GEO Group Receives Favorable Settlement In Roman V. Wolf Case

(RTTNews) - The GEO Group, Inc. (GEO), Tuesday announced settlement of Roman v. Wolf case, where the U.S. District Court, Central District of California has approved immediate full intake at the GEO-owned, 1,940-bed Adelanto ICE Processing Center in California.

Notably, the company along with ICE has entered into a contract in 2019 for the provision of secure residential housing and support services at the Adelanto Center.

The full intake of the Adelanto Center contract is expected to generate upto approximately $31 million in additional incremental annualized revenues for the company.

In the pre-market hours, GEO is trading at $27.42, up 1.71 percent on the New York Stock Exchange.