LAS VEGAS and ATLANTA, April 7,
2020 /PRNewswire/ -- Scientific Games
Corporation (NASDAQ: SGMS) ("Scientific Games" or the
"Company") announces it won the Iowa Lottery's (the "Lottery)
10-year contract for a new statewide gaming system to serve the
lottery and the 2,400 retail locations where Iowa Lottery games are
sold. The Iowa Lottery Authority Board voted 5-0 to award
Scientific Games the contract and begin negotiations immediately.
The 10-year contract may be extended by the Lottery up to five
additional years. The Iowa Lottery plans to flip the switch to the
new gaming system in the summer of 2021.
Scientific Games was selected as the best choice to meet the
Iowa Lottery's business objectives and upgrade the Lottery's 2011
technology with minimal disruption to game sales, providing
millions of dollars for vital state programs benefitting
Iowans.
The Company won the contract based on highest overall score and
ability to maximize funding for the Lottery's beneficiaries. Over
the last eight years of the Company's current contract with the
Iowa Lottery, the Lottery experienced an $878 million growth in total retail sales, or an
average of $109 million in growth per
year. Scientific Games also provides instant scratch games to the
Iowa Lottery.
The Iowa Lottery's gaming systems provider for the past 18
years, Scientific Games will deliver technology to the Iowa Lottery
with minimal disruption to retail sales and responsibly generate
vital funding for Iowa state
programs, like university research, veterans and agriculture.
"Scientific Games appreciates the trust the Iowa Lottery has
placed in our Company and our technology to continue supporting
programs that help make Iowa a
great place to live," said Pat
McHugh, Lottery Group CEO for Scientific Games. "We are also
very proud that the hard work of our teams and ability to
successfully align with lotteries' business plans continues to
position Scientific Games as the fastest growing lottery systems
provider in North America."
Scientific Games is working with the Iowa Lottery to finalize
the contract and plan a seamless switch to the new technology. As
part of the new technology rollout, the Iowa Lottery will upgrade
to an advanced gaming system, central communications network,
retailer terminals, and player self-service kiosks.
Scientific Games is a U.S.-based company providing games,
technology and services to more than 150 lotteries around the
globe, including nearly every North American lottery.
© 2020 Scientific Games Corporation. All Rights Reserved.
About Scientific Games
Scientific Games Corporation (NASDAQ: SGMS) is a world
leader in entertainment offering dynamic games, systems and
services for casino, lottery, social gaming, online gaming and
sports betting. Scientific Games offers the gaming industry's
broadest and most integrated portfolio of game content, advanced
systems, cutting-edge platforms and professional services.
Committed to responsible gaming, Scientific Games delivers
what customers and players value most: trusted security, engaging
entertainment content, operating efficiencies and innovative
technology. For more information, please visit
scientificgames.com.
The information contained on, or that may be accessed through,
our website is not incorporated by reference into, and is not a
part of, this document.
Media Contact
media@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 can be identified by words such as
"will," "may," and "should." 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, uncertainties and other factors, including
those factors described in our filings with the Securities and
Exchange Commission (the "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 February 18, 2020 (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