Scientific Games Signs Rhode Island Lottery Instant Ticket Printing Services Contract
NEW YORK, July 31, 2013 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) today announced that the Company has signed a contract with the Rhode Island Lottery to serve as the sole supplier of instant ticket printing services. The Company was selected following a competitive procurement process. The three-year contract, which began on July 1, 2013, includes options for the Lottery to extend the contract for five additional one-year periods. Revenue to Scientific Games will continue to be based on a price per thousand tickets basis.
"We are very pleased to again have the opportunity to provide the Rhode Island Lottery with instant ticket games," stated Jim Kennedy, Chief Marketing Officer and President, Printed Products for Scientific Games. "We have enjoyed a long-standing relationship and we feel gratified that the Lottery would like us to become the sole vendor, receiving 100% of the instant ticket printing orders for the State."
"We value the relationship we have with Scientific Games and look forward to continuing to work with them," said Gerald Aubin, Director, Rhode Island Lottery. "Our players have become accustomed to Scientific Games' creative and entertaining instant games and we hope our expanded relationship can raise more revenues for the citizens of Rhode Island."
In fiscal year 2012-2013, the Rhode Island Lottery had instant game lottery sales of nearly $85 million, contributing to the Lottery's total revenue of approximately $775 million and transfers to the State's General Fund of nearly $379 million.
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.
Cindi Buckwalter, Investor Relations
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); the seasonality of our business; failure to receive the required approvals related to the award to our consortium of an instant ticket concession in Greece on a timely basis or at all, or otherwise to realize the anticipated benefits in connection with such concession; 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