NEW YORK, June 20, 2011 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) today announced that Sciplay, its joint venture with Playtech Limited (AIM: PTEC), has signed an agreement with the California Online Poker Association ("COPA") to be its provider of intrastate internet poker services.
COPA is the largest association of California's proven and trusted gaming partners. Its membership is comprised of 29 federally recognized California tribal governments and 31 state-licensed California card clubs. The agreement followed a competitive selection process designed to identify the most capable service provider suitable to serve the needs of the California poker players, estimated to be the largest number of poker players in any one state in the United States. Under the terms of the agreement, COPA will receive a full suite of internet poker services, including network management, hosting, advisory services, customer support, internal marketing, and all associated hardware. The contract was signed in conjunction with a separate software licensing agreement between Playtech and COPA.
California is currently considering legislation to authorize and license intrastate internet poker offerings. In advance of this, these agreements with Sciplay and Playtech will enable COPA to offer internet poker in a "play for fun" mode, which provides players with the opportunity to improve their strategies and hone their skills for free. This website is planned for launch in 2011.
Robert Martin, Chairman of the Morongo Band of Mission Indians and a member of COPA's Board of Managers, said, "It has been estimated that Californians wager more than $13 billion annually on illegal, offshore internet poker websites. Our mission is to provide California players with a safe and secure option to play poker legally on the internet. On behalf of all of COPA's trusted gaming partners, both tribes and card clubs alike, we are very pleased to enter these agreements with Sciplay and Playtech to deliver a full service solution."
Haig Papaian, President and CEO of Commerce Casino and a member of COPA's Board of Managers, said, "We sought a best-in-class service provider for COPA and after an extremely competitive selection process, Sciplay was the clear winner. It delivers the perfect combination of Playtech's state-of-the-art, industry-leading gaming software and online experience, with Scientific Games' nearly 40 years of expertise in providing secure, regulated, compliant-compatible services and meeting strict protocols of domestic and international regulatory bodies."
Rick Weil, CEO of Sciplay, said, "We are proud to be part of COPA's progressive efforts in California to serve the needs of poker players throughout the state. COPA is supremely well positioned to become a licensed operator should internet poker become legal in the state of California and Sciplay is delighted to have the opportunity to work with COPA. This contract demonstrates the value of the Scientific Games and Playtech joint venture and we see this as the first of a number of opportunities where our combined capabilities can deliver a comprehensive solution."
The California Online Poker Association (COPA) is a California LLC consisting of 29 California tribal governments and 31 California-licensed card clubs. COPA is dedicated to the development of a safe and secure option for Californians to play poker online. As California's gaming partners, tribes and card rooms have proven to be responsible gaming operators, providing tens of thousands of jobs and more than $11 billion in state revenues over the past decade. www.calonlinepoker.org
Sciplay International SARL, a joint venture of Scientific Games and Playtech, is chartered with delivering the latest, state-of-the-art interactive technology to government-sponsored and government regulated gaming operators. This joint venture combines Playtech's acclaimed B2B internet gaming software and content with Scientific Games' nearly 40 years of B2G expertise in creating fully compliant, revenue-generating, responsible gaming solutions for government gaming entities. For more information, please visit our website at www.sci-play.com.
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
Playtech develops unified software platforms and content for the online and land-based gaming industry. Leading gaming applications include casino, poker, bingo, sports betting, live gaming, casual and fixed odds games. Playtech provides licensees with the tools to maximize cross-selling opportunities, player loyalty and yield, all through the powerful management interface - the IMS. The system's fully integrated, cross-platform capability enables players to access online, broadcast, mobile and server-based gaming terminals, through a single account.
New licensees include existing online operators upgrading or diversifying their offering, land based casino groups, government sponsored entities such as lotteries, and new entrants making their online gaming debut, particularly in the newly regulated markets.
Founded in 1999, Playtech has over 1,000 employees located in development centres in five countries, the majority of whom are engaged in research and development of current and future gaming technologies. www.playtech.com
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