NEW YORK, Aug. 22, 2012 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) today announced that the Company has signed a contract to supply instant ticket games and related services to the Texas Lottery Commission. The Company was selected following a competitive procurement process. The six-year contract, which begins on September 1, 2012, includes options for the Lottery to extend the contract for two additional three-year periods. Revenue to Scientific Games will continue to be based on a price-per-thousand tickets basis.
"Scientific Games has been a reliable and consistent supplier with whom we've produced entertaining and creative games," said Gary Grief, Executive Director of the Texas Lottery Commission. "We are pleased we can continue this relationship with Scientific Games in the hopes of returning more revenue to the state of Texas."
"Texas is the fourth largest lottery in the U.S., so this is an important contract win for us," commented Jim Trask, President of Printed Products for Scientific Games. "We are honored to be selected and are confident the instant tickets we produce together with the Texas Lottery will be of the highest standards of security and integrity."
In fiscal year 2011, the Texas Lottery generated lottery revenues of $3.8 billion, of which $2.8 billion was derived from instant ticket game sales, and over $1.0 billion was contributed to support public education in Texas.
About Texas Lottery
Beginning with the first ticket sold in 1992, the Texas Lottery has generated more than $20 billion in revenue for the state of Texas and distributed $38 billion in prizes to lottery players. Since 1997, the Texas Lottery has contributed more than $14 billion to the Foundation School Fund, which supports public education in Texas. As authorized by the Texas Legislature, certain Texas Lottery revenues benefit state programs including the Fund for Veterans' Assistance. For more information about the Texas Lottery, please visit www.txlottery.org.
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 includes instant lottery games, lottery gaming systems, terminals and services, and internet applications, as well as server-based interactive gaming terminals 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 contemplated 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, strategic equity investments and relationships; failure of Northstar to meet the net income targets or otherwise realize the anticipated benefits under its private management agreement with the Illinois Lottery; seasonality; inability to identify and capitalize on trends and changes in the lottery and gaming industries, including the potential expansion of regulated gaming via the internet; 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 international 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