A day to remember for Lottomatica, queen of the blue chips on the Ftse Mib with a rise of 2,53% after announcing a new order for the American subsidiary Gtech over the weekend.
The New Jersey Treasury Department has in fact expressed its intention to enter into a contract with Northstar New Jersey Lottery Group - a joint venture between GTech, Scientific Games and Osi Ltt Nj Holdings - for the supply of marketing and sales services in favor of the New Jersey Lottery .
The service contract has a duration until 30 June 2029 and is expected to be signed within 60 days. Gtech and OSI will each own approximately 41% stake in Northstar NJ and a subsidiary of Scientific Games will own approximately 18% stake.
Northstar NJ's business plan will deliver a 6,07% annual growth rate over the first five years, generating an average $1,18 billion in annual net income for the state over the five-year period, equal to a average annual increase of $211 million, and more than $1 billion in total revenue over the five-year period than the state would have realized, based on its forecasts, if the lottery business had continued as in the past.
Northstar NJ will be entitled to receive annual financial incentives in the event of annual performance above certain targets and at the same time has committed to the payment of a penalty to the State of New Jersey if a pre-established minimum level of performance is not met. Northstar NJ will also pay the State $120 million upon signing of the Agreement
