NEW YORK, March 9, 2011 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) today announced that the Company has signed a contract to be the primary vendor to supply instant ticket games and related services to the Colorado Lottery. The Company was selected following a competitive procurement process, as previously announced on October 28, 2010. The contract extends through June 2014 and includes three one-year contract extension options. Revenue to Scientific Games is based on a price per thousand instant tickets.
"The Colorado Lottery holds its instant tickets to the highest standards of integrity, entertainment and efficiency," said Abel Tapia, Director of the Colorado Lottery. "Scientific Games has been our vendor since 1983 and they have demonstrated time and again their commitment to innovative design and printing technologies, while providing best-in-class security and customer service."
"We have a strong relationship with the Colorado Lottery and we are pleased to once again be their instant ticket primary vendor," commented Jim Trask, President of the Printed Products Group for Scientific Games Corporation. "We believe our unmatched level of critical support services and value-added offerings will help the Lottery achieve its sales goals and drive returns for the State's environmental and recreational efforts."
In fiscal year 2010, the Colorado Lottery generated $501.2 million in retail sales, of which $328.1 million were derived from instant ticket game sales. The Lottery returned $112.9 million to the state to support open space conservation, wildlife protection, trail construction and other recreational efforts.
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 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