
The GEO Group, Inc. (NYSE:GEO) (&#34;GEO&#34; or the &#34;Company&#34;) announced today that the Company has entered into a five-year support services contract with U.S. Immigration and Customs Enforcement

<p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">The GEO Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GEO">GEO</a>)</b> ("GEO" or the "Company") announced today that the Company has entered into a five-year support services contract with U.S. Immigration and Customs Enforcement ("ICE") for the activation of a federal immigration processing center at the GEO-owned, 1,320-bed Rivers Facility (the "Facility") in Winton, North Carolina.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The support services contract is expected to generate approximately $80 million in annual revenues in the first full year of operations. GEO’s support services are expected to include the exclusive use of the Facility by ICE, along with security, maintenance, and food services, as well as access to recreational amenities, medical care, and legal counsel.

</p><p xmlns="http://www.w3.org/1999/xhtml">
George C. Zoley, GEO&#39;s Chairman, Chief Executive Officer and Founder, said, "We expect that our company-owned Rivers Facility in Winton, North Carolina will play an important role in helping meet the need for increased federal immigration processing center bedspace. We are proud of our 40-year public-private partnership with ICE, and we stand ready to continue to assist the federal government in meeting its immigration enforcement priorities."

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About The GEO Group</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
The GEO Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GEO">GEO</a>) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care&#xAE;, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 97 facilities totaling approximately 76,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Use of forward-looking statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
This news release may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO&#39;s filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260728250577r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260728250577/en/" rel="nofollow">https://www.businesswire.com/news/home/20260728250577/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Pablo E. Paez (866) 301 4436
<br xmlns="http://www.w3.org/1999/xhtml"></br>Executive Vice President, Corporate Relations

</p>

The GEO Group Announces Contract for Company-Owned 1,320-Bed Rivers Facility in North Carolina

GEO wins five-year ICE contract at Rivers Facility, $80M/year revenue

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>The GEO Group, Inc. (NYSE:GEO) (&amp;#34;GEO&amp;#34; or the &amp;#34;Company&amp;#34;) announced today that the Company has entered into a five-year support services contract with U.S. Immigration and Customs Enforcement</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>GEO announced a five-year support services contract with ICE for the Rivers Facility in Winton, NC, expected to generate roughly $80 million in annual revenue in the first full year. GEO will provide exclusive use, security, maintenance, food, medical, and legal services. The deal strengthens GEO’s long-standing PPP with ICE and adds meaningful, contract-backed bedspace capacity.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>GEO wins a five-year ICE contract at Rivers Facility in NC.</li><li>First full-year revenue expected about $80 million.</li><li>Rivers Facility capacity: 1,320 beds; GEO-owned asset.</li><li>Backs GEO&#039;s 40-year PPP with ICE and long-term bedspace demand.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>The GEO Group, Inc. (GEO)</strong>: Announces a five-year ICE contract at Rivers Facility; provides revenue visibility and backlog.</li><li><strong>U.S. Immigration and Customs Enforcement (N/A)</strong>: Government agency receiving services; not a traded security; contract expands GEO&#039;s bedspace capacity.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. A sizeable, multi-year government services contract that materially expands GEO&#039;s revenue base and reinforces its government PPP exposure.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Five-year ICE contract at Rivers Facility expands GEO&#039;s revenue visibility.</li><li>First full-year revenue guidance ~ $80 million.</li><li>1,320-bed Rivers Facility boosts federal bedspace capacity.</li><li>Reinforces GEO&#039;s long-standing PPP with ICE and future expansion potential.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Rivers Facility capacity: 1,320 beds in Winton, North Carolina.</li><li>Contract term: five years; exclusive ICE use; services include security, maintenance, food, medical care, and legal counsel.</li><li>Annual revenue: approximately $80 million in the first full year of operations.</li><li>GEO ownership: Rivers Facility is GEO-owned; part of 97 facilities totaling about 76,000 beds.</li><li>Workforce: up to approximately 20,000 employees.</li><li>Public-private partnership duration: 40 years with ICE.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Positive near-term catalyst; enhances revenue visibility and backlog with a multi-year government contract (6–12 months).</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">The GEO Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GEO">GEO</a>)</b> ("GEO" or the "Company") announced today that the Company has entered into a five-year support services contract with U.S. Immigration and Customs Enforcement ("ICE") for the activation of a federal immigration processing center at the GEO-owned, 1,320-bed Rivers Facility (the "Facility") in Winton, North Carolina.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The support services contract is expected to generate approximately $80 million in annual revenues in the first full year of operations. GEO’s support services are expected to include the exclusive use of the Facility by ICE, along with security, maintenance, and food services, as well as access to recreational amenities, medical care, and legal counsel.

</p><p xmlns="http://www.w3.org/1999/xhtml">
George C. Zoley, GEO&#39;s Chairman, Chief Executive Officer and Founder, said, "We expect that our company-owned Rivers Facility in Winton, North Carolina will play an important role in helping meet the need for increased federal immigration processing center bedspace. We are proud of our 40-year public-private partnership with ICE, and we stand ready to continue to assist the federal government in meeting its immigration enforcement priorities."

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About The GEO Group</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
The GEO Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GEO">GEO</a>) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care&#xAE;, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 97 facilities totaling approximately 76,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Use of forward-looking statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
This news release may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO&#39;s filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260728250577r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260728250577/en/" rel="nofollow">https://www.businesswire.com/news/home/20260728250577/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Pablo E. Paez (866) 301 4436
<br xmlns="http://www.w3.org/1999/xhtml"></br>Executive Vice President, Corporate Relations

</p>

GEO announced a five-year support services contract with ICE for the Rivers Facility in Winton, NC, expected to generate roughly $80 million in annual revenue in the first full year. GEO will provide exclusive use, security, maintenance, food, medical, and legal services. The deal strengthens GEO’s long-standing PPP with ICE and adds meaningful, contract-backed bedspace capacity.

News insight

The GEO Group Announces Contract for Company-Owned 1,320-Bed Rivers Facility in North Carolina

AI summary

Sentiment rationale

Key facts

Corporate Developments