GTECH Corporation, a wholly-owned subsidiary of Lottomatica S.p.A. (Pink Sheets: LTTOY), announced that Michael K. Prescott has been promoted to Senior Vice President, General Counsel, and Corporate Secretary of GTECH Corporation. Reporting to GTECH President and Chief Executive Officer Jaymin B. Patel, Prescott is responsible for managing and overseeing all legal matters for the Company, including legal strategy, legal compliance, litigation, regulatory matters, as well as global security.
"We are very pleased to add such a talented and experienced executive to our senior management team. Michael has a thorough understanding of GTECH and the gaming industry, having served the Company as Deputy General Counsel for more than six years, and for several years prior to joining GTECH, as an outside legal advisor," said Mr. Patel. "Michael's extensive skills as a seasoned legal advisor on corporate transactions, along with his specialization in corporate litigation and regulatory matters, give him the breadth of experience needed to take on the additional challenges and responsibilities of this new role."
Prescott most recently served as GTECH's Vice President and Deputy General Counsel, a position he has held since joining the Company in 2001. Prior to joining GTECH, Prescott was a corporate attorney at Edwards Angell Palmer & Dodge LLP. He earned his Bachelor of Arts degree in Political Science and History from Northwestern University, with a Juris Doctor from Emory University School of Law. Prescott, 41, resides in Rhode Island with his wife, Robin, and their two children, Max and Sophia.
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 2006, had more than euro 1.7 billion in revenues and 5,900 employees in over 45 countries when combined with GTECH.
