Texas Lottery Extends IGT Partnership Month After Renewing Scientific Games
Posted on: October 7, 2022, 01:47h.
Last updated on: October 7, 2022, 02:24h.
The Texas Lottery, the nation’s fourth-richest lottery organization in terms of ticket sales, has renewed its relationship with International Game Technology (IGT).
The London-based gaming and lottery manufacturer has been with the Texas Lottery since its inception in 1992. The partnership will now run through at least August 2034 after lottery commissioners this week signed a 10-year extension with IGT.
IGT has been a valued partner and has helped the Texas Lottery generate more than $35 billion in revenue for good causes,” explained Gary Grief, executive director of the Texas Lottery Commission. “We look forward to IGT’s continued offering of innovative and entertaining scratch tickets in the years to come.”
IGT and Scientific Games both produce scratch-off tickets for the Texas Lottery, which generated revenue of more than $8 billion in 2021. Only the lotteries in New York, Florida, and California sold more lottery tickets last year.
Texas Loteria
IGT is responsible for the highly successful Loteria family of games that are sold across the country by state-run lotteries. In Texas, IGT’s Loteria scratch-offs are sold at six different price points — $1, $3, $5, $10, $20, and $50.
Loteria games sold more than $1.6 billion of tickets last year in Texas. IGT is also behind the Texas Lottery’s popular Super Ticket games.
Extending IGT’s pact, the lottery says, will “provide the Texas Lottery with continued access to IGT’s catalog of player-favorite games, licensed content, and innovative designs and features.”
In addition to scratch-offs, IGT provides the Texas Lottery with lottery operations and services, including its central system, data center, field sales, retail equipment and support, warehouse distribution, marketing, and customer service.
“For 30 years, IGT has worked closely with the Texas Lottery to pilot some of our most innovative products,” said Jay Gendron, IGT’s chief operating officer of its global lottery division. “These industry-leading lottery products and supporting operational services provide a multitude of benefits for players and retailers.”
IGT says it is the primary technology provider to eight of the world’s 10 largest lotteries.
Las Vegas-based Scientific Games is another lottery global power player. Last month, the Texas Lottery also extended its partnership with Scientific Games by 10 years through 2034.
Education Funding
Texas uses its lottery to prop up public education in the Lone Star State. Of each dollar in revenue, about 67% goes back to players in the form of prizes. Retailer compensation is 5.3%, some 3.3% is set aside to cover lottery commission expenses, and 0.3% is directed towards veterans programs.
The remaining 24.3% is allocated to the Texas Education Foundation School Fund. The trust supports K-12 public education.
From 1992 until 1997, proceeds from the Texas Lottery supported the state’s General Revenue Fund. Since 1997, the lottery has contributed more than $30 billion to the Foundation School Fund.
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Source: casino.org
