LAS VEGAS and ATLANTA, March 9, 2017 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today congratulated the Florida Lottery (the "Lottery"), one of its largest and most successful instant game customers in the world, on its historic, record-breaking week of instant game retail sales resulting in more than $19.44 million in transfers to the State of Florida. More than 99 percent of the Lottery's total retail sales of $105.2 million for the week ended March 5, 2017 came from instant game products created by Scientific Games.
Since 1997, Scientific Games has partnered with the Florida Lottery through the Company's Cooperative Services Program™ (CSP) which provides instant game design, programming, manufacturing, inside sales, marketing, warehousing, distribution and retail services. The Company's CSP facility in Orlando helps service the Lottery's more than 13,000 retailers throughout the state.
Fiscal year 2015-16 marked the Florida Lottery's fifth consecutive year of record sales, and its 15th consecutive year of exceeding $1 billion in annual transfers to the state. The Lottery's instant game sales have grown more than a 77.6 percent in the last five years.
Tom Delacenserie, Secretary of the Florida Lottery, said, "The popularity of our instant games with Floridians is just phenomenal. We are tracking for another year of unprecedented sales and transfers to the state's Educational Enhancement Trust Fund because of the collaboration between our teams and Scientific Games' teams in managing our instant game portfolio."
Most recently, the Lottery worked with Scientific Games to create a new $25 game, $10,000,000 World Class Cash, that launched during the record-breaking week and represented 16.5 percent of total retail sales. Also during the record week, the Company's Gold Rush family of instant games at the $1, $2, $5, $10 and $20 price points represented 33.4 percent of total retail sales. Twenty-five different instant games created by Scientific Games each had over $1 million in retail sales during the record-breaking week.
John Schulz, Senior Vice President of Instant Products for Scientific Games, said, "Tom Delacenserie has applied his strong consumer products background to Scientific Games' global best practices when it comes to managing the Florida Lottery's instant games. He truly understands how the Lottery's instant games should be marketed through a total category management approach, beginning with game launch through the player's retail experience. We congratulate the Florida Lottery on yet another record-breaking week of returns to education in Florida."
More than 20 lotteries globally partner with Scientific Games for CSP services. Scientific Games provides games, technology and services to more than 150 lotteries worldwide, including nearly every North American lottery.
Scientific Games Corporation (NASDAQ: SGMS) is a leading developer of technology-based products and services and associated content for worldwide gaming, lottery and interactive markets. The Company's portfolio includes gaming machines, game content and systems; table games products and utilities; instant and draw-based lottery games; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and interactive content and services. For more information, please visit us at www.scientificgames.com.
Corporate Communications: Susan Cartwright (702) 532-7981
In this press release, Scientific Games 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," "plan," "continue," "believe," "expect," "anticipate," "target," "should," "could," "potential," "opportunity," "goal," 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. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. 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 slow growth of new gaming jurisdictions, slow addition of casinos in existing jurisdictions, and declines in the replacement cycle of gaming machines; ownership changes and consolidation in the gaming industry; opposition to legalized gaming or the expansion thereof; inability to adapt to, and offer products that keep pace with, evolving technology, including any failure of our investment of significant resources in our R&D efforts; inability to develop successful products and services and capitalize on trends and changes in our industries, including the expansion of internet and other forms of interactive gaming; laws and government regulations, including those relating to gaming licenses and environmental laws; dependence upon key providers in our social gaming business; inability to retain or renew, or unfavorable revisions of, existing contracts, and the inability to enter into new contracts; level of our indebtedness, higher interest rates, availability or adequacy of cash flows and liquidity to satisfy indebtedness, other obligations or future cash needs; inability to reduce or refinance our indebtedness; restrictions and covenants in debt agreements, including those that could result in acceleration of the maturity of our indebtedness; protection of our intellectual property, inability to license third party intellectual property, and the intellectual property rights of others; security and integrity of our products and systems and reliance on or failures in information technology and other systems; challenges or disruptions relating to the implementation of a new global enterprise resource planning system; failure to maintain internal control over financial reporting; 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; failure to achieve the intended benefits of our acquisitions; incurrence of restructuring costs; implementation of complex revenue recognition standards or other new accounting standards; changes in estimates or judgments related to our impairment analysis of goodwill or other intangible assets; 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, restrictions on the payment of dividends from earnings, restrictions on the import of products and financial instability, including the potential impact to our business resulting from the affirmative vote in the U.K. to withdraw from the EU, and the potential impact to our instant lottery game concession or VLT lease arrangements resulting from the recent economic and political conditions in Greece; changes in tax laws or tax rulings, or the examination of our tax positions; dependence on key 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 (including labor disputes), intellectual property, environmental laws and our strategic relationships; influence of certain stockholders; and stock price volatility.
Additional information regarding risks, 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 our filings with the SEC, including the Company's current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on March 3, 2017 (including under the headings "Forward Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for Scientific Games' ongoing obligations under the U.S. federal securities laws, Scientific Games undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.