Private prison operator Geo Group Inc. said Monday it signed a contract to keep managing a Mississippi prison that is expected to generate about $21.7 million in annual revenue.

The Boca Raton, Fla., company said it will continue to manage the 1,500-bed East Mississippi Correctional Facility in Meridian, Miss., through March 15, 2015. Geo Group has managed the prison since 1999.

Geo Group manages or owns 63 correctional and residential treatment facilities worldwide with a capacity of about 61,500 beds.