The Michigan Lottery has extended by two years its contract with the GTECH Corporation, which provides products and services to support the Lottery’s draw games, such as Powerball, Mega Millions, Classic Lotto 47, and Club Keno.

The Lottery's current six-year contract with GTECH was scheduled to expire on January 19, 2015 and now will run through January 19, 2017. The contract extension took effect this week after it was approved by the State Administrative Board.

Jeff Holyfield, the Lottery director of public relations, says the contract extension provides value to the Lottery and the state by extending for two years the competitive pricing structure put in place in 2008 for these popular products and services.

Under the terms of the contract, the bulk of GTECH’s compensation is based on a percentage of sales. The contract extension has an estimated annual value of $53.3 million.

GTECH has provided products and services for the Michigan Lottery since 1988.