Elsym Consulting, Inc. Subsidiary, Ticketrac, signs licensing agreement with GTECH
Patented GTECH Process Helping Retailers Manage Daily Instant-Ticket Sales Now Available Through Elsym Consulting, Inc. Subsidiary
PROVIDENCE, Rhode Island, USA (May 29, 2008) – GTECH Corporation, a wholly-owned subsidiary of Lottomatica S.p.A., announced that it has entered into a licensing agreement with Ticketrac, Inc. of Kennesaw, Georgia, a wholly-owned subsidiary of Elsym Consulting, Inc., giving Ticketrac the right to use the intellectual property covered by GTECH’s “Inventory Control System and Method” patent.
GTECH’s patent involves an inventory control process necessary to provide retailers with a quick and easy way to manage the average $83 million a day in U.S. instant-ticket sales. The technology provides retailers with a simple automated solution that tracks the quantity and value of instant tickets sold by shift or by day so that they can quickly reconcile those ticket sales to the store’s cash drawer -- saving them time and controlling shrink. By licensing the intellectual property of its patent, GTECH has enabled Ticketrac to market its product, “Ticketrac,” as a stand-alone retail solution for instant-ticket inventory and management.
“GTECH is completely committed to helping retailers, who are so fundamental to lottery success, manage the work associated with carrying lottery products. This licensing agreement extends the benefits of automated instant-ticket inventory control and management to a larger number of retailers, especially for those who do not have access to the GTECH integrated Balancing Tool solution,” said Connie Laverty O’Connor, Chief Marketing Officer at GTECH.
“Elsym Consulting, through Ticketrac, is pleased to provide this significant improvement in scratch ticket inventory management,” said Len Simonis, CEO and Founder of Elsym. “This product will provide a significant benefit to lotteries, retailers, and the industry as a whole.”
For more information on these valuable new products, please contact Ticketrac’s Len Simonis at (678) 564-5074, or GTECH’s James Breindel at (401) 392-7626.
About GTECH
GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. Lottomatica is one of the world’s largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider – a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by De Agostini, which belongs to a century-old publishing, media, and financial services group. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2007, had more than €1.7 billion in revenues and 5,900 employees in over 45 countries when combined with GTECH.
In 2007, Elsym Consulting, Inc. formed its subsidiary Ticketrac, Inc. to provide a simple solution to the problem of tracking Scratch Ticket inventory in a retail environment. Since 1988, Elsym Consulting, Inc. has been providing software services to audit computer generated transactions and provide software internal controls for the lottery industry. Last year, Elsym Consulting audited over 20 billion transactions for over 20 lottery agencies and organizations worldwide.
CONTACT: Robert K. Vincent, Public Affairs, GTECH Corporation 401-392-7452.
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