New retail technology innovation integrates with Lottery Gaming Systems
A new retail technology will give U.S. consumers the opportunity to use their credit and debit cards to purchase lottery games at select retailers Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced that the company's new payment card technology solution for lottery retail sales is the first in the lottery industry to receive official Payment Card Industry ("PCI") Data Security Standard certification. The Multi-State Lottery Association has also approved Scientific Games' payment card solution for use in the U.S. where authorized.
LAS VEGAS, June 1, 2016 /PRNewswire/ -- A new retail technology will give U.S. consumers the opportunity to use their credit and debit cards to purchase lottery games at select retailers Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced that the company's new payment card technology solution for lottery retail sales is the first in the lottery industry to receive official Payment Card Industry ("PCI") Data Security Standard certification. The Multi-State Lottery Association has also approved Scientific Games' payment card solution for use in the U.S. where authorized.
Designed by the Payment Card Industry Security Standards Council, PCI certification ensures secure processing and end-to-end encrypted transmittal of credit card information. Scientific Games' innovation is a payment processing technology directly integrated with a lottery's gaming systems technology. PCI certification of the solution, which was field-tested with lottery retailers in Pennsylvania, was awarded following a stringent evaluation of key performance indicators (KPIs) and an IT controls assessment.
Steve Beason, Enterprise Chief Technology Officer, Scientific Games, said, "Lottery is a $276 billion consumer product business globally. We are becoming an increasingly cashless society and consumers want to purchase lottery games on credit and debit cards, just like any other product they purchase at big box retailers, grocery stores, neighborhood shops, convenience stores and gas stations."
Scientific Games' payment solution features card processing terminals which are Europay, Mastercard and Visa (EMV) compliant for financial security standards; the terminals also support mobile payment options such as Android Pay, Apple Pay and Samsung Pay.
According to the National Association of Convenience Stores, 40 percent of convenience store transactions in 2014 were credit and debit card purchases. Cash purchases at point-of-sale are expected to drop to 22.5 percent in 2017 (Huffington Post Money).
"We are the first company to implement secure, cashless payment solutions for lotteries, giving their retailers and players peace of mind that payment card transactions are processed on a secure, supervised system. Our global operations teams understand this is an important step forward to align with consumer demand," said Beason.
At the center of the secure payment card solution is Scientific Games' unique omni-channel enterprise service bus (ESB) technology, a service-oriented gaming platform designed to securely integrate third-party products and services such as credit, debit and gift card payment processing, as well as pay at the pump and in-lane at multi-checkout retail locations.
With operations on six continents, Scientific Games provides games, services, systems and retail technology to more than 150 lotteries globally, including nearly every North American lottery.
About Scientific Games (www.scientificgames.com)
Scientific Games Corporation (NASDAQ: SGMS) is a leading developer of technology-based products and services and associated content for worldwide gaming, lottery and interactive markets. The Company's portfolio includes gaming machines, game content and systems; table games products; instant and draw-based lottery games; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and interactive content and services.For more information, please visit: www.scientificgames.com.
In this press release, Scientific Games 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,” “goal,” or similar terminology. 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; U.S. and international economic and industry conditions, including declines in or slow growth of lottery retail sales or gross gaming revenues, reductions in or constraints on capital spending by gaming or lottery operators and credit risk relating to customers; slow growth of new gaming jurisdictions, slow addition of casinos in existing jurisdictions and declines in the replacement cycle of gaming machines; ownership changes and consolidation in the casino industry; opposition to legalized gaming or the expansion thereof; ability to adapt to, and offer products that keep pace with, evolving technology; ability to develop successful gaming concepts and content; laws and government regulation, including those relating to gaming licenses and environmental laws; inability to identify and capitalize on trends and changes in the gaming and lottery industries, including the expansion of interactive gaming; dependence upon key providers in our social gaming business; retention and renewal of existing contracts or entry into new or revised contracts; level of our indebtedness, higher interest rates, availability and adequacy of cash flows and liquidity to satisfy obligations or future needs, and restrictions and covenants in our debt agreements; protection of our intellectual property, ability to license third party intellectual property, and the intellectual property rights of others; security and integrity of our software and systems and reliance on or failures in our information technology systems; natural events that disrupt our operations or those of our customers, suppliers or regulators; inability to benefit from, and risks associated with, strategic equity investments and relationships, including (i) the 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, (ii) the 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) and (iii) failure to realize the anticipated benefits related to the award to our consortium of an instant lottery game concession in Greece; failure to achieve the intended benefits of the acquisition of WMS, 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 complete future acquisitions, including the pending acquisition of Bally Technologies, Inc. (“Bally”) due to the failure to obtain the required approvals or debt financing or otherwise; litigation relating to the pending Bally acquisition; disruption of our current plans and operations in connection with the pending Bally acquisition (whether prior to its completion or following its completion, including in connection with the integration of Bally), including departure of key personnel or inability to recruit additional qualified personnel or maintain relationships with customers, suppliers or other third parties; costs, charges and expenses relating to the pending Bally acquisition; inability to successfully integrate future acquisitions, including Bally (including SHFL entertainment, Inc. and Dragonplay Ltd.) following completion of the pending Bally acquisition; failure to realize the intended benefits of the pending Bally acquisition, including the inability to realize the anticipated synergies in the anticipated amounts or within the contemplated time-frames or cost expectations, or at all; inability to control Bally until completion of the Bally acquisition; incurrence of restructuring costs, revenue recognition standards and impairment charges; fluctuations in our results due to seasonality and other factors; dependence on suppliers and manufacturers; risks relating to foreign operations, including fluctuations in foreign currency exchange rates and restrictions on the import of our products; dependence on our employees; litigation and other liabilities relating to our business, including litigation and liabilities relating to our contracts and licenses, our products and systems, our employees, intellectual property and our strategic relationships; influence of certain stockholders; and stock price volatility. Additional information regarding risks, 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 our filings with the SEC, including under the heading ”Risk Factors” in our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date they are made and, except for Scientific Games’ ongoing obligations under the U.S. federal securities laws, Scientific Games 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
Telephone: (702) 532-7663
Telephone: (773) 961-1194
Telephone: (770) 825-4219