<PAGE>   1
      As filed with the Securities and Exchange Commission on June 26, 1998

                              Registration No. 333-

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM S-8

                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                           GTECH HOLDINGS CORPORATION
             (Exact name of registrant as specified in its charter)

        Delaware                                              05-0450121
(State of incorporation)                                    (IRS Employer
                                                          Identification No.)
           55 Technology Way
     West Greenwich, Rhode Island                                02817
(Address of Principal Executive Offices)                       (Zip Code)


                            GTECH HOLDING CORPORATION
                             1997 STOCK OPTION PLAN
                                1998 NON-EMPLOYEE
                                DIRECTORS' STOCK
                                  ELECTION PLAN
                            (Full title of the plans)



                              Cynthia A. Nebergall
                                 General Counsel
                           GTECH Holdings Corporation
                                55 Technology Way
                            West Greenwich, RI 02817
                                 (401) 392-1000
            (Name, address and telephone number of agent for service)
                              --------------------

                                    Copy to:

                           John C. Bennett, Jr., Esq.
                           DRINKER BIDDLE & REATH LLP
                       Philadelphia National Bank Building
                              1345 Chestnut Street
                           Philadelphia, PA 19107-3496


<PAGE>   2




                         CALCULATION OF REGISTRATION FEE


<TABLE>
<CAPTION>

     Title of           Amount of Shares          Proposed Maximum           Proposed Maximum      Amount of Registration
    Securities        to be Registered(1)        Offering Price Per         Aggregate Offering             Fee(2)
 to be Registered                                     Share(2)                   Price(2)
<S>                   <C>                        <C>                        <C>                    <C>                
Common Stock, par          2,850,000                   $33.52                   $95,531,127               $28,320
value $0.01  per             shares
share
</TABLE>


(1)      Represents 2,800,000 shares under the 1997 Stock Option Plan and 50,000
         shares under the 1998 Non-Employee Directors' Stock Election Plan.
         Pursuant to Rule 416(a) under the Securities Act of 1933, this
         Registration Statement also covers an indeterminate amount of
         additional shares as may become issuable under the 1997 Stock Option
         Plan and 1998 Non-Employee Directors' Stock Election Plan in connection
         with share splits, share dividends or similar transactions.

(2)      Estimated solely for the purpose of calculating the registration fee.
         In accordance with Rule 457(h) promulgated under the Securities Act of
         1993, as amended, as to shares subject to outstanding but unexercised
         options, the price and fee are computed based upon the price at which
         such options may be exercised. As to the remaining shares, the price
         and fee are computed based on $33.47 per share, the average of the 
         high and low prices of a share of Common Stock of the Registrant on 
         June 23, 1998, as reported in the New York Stock Exchange consolidated 
         reporting system.



<PAGE>   3



                                     PART I
              INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
       (Not required to be filed as part of this Registration Statement)



                                     PART II
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT



ITEM 3.   INCORPORATION OF DOCUMENTS BY REFERENCE.

         GTECH Holdings Corporation (the "Company" or "Registrant") hereby
incorporates into this Registration Statement by reference:

         (a) The Company's Annual Report on Form 10-K for the fiscal year ended
February 28, 1998;

         (b) The description of the Company's Common Stock contained in the
Company's amended Registration Statement on Form 8-A12B/A filed in June, 1998
under the Securities Exchange Act of 1934 (the "Exchange Act"), including any
amendment or report filed for the purpose of updating such description; and

         (c) All other reports filed pursuant to Sections 13(a) or 15(d) of the
Exchange Act since May 29, 1998.

         All reports and other documents filed by the Company pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of
this Registration Statement and prior to the filing of a post-effective
amendment to this Registration Statement which indicates that all of the
securities offered hereby have been sold or which deregisters all such
securities then remaining unsold shall be deemed to be incorporated by reference
in this Registrations Statement and to be a part hereof from the date of the
filing of each such report or other document.


                                      -1-

<PAGE>   4


ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS.

         Section 102(b)(7) of the Delaware General Corporation Law the ("DGCL")
enables a corporation in its original certificate of incorporation or an
amendment thereto to eliminate or limit the personal liability of a director to
the company or its stockholders for monetary damages for a breach of the
director's fiduciary duty, except (i) for any breach of the director's duty of
loyalty to the corporation or its stockholders, (ii) for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of
law, (iii) pursuant to Section 174 of the DGCL (providing for liability of
directors for unlawful payment of dividends or unlawful stock purchases or
redemptions) or (iv) for any transaction from which a director derived an
improper personal benefit. The Company's Certificate of Incorporation, as
amended, contains such a limitation on the personal liability of directors.

         Section 145 of the DGCL provides that a corporation may indemnify any
persons, including officers and directors, who were or are, or are threatened to
be made, parties to any threatened, pending or completed legal action, suit or
proceeding, whether civil, criminal, administrative or investigative (other than
an action by or in the right of such corporation), by reason of the fact that
such person was an officer, director, employee or agent of such corporation or
is or was serving at the request of such corporation as an officer, director,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise. The indemnity may include expenses (including attorneys'
fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by such person in connection with such action, suit or proceedings,
provided such person acted in good faith in a manner he reasonably believed to
be in or not opposed to the corporation's best interests and, for criminal
proceedings, had no reasonable cause to believe that his conduct was unlawful. A
Delaware corporation may indemnify officers and directors in an action by or in
the right of the corporation under the same conditions, except that no
indemnification is permitted without judicial approval if the officer or
director is adjudged to be liable to the corporation. Where an officer or
director is successful on the merits or otherwise in the defense of any action
referred to above, the corporation must indemnify him against the expenses that
such officer or director actually and reasonably incurred.

         The Company's Amended and Restated Bylaws provide that the Company
shall indemnify, to the full extent permitted under Delaware law, any person who
was or is a party or is threatened to be made a party to any threatened, pending
or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative, by reason of the fact that he is or was a director or officer
of the Company or while a director or officer of the Company is or was serving
at the request of the Company as a director or officer of another corporation,
partnership, joint venture, trust employee benefit plan or other enterprise.

         The directors and officers of the Company also are parties to
indemnification agreements with the Company providing for indemnification for
liabilities (including legal fees and other expenses) incurred in any legal
proceedings in connection with their present or past status as directors or
officers of the Company. The Company maintains directors' and officers'
liability insurance.

         The Company, the selling shareholders and the underwriters have agreed
to indemnify each other against certain liabilities arising in connection with
the Company's initial public offering of Common Stock in July 1992 and its
secondary offering of Common Stock in December 1992, November 1993 and June
1996. The selling shareholders include officers and certain directors of the
Company, and the underwriters include Donaldson Lufkin & Jenrette Securities
Corporation ("DLJSC"), which was a major stockholder in the Company. The Company
also has agreed to indemnify DLJ Capital Corporation (an affiliate of DLJSC) and
its affiliates against certain liabilities arising in connection with the
February 1990 acquisition of GTECH Corporation by the Company and various
related financings and refinancings.

         The Company's 1997 Stock Option Plan and the 1998 Non-Employee
Directors' Stock Election Plan (the "Plans") provide that each person who is or
shall have been a director of the Company shall be indemnified 


                                      -2-

<PAGE>   5

and held harmless by the Company, to the fullest extent permissible by Delaware
Law, against and from any loss, cost, liability, or expense that may be imposed
upon or reasonably incurred by such person in connection with or resulting from
any action taken or failure to act under the Plans.

ITEM 8.   EXHIBITS.

         Exhibit 4.1       GTECH Holdings Corporation 1997 Stock Option Plan
                           (incorporated by reference to the Appendix to the
                           Company's Proxy Statement relating to its July 14,
                           1997 Annual Meeting of Shareholders).

         Exhibit 4.2       GTECH Holdings Corporation 1998 Non-Employee
                           Directors' Stock Election Plan

         Exhibit 5         Opinion of Drinker Biddle & Reath LLP, counsel to the
                           Registrant.

         Exhibit 23.1      Consent of Ernst & Young LLP (Independent Auditors).

         Exhibit 23.2      Consent of Price Waterhouse (Independent 
                           Accountants).

         Exhibit 23.3      Consent of Drinker Biddle & Reath LLP (included in
                           Exhibit 5).

         Exhibit 24        Powers of Attorney (see Signature Pages).


ITEM 9.  UNDERTAKINGS.


         The undersigned Registrant hereby undertakes:


         (1) To file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement:

                  (i) To include any prospectus required by section 10(a)(3) of
the Securities Act of 1933 (the "Securities Act");

                  (ii) To reflect in the prospectus any facts or events arising
after the effective date of the Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the Registration
Statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in
the aggregate, the changes in value and price represent no more than a 20%
change in the maximum aggregate offering price set forth in the "Calculation of
Registration Fee" Table in the effective Registration Statement;

                  (iii) To include any material information with respect to the
plan of distribution not previously disclosed in the Registration Statement or
any material change to such information in the Registration Statement.

                  Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of
this section do not apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic 


                                      -3-

<PAGE>   6

reports filed with or furnished to the Commission by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the Registration Statement.

         (2) That, for purposes of determining liability under the Securities
Act, each such post-effective amendment shall be deemed to be a new Registration
Statement relating to the securities offered therein, and the offering of the
securities at that time shall be deemed to be the initial bona fide offering
thereof.

         (3) To remove from the registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.

         (4) That, for purposes of determining any liability under the
Securities Act, each filing of the Registrant's Annual Report pursuant to
Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where
applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by
reference in the Registration Statement shall be deemed a new Registration
Statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.

         (5) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers or controlling persons of
the Registrant pursuant to the foregoing provisions or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.


                                      -4-

<PAGE>   7



                        SIGNATURES AND POWERS OF ATTORNEY


         Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, hereunto duly
authorized in the Town of West Greenwich, State of Rhode Island on June 23,
1998.


                                            GTECH HOLDINGS CORPORATION


                                            By:/s/ William Y. O'Connor
                                               ---------------------------------
                                                 William Y. O'Connor
                                                 Chairman, President and
                                                 Chief Executive Officer



         KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints William Y. O'Connor, Steven P. Nowick and
Thomas J. Sauser, or any one of them acting alone, his true and lawful
attorney-in-fact and agent, with full power of substitution and revocation, for
him and in his name, place and stead, in any and all capabilities, to sign any
and all amendments (including post-effective amendments) to the Registration
Statement referred to above and to file the same with all exhibits thereto and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, full power and
authority to do and perform each and every act and thing requisite and necessary
to be done as fully to all intents and purposes as he or she might or could do
in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or his or their substitute or substitutes, may lawfully do or cause to
be done by virtue thereof.

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

<TABLE>
<CAPTION>

                  Signatures                                    Title                                  Date

<S>                                    <C>                                                         <C> 
/s/ William Y. O'Connor                Chairman of the Board, President and Chief                  May 19, 1998
----------------------------------     Executive Officer
William Y. O'Connor                   


/s/ Thomas J. Sauser                   Senior Vice President, Chief Financial                    June 23, 1998
----------------------------------     Officer and Treasurer
Thomas J. Sauser                       


s/ Robert J. Plourde                   Vice President and Corporate Controller                   June 23, 1998
----------------------------------     (Principal Accounting Officer)
Robert J. Plourde                      
</TABLE>


                                      -5-

<PAGE>   8



<TABLE>
<CAPTION>


              Signatures                                    Title                                      Date
<S>                                                       <C>                                      <C> 

/s/ Burnett W. Donoho                                     Director                                 May 19, 1998
-------------------------------------------
Burnett W. Donoho

/s/ Lt. Gen. (Ret.) Emmett Paige, Jr.                     Director                                 May 19, 1998
-------------------------------------------
Lt. Gen. (Ret.) Emmett Paige, Jr., (USA)
                 

/s/ The Rt. Hon. Lord Moore                               Director                                 May 19, 1998
-------------------------------------------
The Rt. Hon. Lord Moore
 of Lower Marsh, P.C.

/s/ Anthony Ruys                                          Director                                 May 19, 1998
-------------------------------------------
Anthony Ruys

</TABLE>


                                      -6-

<PAGE>   9


                          INDEX TO EXHIBITS FILED WITH
                           THIS REGISTRATION STATEMENT

Exhibit

  4.2    1998 Non-Employee Directors' Stock Election Plan

  5      Opinion of Drinker Biddle & Reath LLP.

  23.1   Consent of Ernst & Young LLP.

  23.2   Consent of Price Waterhouse.

  24     Powers of Attorney (see Signature Pages).


                                      -7-
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{"company-data": {"conformed-name": "GTECH HOLDINGS CORP", "cik": "0000857323", "assigned-sic": "7370", "irs-number": "050450121", "state-of-incorporation": "DE", "fiscal-year-end": "0223"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-57781", "film-number": "98654730"}, "business-address": {"street1": "55 TECNOLOGY WAY", "city": "WEST GREENWICH", "state": "RI", "zip": "02817", "phone": "4013921000"}, "mail-address": {"street1": "55 TECHNOLOGY WAY", "street2": "LEGAL DEPARTMENT", "city": "WEST GREENWICH", "state": "RI", "zip": "02817"}}
1
      As filed with the Securities and Exchange Commission on June 26, 1998

                              Registration No. 333-

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM S-8

                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                           GTECH HOLDINGS CORPORATION
             (Exact name of registrant as specified in its charter)

        Delaware                                              05-0450121
(State of incorporation)                                    (IRS Employer
                                                          Identification No.)
           55 Technology Way
     West Greenwich, Rhode Island                                02817
(Address of Principal Executive Offices)                       (Zip Code)

                            GTECH HOLDING CORPORATION
                             1997 STOCK OPTION PLAN
                                1998 NON-EMPLOYEE
                                DIRECTORS' STOCK
                                  ELECTION PLAN
                            (Full title of the plans)

                              Cynthia A. Nebergall
                                 General Counsel
                           GTECH Holdings Corporation
                                55 Technology Way
                            West Greenwich, RI 02817
                                 (401) 392-1000
            (Name, address and telephone number of agent for service)
                              --------------------

                                    Copy to:

                           John C. Bennett, Jr., Esq.
                           DRINKER BIDDLE & REATH LLP
                       Philadelphia National Bank Building
                              1345 Chestnut Street
                           Philadelphia, PA 19107-3496
2

                         CALCULATION OF REGISTRATION FEE
Title of           Amount of Shares          Proposed Maximum           Proposed Maximum      Amount of Registration
    Securities        to be Registered(1)        Offering Price Per         Aggregate Offering             Fee(2)
 to be Registered                                     Share(2)                   Price(2)
Common Stock, par          2,850,000                   $33.52                   $95,531,127               $28,320
value $0.01  per             shares
share
(1)      Represents 2,800,000 shares under the 1997 Stock Option Plan and 50,000
         shares under the 1998 Non-Employee Directors' Stock Election Plan.
         Pursuant to Rule 416(a) under the Securities Act of 1933, this
         Registration Statement also covers an indeterminate amount of
         additional shares as may become issuable under the 1997 Stock Option
         Plan and 1998 Non-Employee Directors' Stock Election Plan in connection
         with share splits, share dividends or similar transactions.

(2)      Estimated solely for the purpose of calculating the registration fee.
         In accordance with Rule 457(h) promulgated under the Securities Act of
         1993, as amended, as to shares subject to outstanding but unexercised
         options, the price and fee are computed based upon the price at which
         such options may be exercised. As to the remaining shares, the price
         and fee are computed based on $33.47 per share, the average of the 
         high and low prices of a share of Common Stock of the Registrant on 
         June 23, 1998, as reported in the New York Stock Exchange consolidated 
         reporting system.
3

                                     PART I
              INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
       (Not required to be filed as part of this Registration Statement)

                                     PART II
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.   INCORPORATION OF DOCUMENTS BY REFERENCE.

         GTECH Holdings Corporation (the "Company" or "Registrant") hereby
incorporates into this Registration Statement by reference:

         (a) The Company's Annual Report on Form 10-K for the fiscal year ended
February 28, 1998;

         (b) The description of the Company's Common Stock contained in the
Company's amended Registration Statement on Form 8-A12B/A filed in June, 1998
under the Securities Exchange Act of 1934 (the "Exchange Act"), including any
amendment or report filed for the purpose of updating such description; and

         (c) All other reports filed pursuant to Sections 13(a) or 15(d) of the
Exchange Act since May 29, 1998.

         All reports and other documents filed by the Company pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of
this Registration Statement and prior to the filing of a post-effective
amendment to this Registration Statement which indicates that all of the
securities offered hereby have been sold or which deregisters all such
securities then remaining unsold shall be deemed to be incorporated by reference
in this Registrations Statement and to be a part hereof from the date of the
filing of each such report or other document.

                                      -1-
4

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS.

         Section 102(b)(7) of the Delaware General Corporation Law the ("DGCL")
enables a corporation in its original certificate of incorporation or an
amendment thereto to eliminate or limit the personal liability of a director to
the company or its stockholders for monetary damages for a breach of the
director's fiduciary duty, except (i) for any breach of the director's duty of
loyalty to the corporation or its stockholders, (ii) for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of
law, (iii) pursuant to Section 174 of the DGCL (providing for liability of
directors for unlawful payment of dividends or unlawful stock purchases or
redemptions) or (iv) for any transaction from which a director derived an
improper personal benefit. The Company's Certificate of Incorporation, as
amended, contains such a limitation on the personal liability of directors.

         Section 145 of the DGCL provides that a corporation may indemnify any
persons, including officers and directors, who were or are, or are threatened to
be made, parties to any threatened, pending or completed legal action, suit or
proceeding, whether civil, criminal, administrative or investigative (other than
an action by or in the right of such corporation), by reason of the fact that
such person was an officer, director, employee or agent of such corporation or
is or was serving at the request of such corporation as an officer, director,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise. The indemnity may include expenses (including attorneys'
fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by such person in connection with such action, suit or proceedings,
provided such person acted in good faith in a manner he reasonably believed to
be in or not opposed to the corporation's best interests and, for criminal
proceedings, had no reasonable cause to believe that his conduct was unlawful. A
Delaware corporation may indemnify officers and directors in an action by or in
the right of the corporation under the same conditions, except that no
indemnification is permitted without judicial approval if the officer or
director is adjudged to be liable to the corporation. Where an officer or
director is successful on the merits or otherwise in the defense of any action
referred to above, the corporation must indemnify him against the expenses that
such officer or director actually and reasonably incurred.

         The Company's Amended and Restated Bylaws provide that the Company
shall indemnify, to the full extent permitted under Delaware law, any person who
was or is a party or is threatened to be made a party to any threatened, pending
or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative, by reason of the fact that he is or was a director or officer
of the Company or while a director or officer of the Company is or was serving
at the request of the Company as a director or officer of another corporation,
partnership, joint venture, trust employee benefit plan or other enterprise.

         The directors and officers of the Company also are parties to
indemnification agreements with the Company providing for indemnification for
liabilities (including legal fees and other expenses) incurred in any legal
proceedings in connection with their present or past status as directors or
officers of the Company. The Company maintains directors' and officers'
liability insurance.

         The Company, the selling shareholders and the underwriters have agreed
to indemnify each other against certain liabilities arising in connection with
the Company's initial public offering of Common Stock in July 1992 and its
secondary offering of Common Stock in December 1992, November 1993 and June
1996. The selling shareholders include officers and certain directors of the
Company, and the underwriters include Donaldson Lufkin & Jenrette Securities
Corporation ("DLJSC"), which was a major stockholder in the Company. The Company
also has agreed to indemnify DLJ Capital Corporation (an affiliate of DLJSC) and
its affiliates against certain liabilities arising in connection with the
February 1990 acquisition of GTECH Corporation by the Company and various
related financings and refinancings.

         The Company's 1997 Stock Option Plan and the 1998 Non-Employee
Directors' Stock Election Plan (the "Plans") provide that each person who is or
shall have been a director of the Company shall be indemnified 

                                      -2-
5

and held harmless by the Company, to the fullest extent permissible by Delaware
Law, against and from any loss, cost, liability, or expense that may be imposed
upon or reasonably incurred by such person in connection with or resulting from
any action taken or failure to act under the Plans.

ITEM 8.   EXHIBITS.

         Exhibit 4.1       GTECH Holdings Corporation 1997 Stock Option Plan
                           (incorporated by reference to the Appendix to the
                           Company's Proxy Statement relating to its July 14,
                           1997 Annual Meeting of Shareholders).

         Exhibit 4.2       GTECH Holdings Corporation 1998 Non-Employee
                           Directors' Stock Election Plan

         Exhibit 5         Opinion of Drinker Biddle & Reath LLP, counsel to the
                           Registrant.

         Exhibit 23.1      Consent of Ernst & Young LLP (Independent Auditors).

         Exhibit 23.2      Consent of Price Waterhouse (Independent 
                           Accountants).

         Exhibit 23.3      Consent of Drinker Biddle & Reath LLP (included in
                           Exhibit 5).

         Exhibit 24        Powers of Attorney (see Signature Pages).

ITEM 9.  UNDERTAKINGS.

         The undersigned Registrant hereby undertakes:

         (1) To file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement:

                  (i) To include any prospectus required by section 10(a)(3) of
the Securities Act of 1933 (the "Securities Act");

                  (ii) To reflect in the prospectus any facts or events arising
after the effective date of the Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the Registration
Statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in
the aggregate, the changes in value and price represent no more than a 20%
change in the maximum aggregate offering price set forth in the "Calculation of
Registration Fee" Table in the effective Registration Statement;

                  (iii) To include any material information with respect to the
plan of distribution not previously disclosed in the Registration Statement or
any material change to such information in the Registration Statement.

                  Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of
this section do not apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic 

                                      -3-
6

reports filed with or furnished to the Commission by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the Registration Statement.

         (2) That, for purposes of determining liability under the Securities
Act, each such post-effective amendment shall be deemed to be a new Registration
Statement relating to the securities offered therein, and the offering of the
securities at that time shall be deemed to be the initial bona fide offering
thereof.

         (3) To remove from the registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.

         (4) That, for purposes of determining any liability under the
Securities Act, each filing of the Registrant's Annual Report pursuant to
Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where
applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by
reference in the Registration Statement shall be deemed a new Registration
Statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.

         (5) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers or controlling persons of
the Registrant pursuant to the foregoing provisions or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.

                                      -4-
7

                        SIGNATURES AND POWERS OF ATTORNEY

         Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, hereunto duly
authorized in the Town of West Greenwich, State of Rhode Island on June 23,
1998.

                                            GTECH HOLDINGS CORPORATION

                                            By:/s/ William Y. O'Connor
                                               ---------------------------------
                                                 William Y. O'Connor
                                                 Chairman, President and
                                                 Chief Executive Officer

         KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints William Y. O'Connor, Steven P. Nowick and
Thomas J. Sauser, or any one of them acting alone, his true and lawful
attorney-in-fact and agent, with full power of substitution and revocation, for
him and in his name, place and stead, in any and all capabilities, to sign any
and all amendments (including post-effective amendments) to the Registration
Statement referred to above and to file the same with all exhibits thereto and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, full power and
authority to do and perform each and every act and thing requisite and necessary
to be done as fully to all intents and purposes as he or she might or could do
in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or his or their substitute or substitutes, may lawfully do or cause to
be done by virtue thereof.

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signatures                                    Title                                  Date
/s/ William Y. O'Connor                Chairman of the Board, President and Chief                  May 19, 1998
----------------------------------     Executive Officer
William Y. O'Connor                   

/s/ Thomas J. Sauser                   Senior Vice President, Chief Financial                    June 23, 1998
----------------------------------     Officer and Treasurer
Thomas J. Sauser                       

s/ Robert J. Plourde                   Vice President and Corporate Controller                   June 23, 1998
----------------------------------     (Principal Accounting Officer)
Robert J. Plourde
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Signatures                                    Title                                      Date
/s/ Burnett W. Donoho                                     Director                                 May 19, 1998
-------------------------------------------
Burnett W. Donoho

/s/ Lt. Gen. (Ret.) Emmett Paige, Jr.                     Director                                 May 19, 1998
-------------------------------------------
Lt. Gen. (Ret.) Emmett Paige, Jr., (USA)
                 

/s/ The Rt. Hon. Lord Moore                               Director                                 May 19, 1998
-------------------------------------------
The Rt. Hon. Lord Moore
 of Lower Marsh, P.C.

/s/ Anthony Ruys                                          Director                                 May 19, 1998
-------------------------------------------
Anthony Ruys
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                          INDEX TO EXHIBITS FILED WITH
                           THIS REGISTRATION STATEMENT

Exhibit

  4.2    1998 Non-Employee Directors' Stock Election Plan

  5      Opinion of Drinker Biddle & Reath LLP.

  23.1   Consent of Ernst & Young LLP.

  23.2   Consent of Price Waterhouse.

  24     Powers of Attorney (see Signature Pages).

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