The chance to win a big jackpot while soaking up all the Caribbean has to offer may sound like a fantasy, but it is possible with the August 2009 launch of a Super Lotto game with a guaranteed minimum payout of US $2 million.

When a coalition of lottery operators wanted to offer a game to attract almost 13 million players in eight Caribbean countries they turned to GTECH, a leading gaming technology and services company already operating in the region. Players select five of 35 numbers and a Super Ball - drawn from a separate pool of 35 numbers. A player wins by correctly selecting all five drawn numbers and the Super Ball. Ticket sales benefit the country in which they were purchased, with up to 25 percent going to governments for good causes like education and social programs for the underprivileged in the Dominican Republic, Jamaica, Barbados, Anguilla, Antigua and Barbuda, Saint Kitts and Nevis, Saint Maarten and Bermuda.

Matt Hughes from GTECH at the company's corporate headquarters in Providence, Rhode Island, USA.

For Super Lotto, GTECH provides the point of sale ticket terminals in retail locations throughout the Caribbean. The terminals are electronically linked with centralized processing systems that manage the transactions between the retailer where tickets are sold and the lottery authority, ensuring both the security and integrity of the game. The operators have online access to real-time data on ticket sales by retailer and location through the sophisticated platform.

GTECH has had a significant presence in Latin America for more than two decades, and is knowledgeable about the political and economic environment. They also provide the technology for multi-jurisdictional lotteries in the United States and Europe, but the requirement to deal in multiple currencies made this recent venture more complex.

"We needed a solution that would provide the security and trust our operators required to be confident in depositing funds and paying out the prize money," says Matt Hughes, Treasurer, GTECH Corporation. "We have worked with Scotiabank for many years; they were a stable partner for us in volatile times, and we know their cash management services to be very good. We looked to them, as a third party, for a solution that would enable us to manage the prize money as efficiently as possible."

As a leading bank in the Caribbean, Scotiabank was able to leverage its strong banking network to set up a banking arrangement for GTECH and the lottery operators. Escrow trust accounts were set up in the Bahamas by Scotia Trust to manage jackpot funds through deposits in local currencies on a weekly basis. GTECH and the operators all receive monthly statements and access Scotiabank's Caribbean online banking platform to monitor their cash position and view their account balances and transactions at any time, but they cannot initiate any transactions. Scotiabank also takes care of purchasing U.S. dollars on a continual basis for the jackpot payout, says Angie Ellis, Senior Manager, International Treasury Services Sales, Global Transaction Banking for Scotiabank.

"There is a broad understanding of GTECH's unique business needs across the Scotiabank Group," says Mike Bradley, Managing Director, with Scotia Capital, the Bank's wholesale investment arm. "We've had a relationship with GTECH since 1994 and have provided letters of credit, foreign exchange, interest-rate hedging services as well as all banking services in Canada." In addition, Scotia Capital is a mandated lead arranger in GTECH's syndicated bank credit facility.

"Escrow account management is just one way GTECH has taken advantage of their very broad relationship with Scotiabank," concludes Mike Bradley. "Our strong presence in more than 50 countries throughout the world, and the fact that accounts can be opened in additional countries as the lottery expands, positions us well to continue to serve GTECH's future needs."

For GTECH and lottery operators, the efficient and secure management and disbursement of lottery funds through escrow trust accounts is the winning ticket.