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Stock Market & Financial Investment News

News Breaks
April 30, 2014
08:36 EDTGEOGeo Group announces 640-bed expansion of Adelanto detention facility in CA
The GEO Group announced a 640-bed expansion to the company-owned, 1,300-bed Adelanto Detention Facility in California under an amendment to the existing contract with the City of Adelanto. GEO will finance, develop, and manage the $45M expansion, which will increase the Facility’s total capacity to 1,940 beds and is expected to generate approximately $21M in additional annualized revenues. GEO expects to complete the 640-bed expansion and begin intake by July 2015. The City of Adelanto has an agreement to provide detention and transportation services for U.S. Immigration and Customs Enforcement.
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May 21, 2015
08:37 EDTGEOGeo Group reports contract from Washington Department of Corrections
GEO Group announced the signing of a contract with the Washington Department of Corrections for the out-of-state housing of up to 1,000 inmates at the company-owned North Lake Correctional Facility in Baldwin, Michigan. The contract will have a term of five years inclusive of renewal option periods. Under the contract, the Facility is expected to begin the intake process in the fourth quarter of 2015 with a gradual ramp over several months. At full occupancy, the contract would generate approximately $24M in annualized revenues.
May 20, 2015
08:31 EDTGEOGeo Group announces contract with Vermond Department of Corrections
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