica.
This contract between the companies has shown their commitment towards their clients and is continuously endeavoring to increase the value for shareholders. Both the firms are creating value for their shareholders through innovative gaming solutions. This agreement also shows the confidence of Supreme Ventures in the performance and services of IGT.
The previous contract, which is scheduled to end in 2026, this new agreement will be ended in 2033 as the contract is an extension contract for seven years. Through this latest contract, IGT will continue strategically helping SVL for the next 12 years.
Share of International Game Technology PLC (NYSE: IGT) plunged 2.76% during the trading session of Thursday. It has recorded a trading volume of 1.22 million as compared to the average volume of 2.70 million. In the past 52-weeks of trading, this company’s share has fluctuated between the low range of $3.59 and the high range of $19.11. International Game Technology PLC has a total market capitalization of $3.72 billion.
As per the contract, IGT will continue to provide lottery products, games, and services, and will continue to operate and maintain its stable, high-performance central system, terminals, and communications network as part of the Facilities Management Integrated Services Agreement, generating high transaction volumes daily for the lottery business, offering marketing support; and delivering field services.
Additionally, IGT will also offer mobile phone top-up essential services to SVL. Moreover, it also offers operational support for its VLT program, comprising field services, installations for new retailers, & marketing & sales support.