Geo Group announces court settlement allowing intake at processing center

Geo Group (GEO) announced that the U.S. District Court, Central District of California has approved a settlement in the case of Roman v. Wolf, which allows for immediate full intake at the GEO-owned, 1,940-bed Adelanto ICE Processing Center in California. The Court had previously issued several injunction orders, including an intake prohibition order issued more than four years ago, limiting the use of the Adelanto Center based on then-prevailing COVID-19 conditions. At full occupancy, the Adelanto Center contract would be expected to generate up to approximately $31M in additional incremental annualized revenues for GEO. ICE and GEO entered into a 15-year contract on December 19, 2019, for the provision of secure residential housing and support services at the Adelanto Center. The current contract option period is effective through December 19, 2029.