NEW YORK, Dec. 5, 2013 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) (the "Company") today announced that Andrew E. Tomback has joined the Company as Senior Vice President and General Counsel, effective December 1, 2013.
Mr. Tomback comes to Scientific Games with 25 years of experience in government service, business and private practice. Prior to joining the Company, Mr. Tomback was a Partner at Zuckerman, Spaeder LLP, a premier Washington D.C.-based litigation firm where he was a key litigator in the firm's New York office. Previously, he was a Partner at Milbank, Tweed, Hadley and McCloy LLP.
Prior to entering private practice, Mr. Tomback was Deputy General Counsel of the Resolution Trust Corporation, and he also served as an Assistant U.S. Attorney in the Criminal Division of the U.S. Attorney's Office, Southern District of New York. He received his Bachelor of Arts summa cum laude from Yale College and his Juris Doctorate from Yale Law School.
"We are very pleased to have Andrew join our management team at this time," said David Kennedy, President and Chief Executive Officer of Scientific Games. "Andrew's extensive background and experience make him an excellent addition and I am confident he will be a significant contributor to the success of our business."
On December 5, 2013, Mr. Tomback will receive a grant of 100,000 restricted units (RSUs) and a grant of stock options to purchase 200,000 shares of the Company's common stock (with an exercise price equal to the average of the high and low sales prices of the Company's stock on December 4, 2013, and a ten-year term), which awards are scheduled to vest in one-fourth increments on each of the first four anniversaries of December 2, 2013. The RSUs and stock option grants were approved as employment inducement grants pursuant to Nasdaq Listing Rule 5635(c)(4).
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.
Cindi Buckwalter, (212) 754-2233
William Pfund, (847) 785-3167
Aimee Remey, (212) 754-2233
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. Forward-looking statements may contain expectations regarding activities, financial position, operations, synergies and other results following our acquisition of WMS. 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; material adverse changes in economic and industry conditions; technological change; retention and renewal of existing contracts and entry into new or revised contracts; effect of indebtedness on our operations and financial condition; availability and adequacy of cash flows to satisfy obligations and indebtedness or future needs; protection of our intellectual property; ability to license third party intellectual property; intellectual property rights of others; security and integrity of software and systems; reliance on information technology 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 our acquisition of WMS; 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; slow growth of gaming jurisdictions or the casino industry; decline in the replacement cycle of gaming machines; consolidation or ownership changes in the casino industry; 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 in our Annual Report on Form 10-K filed with the SEC on March 12, 2013 and in our 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