GTECH sees $130 mln in revenue from 7-yr U.S. lottery contract

MILAN, July 25 Fri Jul 25, 2014 7:00am EDT

MILAN, July 25 (Reuters) - Italian gaming group GTECH has signed a seven-year contract with the Tennessee Lottery which it expects to yield $130 million in total revenue.

Under the deal, a unit of GTECH will provide new lottery systems and related services starting from April 2015. The contract could be renewed for another seven years after that.

GTECH, which recently announced a deal to buy Las Vegas-based slot machine maker IGT for $4.7 billion, already manages several state lottery concessions in the United States. (Reporting by Francesca Landini; Editing by Pravin Char)