Scientific Games to Provide National Lottery of Panama's First Online Lottery Game
NEW YORK, May 2, 2014 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) (the "Company") today announced it has signed an amendment to its contract with Loteria Nacional de Beneficencia of Panama ("National Lottery of Panama") to provide the country's first online lottery game, Pega 3, under the Company's existing agreement with the Lottery.
Created by Scientific Games, Pega 3 is scheduled to launch in June 2014 as a standard Pick 3 game.
"Pega 3 is our very first online lottery draw game and a brand new product for Panama as we continue to work in new ways to respond to our players and deliver the excitement of lottery with a high level of trust and integrity," said Ricardo Brooks, Director of Loteria Nacional de Beneficencia. "The new game will complement our existing portfolio of products, particularly the new instant games that launched last fall."
The Lottery began offering instant games to players for the first time in October 2013 under a ten-year contract with Scientific Games, which was awarded through a competitive procurement process the same year. Currently, the National Lottery of Panama operates traditional draw-based lottery games through a network of 13,500 lottery vendors.
"Consumers in Panama have embraced the instant games that recently launched and the Lottery's hard work has resulted in gaining the player's interest and trust," said Patrick McHugh, President, North American Lottery Systems for Scientific Games. "We see the Pega 3 online game as a new choice for players; it is the next step for the Lottery's expanding product portfolio and we anticipate that it will be well-received by players."
The National Lottery of Panama reported that it generated $610 million USD in total retail sales in 2013, which included $23 million USD in instant game sales following the introduction of instant games in October.
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.
William Pfund, (847) 785-3167
Mollie Cole, (773) 961-1194
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," "targeted," "should," "could," "potential," "opportunity," 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. 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; U.S. and international economic and industry conditions including declines or slow growth of revenue or capital spending of gaming or lottery operators; slow growth of new gaming jurisdictions; slow addition of casinos in existing jurisdictions; declines in the replacement cycle of gaming machines; ownership changes and consolidation in the casino industry; opposition to the expansion of legalized gaming; ability to adapt to, and offer products that keep pace with, evolving technology; ability to develop successful gaming concepts and content; laws and government regulation, including those relating to gaming licenses and environmental laws; inability to identify and capitalize on trends and changes in the lottery and gaming industries, including the expansion of interactive gaming; dependence upon key providers in our social gaming business; retention and renewal of existing contracts and entry into new or revised contracts; level of our indebtedness; availability and adequacy of cash flows to satisfy obligations or future needs; restrictions and covenants in our debt agreements; protection of our intellectual property; ability to license third party intellectual property; intellectual property rights of others; security and integrity of our software and systems and reliance on or failures in our information technology systems; natural events that disrupt our operations or those of our customers, suppliers or regulators; 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 lottery game concession in Greece; 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 complete and integrate future acquisitions; restructuring costs; revenue recognition standards; impairment charges; fluctuations in our results due to seasonality and other factors; dependence on suppliers and manufacturers; risks relating to foreign operations, including fluctuations in foreign currency exchange rates and restrictions on the import of our products; dependence on our employees; litigation and other liabilities relating to our business, including litigation and liabilities relating to our contracts and licenses, our products and systems, our employees, intellectual property and our strategic relationships; influence of certain stockholders; 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 in our Annual Report on Form 10-K filed with the SEC on March 17, 2014 and in our subsequent periodic reports), including under the heading "Risk Factors" in the Company's 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