LAS VEGAS and ATLANTA, June 8, 2015 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced that the Company has signed a new contract with Norsk Tipping (the "Lottery"), the National Lottery of Norway, to provide instant games and related marketing services. Awarded through a competitive procurement process, the three-year contract began January 29, 2015 and may be extended by the Lottery for an additional term. Scientific Games currently supplies Norsk Tipping with gaming system and retail technology.
Torbjorn Almlid, CEO of Norsk Tipping, said, "We are very excited about the opportunity to begin implementing the forward-looking instant product management strategy presented to us by Scientific Games. Our focus will be assessing how we can expand our instant game portfolio and segment our retailer network as a means of growing the instant product category. All of these efforts will be complimented by the installation of a new instant game engine from Scientific Games."
With total sales of 26.9 billion Norwegian Kroner in 2014, Norsk Tipping offers a wide range of lotto, sports, instant scratch, VLTs and interactive games in the Norwegian market. The Lottery's products are sold through a nationwide network of more than 4,000 retailers and via mobile platforms and the internet. Scientific Games has a history of working with Norsk Tipping since the launch of instant lottery games in Norway in 1995.
John Schulz, Senior Vice President, Instant Products for Scientific Games, said, "Scientific Games is honored to win Norsk Tipping's instant game business and to partner with one of the industry's most innovative lotteries on both instant products and lottery systems. We will now be able to combine our global instant category best practices and our systems expertise with the Lottery's unbridled knowledge of the Norwegian marketplace to offer an integrated portfolio of high-quality products and services that will help them achieve their goals."
The Lottery was created in 1948 by the Norwegian government and today funds cultural causes, sports facilities and scientific research. Considered by many in the global lottery industry to be among the most progressive and forward-looking lotteries in the world, Norsk Tipping has offered its products on the internet since 2001, one of the first lotteries in the industry to do so.
About Scientific Games
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 http://www.scientificgames.com
About Norsk Tipping
Norsk Tipping is assigned by the government to offer games that create excitement and entertainment within responsible limits, with the profits going to good causes. Norsk Tipping is a government-owned limited company under the direction of the Ministry of Culture. We are over 400 employees who ensure that every week we can pay out millions in prize money, and at the same time generate profits of NOK $11 million per day to benefit good causes. The regulation of money games in Norway is concentrated around preventing undesirable gaming behavior. Norsk Tipping is likewise assigned to channel people's gaming activity to games offered within responsible limits. This ensures good official control over the Norwegian gaming market and guarantees that revenues from money games goes to the benefit of society.
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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 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. 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 declines in or slow growth of lottery retail sales or gross gaming revenues, reductions in or constraints on capital spending by gaming or lottery operators and bankruptcies of, or credit risk relating to, customers; limited growth from new gaming jurisdictions, slow addition of casinos in existing jurisdictions and declines in the replacement cycle of existing gaming machines; ownership changes and consolidation in the casino industry; opposition to legalized gaming or the expansion thereof; ability to adapt to, and offer products that keep pace with, evolving technology; ability to develop successful gaming concepts and content; laws and government regulations, including those relating to gaming licenses and environmental laws; inability to identify and capitalize on trends and changes in the gaming and lottery industries, including the expansion of interactive gaming; dependence upon key providers in our social gaming business; retention and renewal of existing contracts or entry into new or revised contracts; level of our indebtedness, higher interest rates, availability and adequacy of cash flows and liquidity to satisfy obligations or future needs, and restrictions and covenants in our debt agreements; protection of our intellectual property, ability to license third party intellectual property, and the intellectual property rights of others; security and integrity of our software and systems and reliance on or failures in our information technology systems; 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, including (i) the 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 (or in connection with any termination thereof), (ii) the 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 and (iii) failure to realize the anticipated benefits related to the award to our consortium of an instant lottery game concession in Greece; failure to achieve the intended benefits of the Bally acquisition or the WMS acquisition, including due to the inability to successfully integrate such acquisitions or realize synergies in the anticipated amounts or within the contemplated timeframes or cost expectations, or at all; litigation relating to the Bally acquisition; disruption of our current plans and operations in connection with the Bally acquisition and the WMS acquisition (including in connection with the integration of Bally and WMS), including departure of key personnel or inability to recruit additional qualified personnel or maintain relationships with customers, suppliers or other third parties; costs, charges and expenses relating to the Bally acquisition and the WMS acquisition; inability to complete or successfully integrate future acquisitions; incurrence of restructuring costs, revenue recognition standards and impairment charges; 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 and restrictions on the import of our products; dependence on our employees; litigation and other liabilities relating to our business, including risks relating to product defects or other claims relating to products; 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 17, 2015 (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.
SOURCE Scientific Games Corporation