NEW YORK, Dec. 3, 2013 /PRNewswire/ -- Scientific Games
Corporation (Nasdaq: SGMS) (the "Company") today announced that it
has signed a contract with the California State Lottery to be the
primary provider of instant games and associated support services,
including account management, instant game design, product and
player research, game planning, and integrated marketing
programs. The six-year contract, which begins December 1, 2013 was awarded to the Company
following a competitive procurement process and includes options
for the California Lottery to extend the contract for up to six
additional years. Revenue to Scientific Games will continue to be
based on a percentage-of-sales basis.
"We are pleased to continue our relationship with Scientific
Games. Their winning proposal was the only bid to receive a
'significantly exceeds' rating and we know they are capable of
providing the best offering to the California Lottery in terms of
experience, capability and game innovation," said Paula LaBrie, Acting Director for the California
State Lottery. "Scientific Games gives us access to a great team of
experienced professionals to work with us on the execution of our
business plan initiatives following a record breaking year of
contributions to education."
"The California Lottery is a long valued customer of Scientific
Games. Our history together began in 1985 when the Lottery
started. We are honored to be selected for our
creativity, game innovation and unique capability to continue to
support the Lottery's growth," said James
Kennedy, Executive Vice President and Group Chief Executive
of Lottery for Scientific Games.
In fiscal year 2012-13, the California Lottery celebrated record
instant game sales of $3.0 billion,
an increase of 8.5% over the prior fiscal year. The Lottery
recently launched Fortune 55, the first HTML 2nd Chance interactive
game in the U.S. lottery industry.
About Scientific Games
Scientific Games Corporation
is a leading developer of technology-based products and services
and associated content for worldwide gaming and lottery
markets. The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services. For more information,
please visit: www.scientificgames.com.
Company Contacts
Investor Relations:
Cindi Buckwalter, (212) 754-2233
William Pfund, (847) 785-3167
Media Relations:
Aimee Remey, (212) 754-2233
About the California Lottery
The mission of the
California Lottery is to provide supplemental funding to
California schools while
simultaneously supporting local communities. More than 96 cents of every dollar spent by our players
goes back to local communities in the form of contributions to
public schools and colleges, prizes and retail compensation. The
California Lottery urges its customers to play responsibly and
within their budgets.
Forward-Looking Statements
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. Forward-looking
statements may contain expectations regarding activities, financial
position, operations, synergies and other results following our
acquisition of WMS. These statements are based upon management's
current expectations, assumptions and estimates and are not
guarantees of timing, 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; effect of indebtedness on our operations
and financial condition; availability and adequacy of cash flows to
satisfy obligations and indebtedness or future needs; protection of
our intellectual property; ability to license third party
intellectual property; intellectual property rights of others;
security and integrity of software and systems; reliance on
information technology 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; inability of our
joint venture to meet the net income targets or otherwise to
realize the anticipated benefits under its private management
agreement with the Illinois Lottery; inability of our 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;
disruption of our current plans and operations in connection with
our acquisition of WMS; 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; slow growth of gaming jurisdictions or the casino
industry; decline in the replacement cycle of gaming machines;
consolidation or ownership changes in the casino industry;
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 in our Annual Report on Form 10-K
filed with the SEC on March 12, 2013
and in our 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