NEW YORK, Sept. 17, 2013 /PRNewswire/ -- Scientific
Games Corporation (Nasdaq: SGMS) today announced the planned
organizational structure and leadership team of the combined
company following the closing of the Company's pending merger with
WMS Industries Inc. (NYSE: WMS). Post-merger, the senior
corporate executives of Scientific Games will remain in their
current roles, including A. Lorne
Weil, who will serve as Chairman and Chief Executive Officer
of the combined company. Operationally, the Company will be
organized into two industry groups - Gaming and Lottery.
GAMING
The Gaming group is expected to be composed
of:
- the core WMS Gaming business;
- Scientific Games' server-based gaming business headquartered in
the U.K.;
- Gaming-related systems businesses of both Scientific Games and
WMS; and
- Williams Interactive.
The Gaming group will be led by William
J. Huntley, who will serve as Executive Vice President and
Group Chief Executive of Gaming, reporting to Mr. Weil. Mr.
Huntley currently serves as Executive Vice President and Chief
Executive Officer, Systems, of Scientific Games, and has overseen
the successful integration of several major acquisitions for
Scientific Games.
The senior management team of the Gaming group will report
directly to Mr. Huntley and is anticipated to include:
- Ken S. Lochiatto, President and
Chief Operating Officer of WMS Gaming;
- Scott D. Schweinfurth, Chief
Financial Officer of Gaming and Chief Integration Officer of
Scientific Games;
- Frederick M. Gabbard, Senior
Vice President, Product Development;
- Steven W. Beason, Enterprise
Chief Technology Officer of Scientific Games;
- Brooks H. Pierce, Chief Revenue
Officer of Gaming;
- Phil Horne, Group Managing
Director of SG Gaming U.K.; and
- Jordan E. Levin, Managing
Director of Williams Interactive.
Orrin J. Edidin will assume the
role of Senior Vice President, Strategy and Business Development of
Gaming, reporting directly to Mr. Weil. Steve Frater, Executive Chairman of SG Gaming
U.K., will continue to report to Mr. Weil. Messrs. Lochiatto,
Schweinfurth, Gabbard, Levin, and Edidin currently serve in senior
management roles at WMS.
Brian R. Gamache, who has served
as Chief Executive Officer of WMS since 2001 and Chairman since
July 2008, will continue with
Scientific Games in a consulting capacity to provide strategic
advice to Mr. Weil and the senior management team as the two
companies complete the integration and focus on the continued
growth of the Company's global gaming business.
LOTTERY
Both of Scientific Games' lottery businesses -
Printed Products and Lottery Systems - will be led by James C. Kennedy, who will serve as Executive
Vice President, Group Chief Executive of Lottery, reporting to Mr.
Weil.
"This announcement is an exciting step forward in the evolution
of Scientific Games into a global gaming company with the most
comprehensive portfolio of products and services and world-class
functional expertise across the lottery and gaming industries,"
said Mr. Weil. "I am excited about the experienced leadership
team we have chosen to take Scientific Games to the next level of
success. We are uniting two highly complementary businesses
and creating a collaborative team focused on delivering new
solutions, truly innovative content, world-class technology and
industry-leading services to customers around the globe."
As previously announced on January 31,
2013, Scientific Games entered into an agreement to acquire
WMS for $26.00 in cash per common
share, or approximately $1.5 billion
in the aggregate. The transaction, which remains subject to the
approval of gaming regulatory authorities and other customary
closing conditions, is expected to close in the fall of 2013. The
appointments announced today are based on current expectations and
are contingent on the closing of the merger.
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.
About WMS
WMS Industries Inc. is a leading supplier of
innovative gaming entertainment products and services
worldwide. The Company designs, develops, manufactures,
distributes and markets casino games and gaming machines, video
lottery terminals, video gaming terminals and interactive gaming
products and services. More information on WMS, and its
subsidiaries, WMS Gaming and Williams Interactive, can be found at
www.wms.com or www.williamsinteractive.com or visit the Company on
Facebook®, Twitter® or
YouTube®.
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. 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.
Contacts:
Investor Relations:
Cindi Buckwalter, (212) 754-2233
Media Relations:
Aimee Remey, (212) 754-2233
SOURCE Scientific Games Corporation