Michigan Lottery Extends Contract With GTECH

By: AP
By: AP

LANSING, Mich. (AP) -- The Michigan Lottery has extended its contract with a company that helps run games such as Powerball, Mega Millions and Club Keno.
The lottery announced Friday that the contract with GTECH Corp. now will run through mid-January of 2017. The initial six-year deal was scheduled to expire in January 2015.
Under terms of the contract, the bulk of the company's compensation is based on a percentage of sales. The contract extension has an estimated value of more than $53 million.
GTECH is based in Providence, Rhode Island and has worked with the state since 1988.
The lottery contributed more than $734 million to Michigan's K-12 schools fund in the last fiscal year.

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