NEW YORK, Oct. 11, 2013 /PRNewswire/ -- Scientific Games
Corporation (Nasdaq: SGMS) today announced that it has signed a
four-year extension to its contract as the primary supplier of
instant games and cooperative services to the Florida
Lottery. The extension, which will continue to provide for
instant game design, marketing services, warehouse management,
inventory control and retail distribution, will begin in
October 2014.
"We are delighted to continue our relationship with the Florida
Lottery, which has operated one of the most successful instant game
programs in the country by focusing on managing the entire instant
product category," stated A. Lorne
Weil, Chairman and Chief Executive Officer of Scientific
Games. "The Florida Lottery is an industry leader and we look
forward to bringing continued innovation to help the Lottery raise
more money for education."
"We are very pleased to extend our relationship with Scientific
Games," said Cynthia O'Connell,
Secretary of the Florida Lottery. "This partnership has helped
contribute to the incredible growth of the Florida Lottery,
including record sales and record contributions to education in the
past two years. We look forward to maximizing this
relationship even further and ensuring continued responsible growth
of our organization."
In fiscal 2013, the Florida Lottery had total lottery sales of
over $5 billion, with over
$3 billion from instant game lottery
sales. Celebrating its 25th anniversary this year,
the Lottery has contributed more than $25
billion to education in the State.
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.
Company Contact:
Cindi Buckwalter, Investor
Relations
(212) 754-2233
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.
SOURCE Scientific Games Corporation