Lottery board OKs deal

Tuesday, May 13, 2003 | 9:52 a.m.

PROVIDENCE, R.I. -- GTECH Holdings Corp. is one step closer to moving to the capital city and becoming the state's primary lottery supplier.

The Rhode Island Lottery Commission has approved a deal to give the company exclusive rights to operate the state's lottery system for 20 years.

Monday's unanimous vote leaves only one more step -- a vote by the Providence City Council -- before the deal is in place, The Providence Journal reported.

On May 2 Gov. Don Carcieri signed a bill giving GTECH Holdings Corp. exclusive rights to operate the state's lottery system for 20 years.

GTECH had considered moving to Massachusetts before state political leaders struck the deal late last month.

In exchange for exclusive lottery rights and tax incentives, the company will pay $12.5 million, build a new office building in downtown Providence and add manufacturing space at its existing West Greenwich plant.

The deal includes property-tax breaks in Providence for 30 years on a new, $65-million downtown office complex for the international lottery giant.

Lawmakers say the deal could generate $707 million in additional revenue for GTECH over the next 20 years.