NEW YORK, May 9, 2011 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) today announced that the Company has been awarded a contract to be the primary vendor to supply instant ticket games and related services to the Missouri State Lottery. The Company was selected following a competitive procurement process. The three-year contract, which beings on July 1, 2011, includes seven one-year contract extension options. Revenue to Scientific Games will be based on a percentage of instant ticket retail sales.
"We are excited to continue to work with Scientific Games, who has a strong track record of growing Missouri Lottery proceeds as a result of their innovative content, comprehensive marketing analysis and excellent security," said May Scheve Reardon, Executive Director of the Missouri State Lottery. "Over our nearly 20-year history of working together, Scientific Games has helped grow Scratchers instant ticket sales from $97 million, or 44% of total lottery sales in fiscal year 1992, to $638 million, or 66% of total lottery sales in fiscal year 2010."
"We look forward to continuing our successful partnership with the Missouri Lottery," commented Jim Trask, President of the Printed Products Group for Scientific Games Corporation. "With the marketing plan we proposed, we believe the Lottery's growth trajectory will continue and further benefit education in the state of Missouri."
In fiscal year 2010, the Missouri Lottery generated $972 million in retail sales, of which $638 million were derived from instant ticket game sales. Since 1986, the Lottery has returned more than $3 billion to Missouri and public education and more than $6 billion to players.
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 include instant lottery games, lottery gaming systems, terminals and services, and internet applications, as well as server-based interactive gaming machines 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," "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 projected 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 complete the proposed acquisition of Barcrest Group Limited and Cyberview Technology CZ s.r.o.; inability to benefit from, and risks associated with, joint ventures and strategic investments and relationships; pending legal challenges that may affect our joint venture's Illinois lottery private management agreement or the failure of our joint venture to meet the net income targets or otherwise realize the anticipated benefits under such agreement; seasonality; inability to identify and capitalize on trends and changes in the lottery and gaming industries; 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 foreign operations; influence of certain stockholders; dependence on key personnel; failure to perform on 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, including under the heading "Risk Factors" in our 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