NEW YORK, June 7, 2013 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) today announced that it has signed an instant ticket and cooperative services contract with the South Carolina Education Lottery (SCEL). The new contract provides for game design and development, manufacturing, warehousing, distribution and marketing assistance for instant lottery games, as well as inventory management and related services. The five-year contract, which begins on October 1, 2013, was awarded through a competitive procurement process and includes an option for SCEL to extend the contract for an additional two years.
"We want to thank the SCEL for their selection of Scientific Games as their primary supplier for instant game products and distribution services," stated Jim Kennedy, Chief Marketing Officer and President, Printed Products for Scientific Games. "SCEL is one of the most successful lotteries in the U.S. and we are honored to be selected once again as the partner to help them continue building a strong instant game offering that helps fund education and supports a valued retail community. The management and staff at the SCEL are consummate professionals and we are proud to be associated with a world-class organization."
"We have had a long and successful partnership with Scientific Games dating back to the inception of the Lottery," said Paula Harper Bethea, Executive Director, South Carolina Education Lottery. "We have a great working relationship with the Scientific Games team and we were very impressed with their response to our RFP. We are looking forward to continuing to work with them to raise funds to support education in South Carolina."
In fiscal year 2012-2013, the South Carolina Education Lottery had instant game lottery sales of more than $758 million, representing 67% of total lottery sales. Since the start of the Lottery on January 7, 2002, more than one million college scholarships and grants have been awarded to South Carolina's students. In all, more than $3 billion has been transferred to support educational programs in the Palmetto 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.
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 enter into an agreement to provide marketing and sales services to the New Jersey Lottery (including as a result of a protest) or to meet the net income targets or other requirements under any such agreement or otherwise to realize the anticipated benefits under any such agreement; 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 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