Scientific Games Extends Key Supply Agreement with Ladbrokes
NEW YORK, Oct. 25, 2013 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) announced today that its SG Gaming U.K. division has successfully extended its contract with major U.K. bookmaker Ladbrokes to be the sole provider of server-based gaming machines to its U.K. estate of nearly 2,250 shops through March 31, 2019. Under the terms of the contract, SG Gaming U.K. will be responsible for the supply and service of gaming machines, including the provision of approximately 9,000 of SG Gaming's new and advanced Clarity gaming machines with additional touch screens and improved customer relationship management (CRM) capabilities, which are expected to be installed during the first half of 2014.
"By renewing the contract early, Ladbrokes has demonstrated its commitment to the products and services provided by SG Gaming, including our renowned operational support," said Phil Horne, Group Managing Director of SG Gaming U.K. "Since partnering with Ladbrokes in 2010, SG Gaming's innovative content and Vision cabinet have helped drive Ladbrokes' gaming machine revenue to new levels. We've built a strong relationship with their team and look forward to continuing to help Ladbrokes grow revenue. We're providing an innovative new gaming machine developed exclusively for Ladbrokes, along with leading-edge content and the highest standards of service and support in order to give their players the best possible experience."
"Machine performance continues to be crucial to our overall strategy, and our partnership with SG Gaming has been very successful," said Nick Rust, U.K. and Ireland Director at Ladbrokes. "SG Gaming has delivered fantastic games to our customers, enabling us to grow machine revenues over the last three years. This new agreement marks the next phase of our partnership to help ensure Ladbrokes stays at the forefront of the gaming machine marketplace."
About Scientific Games
Scientific Games Corporation is a leading developer of technology-based products and services and associated content for worldwide gaming and lottery markets. The Company's portfolio includes instant and draw-based lottery games; electronic gaming machines and game content; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and social, mobile and interactive content and services. For more information, please visit: www.scientificgames.com.
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; 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; 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); 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; disruption of our current plans and operations in connection with the WMS Industries Inc. ("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 and WMS' 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 and under the heading "Risk Factors" in WMS' Annual Report on Form 10-K filed with the SEC on August 29, 2013. 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.
Cindi Buckwalter, (212) 754-2233
Aimee Remey, (212) 754-2233
SOURCE Scientific Games Corporation