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Non-Tech : International Lottery and Totalizator Systems (ITSI)
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To: Vinnie who wrote (83)6/15/1998 8:26:00 PM
From: LEO RISHTY  Read Replies (1) of 160
 
In case you did not fully read the press release. ITSI will own 52.4% of PMGC. The Philippine lottery should produce revenues of $200 million a year once there are 2000 terminals installed and running. This means PMGC will get approximately $9.5 million a year in commission for managing and operating the system. ITSI'S share will be approximately $5 million. ITSI must supply the system with an additional 600 terminals over the next year at a price of about $6,000.00 each or a total contract to ITSI of $3.6 million. This transaction means that ITSI will have a steady income of more than $5 million a year for the next 7 years.
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