Scientific Games Completes Gaming System Conversion with New Player Subscription Technology for North Dakota Lottery
Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced that it has been awarded the contract by the New Zealand Lotteries Commission to provide instant games for Lotto New Zealand. Under the terms of the agreement, Scientific Games will work with Lotto New Zealand to grow sales of the Lottery's instant game portfolio. In addition to instant games, the Company will provide Lotto New Zealand with marketing support and creative services. The seven-year contract began in September 2014 and includes a one-year extension option.
NEW YORK, Nov. 4, 2014 /PRNewswire/ – Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced that it has been awarded the contract by the New Zealand Lotteries Commission to provide instant games for Lotto New Zealand. Under the terms of the agreement, Scientific Games will work with Lotto New Zealand to grow sales of the Lottery's instant game portfolio. In addition to instant games, the Company will provide Lotto New Zealand with marketing support and creative services. The seven-year contract began in September 2014 and includes a one-year extension option.
"We look forward to continuing our nearly 30-year relationship with Scientific Games to develop innovative products for New Zealand players," said Wayne Pickup, Chief Executive Officer, Lotto New Zealand. "We are focused on growing instant game sales and funding for our communities by taking our instant games to the next level with the vibrant new designs, foils, proprietary play styles and licensed brands offered by Scientific Games."
John Schulz, Senior Vice President, Instant Products for Scientific Games, commented, "Our agreement with Lotto New Zealand is one of the first of its kind in the Australasia region and we truly share their excitement for the potential of the instant product category in New Zealand. Using the industry's most advanced instant game design and manufacturing technology, marketing insights - including Scientific Games' unique 15 Determinants of Demand - and more than 40 years of global best practices for instant games, we are confident that our collaboration with Lotto New Zealand will result in great success."
Lotto New Zealand provides essential funding for thousands of community projects every year, including a variety of arts, cultural, sporting and community groups, including Sport New Zealand, Creative New Zealand and the New Zealand Film Commission. In 2014, Lotto New Zealand experienced $988.8 million in total sales, including $150.9 million in instant game product sales.
About Lotto New Zealand
Lotto New Zealand is a Crown Entity with a government-appointed board of directors. The organization was established in 1987 and operates under the Gambling Act of 2003. It exists to promote, organize and conduct lottery games for the benefit of New Zealand communities. Profits (in 2014, around 23 cents in every dollar spent on lottery products) are transferred to the New Zealand Lottery Grants Board for onward distribution to over 3,000 community groups every year. Lotto New Zealand's primary goal is to generate improved earnings in order to maximize the contributions made to New Zealand communities, while minimizing the incidence of any problem or underage gambling associated with its products.
About Scientific Games (www.scientificgames.com)
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.
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
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