Scientific Games Signs Instant Ticket and Cooperative Services Extension with
NEW YORK, Oct. 11, 2013
NEW YORK, Oct. 11, 2013 /PRNewswire/ -- Scientific Games Corporation (Nasdaq:
SGMS) today announced that it has signed a four-year extension to its contract
as the primary supplier of instant games and cooperative services to the
Florida Lottery. The extension, which will continue to provide for instant
game design, marketing services, warehouse management, inventory control and
retail distribution, will begin in October 2014.
"We are delighted to continue our relationship with the Florida Lottery, which
has operated one of the most successful instant game programs in the country
by focusing on managing the entire instant product category," stated A. Lorne
Weil, Chairman and Chief Executive Officer of Scientific Games. "The Florida
Lottery is an industry leader and we look forward to bringing continued
innovation to help the Lottery raise more money for education."
"We are very pleased to extend our relationship with Scientific Games," said
Cynthia O'Connell, Secretary of the Florida Lottery."This partnership has
helped contribute to the incredible growth of the Florida Lottery, including
record sales and record contributions to education in the past two years. We
look forward to maximizing this relationship even further and ensuring
continued responsible growth of our organization."
In fiscal 2013, the Florida Lottery had total lottery sales of over $5
billion, with over $3 billion from instant game lottery sales. Celebrating
its 25^th anniversary this year, the Lottery has contributed more than $25
billion to education in the State.
About Scientific Games
Scientific Games Corporation is a global leader in providing customized,
end-to-end gaming solutions to lottery and gaming organizations worldwide.
Scientific Games' integrated array of products and services includes instant
lottery games, lottery gaming systems, terminals and services, and internet
applications, as well as server-based interactive gaming terminals and
associated gaming control systems. For more information, please visit our
website at www.scientificgames.com.
Cindi Buckwalter, Investor Relations
In this press release, the Company makes "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements describe future expectations, plans, results or
strategies and can often be identified by the use of terminology such as
"may," "will," "estimate," "intend," "continue," "believe," "expect,"
"anticipate," "should," "could," "potential," "opportunity," or similar
terminology. These statements are based upon management's current
expectations, assumptions and estimates and are not guarantees of future
results or performance. Actual results may differ materially from those
contemplated in these statements due to a variety of risks and uncertainties
and other factors, including, among other things: competition; material
adverse changes in economic and industry conditions; technological change;
retention and renewal of existing contracts and entry into new or revised
contracts; availability and adequacy of cash flows to satisfy obligations and
indebtedness or future needs; protection of intellectual property; security
and integrity of software and systems; laws and government regulation,
including those relating to gaming licenses, permits and operations; inability
to identify, complete and integrate future acquisitions; inability to benefit
from, and risks associated with, strategic equity investments and
relationships; failure of our Northstar Illinois joint venture to meet the net
income targets or otherwise to realize the anticipated benefits under its
private management agreement with the Illinois Lottery; failure of our
Northstar New Jersey joint venture to meet the net income targets or other
requirements under its agreement to provide marketing and sales services to
the New Jersey Lottery or otherwise to realize the anticipated benefits under
such agreement (including as a result of a protest); failure to realize the
anticipated benefits related to the award to our consortium of an instant
ticket concession in Greece; the seasonality of our business; failure to
complete the pending acquisition of WMS Industries Inc. ("WMS") on a timely
basis or at all, including due to the inability to obtain the gaming
regulatory approvals required to complete the acquisition; disruption of our
current plans and operations in connection with the WMS acquisition; failure
to achieve the intended benefits of the WMS acquisition, including due to the
inability to realize synergies in the anticipated amounts or within the
contemplated time-frames or cost expectations, or at all; inability to
identify and capitalize on trends and changes in the lottery and gaming
industries, including the potential expansion of regulated gaming via the
internet; inability to enhance and develop successful gaming concepts;
dependence on suppliers and manufacturers; liability for product defects;
fluctuations in foreign currency exchange rates and other factors associated
with international operations; influence of certain stockholders; dependence
on key personnel; failure to perform under our contracts; resolution of
pending or future litigation; labor matters and stock price volatility.
Additional information regarding risks and uncertainties and other factors
that could cause actual results to differ materially from those contemplated
in forward-looking statements is included from time to time in the Company's
filings with the Securities and Exchange Commission ("SEC"), including under
the heading "Risk Factors" in the Company's Annual Report on Form 10-K filed
with the SEC on March 12, 2013 and in its subsequent periodic reports.
Forward-looking statements speak only as of the date they are made and, except
for the Company's ongoing obligations under the U.S. federal securities laws,
the Company undertakes no obligation to publicly update any forward-looking
statements whether as a result of new information, future events or otherwise.
SOURCE Scientific Games Corporation
Press spacebar to pause and continue. Press esc to stop.