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The GEO Group Announces Contract Modification for Company-Owned, 1,328-Bed Karnes ICE Processing Center

1. ICE modifies GEO's Karnes Center contract for mixed population housing. 2. This change may affect revenue and operational dynamics for GEO.

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Why Bullish?

The contract modification may increase occupancy rates and enhance revenue stability for GEO, similar to past expansions in capacity which had positive revenue impacts.

How important is it?

The successful transition to mixed populations may lead to increased revenue, making this a crucial development for investors.

Why Short Term?

Immediate changes will influence short-term revenue but may stabilize in the long-term depending on market conditions and immigration policies.

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ICECXWCORE
BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today that U.S. Immigration and Customs Enforcement (“ICE”) has entered into a contract modification of the current intergovernmental service agreement (“IGSA”) for the GEO-owned, 1,328-bed Karnes ICE Processing Center (the “Center) in Karnes City, Texas to transition the Center from housing adult males only to housing mixed populations. GEO provides support services for ICE at the Center under.

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