The GEO Group (NYSE:GEO) announced that it has signed a contract with U.S. Immigration and Customs Enforcement ("ICE") for the continued management of the company-owned Aurora ICE Processing Center (the "Center") located in Aurora, Colorado. The new contract will have a term of ten years, inclusive of renewal option periods. Under the terms of the new agreement, the contract capacity at the Center will be increased from 432 to 525 beds, and the transportation responsibilities will be expanded. The new contract is expected to generate approximately $23.0 million in annualized revenues at full occupancy, including the new transportation responsibilities.

The GEO Group, Inc. provides government-outsourced services specializing in the management of correctional, detention, mental health, residential treatment, and re-entry facilities in the United States, Australia, South Africa, the United Kingdom, and Canada.

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