New Lottery Contracts

RNS Number : 2313W

Spectra Systems Corporation

22 April 2021

 

Spectra Systems Corporation

("Spectra")

New Lottery Contracts

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication and brand protection technologies, and gaming security software, is pleased to announce that it has been selected by a Canadian lottery to provide its Premier64 Integrity internal control system (ICS).  

Spectra has also renewed its contract with a long term US lottery customer and will be converting this customer to its Premier64 Integrity ICS.

These contracts are for a base period of five and four years, respectively, the former with optional renewals of up to five years. 

The aggregate value of the contracts is estimated at $1.0MM over the full term, not including additional game-specific software development revenue.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are delighted to expand our ISO/IEC 27001:2013 certified operations internationally as well as convert a long term customer to our Premier64 Integrity product.  These contracts further increase the long-term revenue stream from our government contracts segments of the business."

Enquiries:

Spectra Systems Corporation

Dr. Nabil Lawandy, Chief Executive Officer                                                Tel: [phone]

WH Ireland Limited

Chris Fielding, Managing Director, Corporate Finance Tel: [phone]

 

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