Scientific Games Receives Three-Year Contract Extension with Delaware Lottery for Instant Games and Cooperative Services Program
Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced that it has signed a full extension of its contract with the Delaware Lottery to continue as a provider of instant lottery games and a Cooperative Services Program (CSP). Under the agreement, the Company will continue to provide instant games to the Delaware Lottery for three additional years beginning February 1, 2015. Scientific Games will also continue to provide CSP services including instant game design, marketing services, warehouse management, inventory control and retail distribution.
NEW YORK, September 25, 2014. PRNewswire – Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced that it has signed a full extension of its contract with the Delaware Lottery to continue as a provider of instant lottery games and a Cooperative Services Program (CSP). Under the agreement, the Company will continue to provide instant games to the Delaware Lottery for three additional years beginning February 1, 2015. Scientific Games will also continue to provide CSP services including instant game design, marketing services, warehouse management, inventory control and retail distribution.
"Scientific Games has been a trusted supplier to the Delaware Lottery since our first instant game in 1976 and we are pleased to extend this successful relationship," said Vernon Kirk, Delaware Lottery Director. "The extension enables us to continue delivering games that Delaware players find entertaining and that help our retailers grow sales as we fulfill our mission to return maximum contributions to the State of Delaware's General Fund."
John Schulz, Senior Vice President, Instant Products for Scientific Games said, "We are honored to continue to provide Delaware players with an entertaining instant product portfolio and to continuing partnering with the Delaware Lottery on a CSP program, which has been in place in the state since 1999. Our collaboration to ensure the right instant games are on sale at the right time with the right retailers has resulted in a 6.8% increase in their instant product category in fiscal year 2014, and 24% increase over last four fiscal years. We look forward to three more successful years."
In fiscal year 2014, the Delaware Lottery had a record year with $50.6 million in instant game sales.
About the Delaware Lottery
Since the start of operations in 1975, the Delaware Lottery has contributed more than $4.1 billion to the state's General Fund to help finance needed state services that benefit everyone in Delaware. The Lottery offers a variety of games: POWERBALL®, MEGA MILLIONS®, HOT LOTTO®, MULTI-WIN LOTTO, DELAWARE CASH 5®, PLAY 3, PLAY 4, Keno, iGaming and assorted Instant Games, Video Lottery, Sports Lottery and Table Games. Delaware Lottery game and promotional details are available at delottery.com, at licensed locations, and from the Lottery's office in Dover.
About Scientific Games www.scientificgames.com
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, visit www.scientificgames.com.
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
Phone: +1-847 785-3167