The GEO Group Signs Contract for the Housing Of U.S. Marshals Detainees at Aurora Detention Facility in Colorado
The GEO Group (NYSE: GEO) announced today that it has signed a contract with the United States Marshals Service for the housing of up to 320 federal detainees at the company-owned Aurora Detention Facility in Colorado.
The new ten-year contract is effective October 1, 2012 and is expected to generate approximately $8.2 million in incremental annual revenues at full occupancy with profit margins in-line with GEO's company-owned facilities.
George C. Zoley, Chairman and CEO of GEO, said, “We are pleased with the signing of this important contract for the housing of federal detainees at our Aurora Detention Facility. We appreciate the confidence placed in our Company by the U.S. Marshals Service and look forward to building on our long-standing public-private partnership with the agency.”
The GEO Group, Inc. is the world's leading diversified provider of correctional, detention, and residential treatment services to federal, state, and local government agencies around the globe. GEO's worldwide operations include 20,000 employees, 108 correctional, detention and residential treatment facilities, including projects under development, and 75,000 owned and/or managed beds. GEO offers a turnkey approach that includes design, construction, financing, and operations. GEO represents government clients in the United States, Australia, South Africa, and the United Kingdom.
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