LAS VEGAS, April 11, 2017 /PRNewswire/ -- Scientific Games
Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company")
today announced it completed the acquisition of privately held
mobile and social game company Spicerack Media, Inc. ("Spicerack").
The addition of Spicerack, creator of the Bingo Showdown
social bingo game app, complements Scientific Games' impressive
stable of social casino games and mobile offerings. The acquisition
will be immediately accretive to earnings and cash flow. Terms of
the deal were not disclosed.
Barry Cottle, Chief Executive, SG
Interactive, said, "We are excited by the addition of Spicerack's
talented team and complementary nature of their successful bingo
game offering to our expanding portfolio of rapidly growing social
casino apps. The acquisition will be immediately accretive and
provide additional momentum in the mobile gaming space, as we look
to exceed players' expectations of exciting and engaging gaming
entertainment experiences."
Spicerack's leading product, Bingo Showdown, which
constitutes the large majority of Spicerack's revenue, was a top
five social bingo title in 2016, and has seen increased growth and
market share gains each quarter since its launch. Spicerack's games
are available on Facebook, Amazon.com, the Apple app store and
Android app on Google play.
Davy Campano, one of the founders of Spicerack Media, said "We
are excited to bring our product portfolio into a company with the
reputation of Scientific Games. Their interactive business has seen
rapid growth over a sustained period of time, and we are proud to
be joining such a successful part of the Company."
Spicerack was founded in 2007 and is headquartered in
Chattanooga, Tennessee.
Spicerack was advised by Daniel
Burns and Adele Sinclair of
Oakvale Capital LLP.
© 2017 Scientific Games Corporation. All Rights Reserved.
About Scientific Games
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 and utilities; 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 us at
www.scientificgames.com.
COMPANY CONTACTS:
Investor
Relations:
Scientific Games: Bill Pfund +1 702-532-7663
Vice President, Investor Relations
bill.pfund@scientificgames.com
Media Relations:
Scientific Games: Susan Cartwright +1 702-532-7981
Vice President, Corporate Communications
susan.cartwright@scientificgames.com
Forward-Looking Statements
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," "plan,"
"continue," "believe," "expect," "anticipate," "target," "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. Therefore, you should not
rely on any of these forward-looking statements as predictions of
future events. 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:
disruption of current plans and operations as a result of the
transaction; competitive responses to the transaction; unexpected
costs, charges or expenses resulting from the transaction; the
ability of Scientific Games to integrate Spicerack's business; the
ability of Scientific Games to implement its plans, forecasts and
other expectations with respect to Spicerack's business after the
completion of the transaction; and the other risks, uncertainties
and important factors contained and identified in Scientific Games'
filings with the Securities and Exchange Commission ("SEC"),
including the Company's current reports on Form 8-K, quarterly
reports on Form 10-Q and its latest annual report on Form 10-K
filed with the SEC on March 3, 2017
(including under the headings "Forward Looking Statements" and
"Risk Factors"). 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.
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SOURCE Scientific Games Corporation