Autotote is buying Scientific Games which will give Autotote a global reach since Scientific Games has lotto concessions in 50 foreign countries, including 11 in Europe.
Keep in mind that 2/3 of lottery sales are outside the U.S.
And ELOT cognoscenti will remember this press release from last May...
<<MILFORD, Conn.--(BUSINESS WIRE)--May 12, 1999--
EXECUTONE Information System's (NASDAQ: ELOT) subsidiary, eLottery, Inc. announced today that eLottery has entered into a Strategic Partnership Agreement with Autotote Corporation (AMEX:TTE).
The companies have agreed to jointly market eLottery's web-based lottery retailing to Autotote's domestic and international governmental lottery customers. The Companies agreed to develop an interface that will allow Autotote's lottery systems to process eLottery's web-based retailing of lottery tickets. In addition, eLottery agreed to license its instant ticket gaming systems to Autotote for use by its lottery clients and other selected state lotteries.
eLottery president Michael Yacenda stated, "The combination of eLottery's web-based retailing with Autotote's locations and services means that both our companies will benefit. We will now be able to jointly market to governmental lotteries our proven, on-net retail distribution technology for lottery tickets."
According to eLottery's incoming chairman Robert Berman, "This agreement with Autotote is an important milestone for eLottery. It affirms our belief that our web-based lottery ticket retailing for governmental lotteries is complementary, not competitive, with traditional lottery companies such as Autotote. We expect that other traditional lottery companies will agree. Our proven ability to handle spending limits, border control, age controls and the appeal of eCommerce to a more upscale player demographic were important to this agreement and we expect they will also be to government lotteries."
The mission of eLottery, Inc. is to become a web-based retailer of governmental lottery tickets. Using its past experience and its market tested and secure products, eLottery is committed to leading the governmental lottery industry into the eCommerce market.
The Company has developed, installed and operated systems that have processed 10 million eCommerce lottery ticket sales and transactions. eLottery's corporate site is on the World Wide Web at elottery.com with a demonstration site at elotteryworld.com.
Executone Information Systems, Inc. develops, markets and supports voice and data communications and information systems. Products and services include telephone systems, voice mail systems, inbound and outbound call center systems, and specialized healthcare communications and workflow management systems. Executone's products and services are sold under the EXECUTONE, INFOSTAR, IDS, LIFESAVER, and INFOSTAR/ILS brand names. Executone is on the World Wide Web at executone.com.>> |
