GEO Group Announces Continuation of Contract in California

BOCA RATON, Fla. — The Geo Group announced that it has received a letter from the California Department of Corrections and Rehabilitation rescinding the previous notice of termination regarding Geo’s management contract for the 625-bed Golden State Correctional Facility in McFarland, Calif. 

The facility, which was previously scheduled to close on June 30, 2012, will remain in operation under the company’s current contract, which is effective through Dec. 14, 2012. The facility generates approximately $13 million in annualized revenues. Geo will provide an update on its 2012 outlook when it releases earnings for the first quarter 2012.