Gaming giant IGT has extended its reach in the US online lottery sector by signing up with the Oregon State Lottery in a five-year deal.
Under the terms of the deal, the state lottery will be able to update its lottery platform, with IGT offering its software and processing equipment, while the lottery will also be able to upgrade their stock of self-service lottery vending machines.
The agreement, which will include the ability to extend the arrangement for two further periods of five years, is similar to other partnerships that IGT has created with lottery operators, including deals with the Mississippi Lottery Corporation and the Minnesota State Lottery.
The benefits of the arrangement for IGT are obvious and will enable the company to increase its influence in the US lottery industry, as well as boosting its already impressive financial performance. Figures released for the second quarter of 2019 showed that IGT had produced adjusted revenue of $454 million, which is a rise of 5% on the same point in 2018.
Speaking about the arrangement with IGT, Oregon Lottery Director Barry Pack said that it would help the operator to improve the efficiency and attractiveness of their product:
“We look forward to IGT delivering its latest technology to modernise our central system – allowing us to attract new players and implement new strategies for revenue growth.”
The deal with IGT is the latest development in the growing betting industry in the state, which recently legalised sports betting. Casino gaming is limited to the state’s tribal organisations but the Oregon Lottery is also due to enter the sports betting market with the launch of a new app called Scoreboard, that will enable Oregon residents to bet on sports, which could make a significant contribution to the $37 million that they hope to raise through sports betting over the next three years.