LAS VEGAS and ATLANTA, Oct. 3, 2019 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") announced the Florida Lottery (the "Lottery") has selected Scientfic Games as its primary instant games provider through 2027, continuing a more than 30-year partnership on Scratch-Offs that grew the Lottery to one of the most successful in the world. Partnering with Scientific Games, the Lottery has experienced nine consecutive years of record instant game retail sales and is perenially ranked among the Top 5 lotteries worldwide for instant game per capita sales (La Fleur's Almanac).
The Company received the highest technical score from the State of Florida for an overall business solution that may generate up to $8.5 billion in funding for the Educational Enhancement Trust Fund during the term of the agreement. Scientific Games was chosen for its ability to continue to drive profits for the Florida Lottery with innovative, high-performing Scratch-Off games, advanced logistics and retailer optimization.
The new seven-year Scientific Games contract, which may be extended by the Lottery up to an additional seven years, includes an integrated portfolio of unique game content, products and services designed to maximize Lottery proceeds. The Company will provide its latest generation SciTrak Ultra® suite of instant games management tools, SCiQ® intelligent instant game retail ecosystem, analytics and insights and continued use of exciting licensed properties such as MONOPOLY™ and LOTERIA™ in Scratch-Off games, brands that are especially popular with Florida players.
"We set out to sign a contract that allows us to continue offering the best games possible at a cost-savings to the state," said Florida Lottery Secretary Jim Poppell. "In collaboration with Scientific Games, the Lottery will continue to offer best-in-class Lottery products, emphasize our responsible gaming initiatives, and maximize revenues in support of Governor DeSantis' bold vision for education in our state."
Since 1997, Scientific Games Enhanced Partnership (SGEP) has powered the Florida Lottery's instant games to perform 52% better than the lottery industry average with a 10-year compound average growth rate of 122%. SGEP begins and ends with entertaining game content driven by analytics and insights, managing every aspect of a Lottery's instant product portfolio from game design to manufacturing, inside sales, warehousing, distribution, and retailer programs.
John Schulz, Senior Vice President Lottery Instant Products for Scientific Games, said, "We are pleased the Florida Lottery chose Scientific Games for our unique ability to grow profits to benefit so many students in the state of Florida. We will continue to provide our world class SGEP services to expertly manage the full lifecycle of the Lottery's instant games, as well as the great licensed brands that Florida players love."
Scientific Games launched the world's first secure retail instant game in 1974, the first digital instant game in the U.S. in 2014, and is the leading provider of lottery interactive games, mobile apps, player loyalty programs and other interactive products and services in the U.S. lottery industry. The Company is also the fastest growing lottery systems technology provider in the U.S. Scientific Games provides games, technology and services to more than 150 lotteries around the globe, including nearly every North American lottery.
Scientific Games Corporation (NASDAQ: SGMS) is a world leader in entertainment offering dynamic games, systems and services for casino, lottery, online gaming and sports betting. Scientific Games offers the gaming industry's broadest and most integrated portfolio of game content, advanced systems, cutting-edge platforms and professional services. Committed to responsible gaming, Scientific Games delivers what customers and players value most: trusted security, engaging entertainment content, operating efficiencies and innovative technology. For more information, please visit scientificgames.com.
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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 can be identified by words such as "will," "may," and "should." 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 those factors described 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 February 28, 2019 (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.