International Game Technology (IGT) and the Virginia Lottery are continuing their successful collaboration with a three-year contract extension. This agreement, solidifying IGT as the platform provider until October 2033, marks a continuation of their 23-year partnership. Tony R. Russell, the lottery’s interim director, highlighted the significant role this partnership has played in keeping the Virginia Lottery at the forefront and contributing millions to the state’s education system. The proposed updates by IGT are expected to be implemented starting October 2025.
Upcoming Enhancements: Software, Terminals, and Progressive Jackpot
IGT’s new deal promises substantial upgrades for the Virginia Lottery. A key feature includes replacing 5,500 lottery terminals with IGT’s advanced Retailer Pro S2 machines. This upgrade will enable simultaneous updates across multiple machines, a significant improvement over individual updates.
This announcement marks the most significant machine upgrade since 2016, when IGT introduced the Altura Flex terminals to the Virginia Lottery.
Additionally, the lottery will debut a progressive jackpot in its Print ‘n Play games, a feature commonly seen in casinos. This jackpot, growing incrementally with each non-winning play across multiple machines, is designed to attract players with the possibility of substantial wins.
Completing the contract’s scope, IGT will also overhaul the lottery’s central software system. Jay Gendron, IGT’s Chief Operating Officer for Global Lottery, emphasized the enhanced flexibility and back-end management capabilities this upgrade will bring, along with the new player experiences offered by the progressive jackpot.
Impact of IGT’s Contract Extension on Virginia Lottery Sales
The integration of new software and machines is expected to streamline lottery operations, enhancing efficiency. The introduction of a progressive jackpot is anticipated to attract more customers and retain current ones.
These improvements are projected to propel Virginia Lottery’s revenue to unprecedented heights. After breaking its fiscal-year sales record in 2023 with over $4 billion, the enhancements planned for 2025 could potentially elevate sales to around $5.5 billion. Russell expressed confidence in IGT’s ability to modernize lottery offerings, supporting the mission to generate funds for Virginia’s K-12 public education.
The Future of Lottery Technology and Innovation
This contract extension with IGT signifies a step forward in the evolution of lottery technology. By incorporating cutting-edge terminals and innovative jackpot systems, the Virginia Lottery is not only enhancing its operational efficiency but also redefining the player experience. This advancement reflects a broader trend in the lottery industry towards embracing technology to drive growth and public funding objectives.
The extended partnership between IGT and the Virginia Lottery represents a significant stride in leveraging technology to enhance lottery operations and player engagement. These upcoming changes, poised to set new revenue records, underscore the evolving landscape of the lottery industry and its pivotal role in supporting public education.