Scientific Games Inks Georgia Lottery Contract Extension
Nov 16, 2008 (financialwire.net via COMTEX) --
Company: Scientific Games Corp. (SGMS)
November 14, 2008 (FinancialWire) -- Scientific Games (NASDAQ: SGMS) (Current Market Cap: US$1.34 Bil.) said that it has signed a three-year contract extension as the primary vendor to supply instant tickets and related services including marketing, shipping, warehousing, game design, inventory control, distribution and sales staff training, to the Georgia Lottery Corp.
The extension commences in September 2010 and lengthens the current contract to 2013. Scientific Games said it estimates that the contract will be worth around $28 million per year in revenues.
Georgia Lottery said it produced $2.4 billion in instant ticket sales, representing 68% of total lottery sales, and returned $867 million to fund educational causes, in fiscal 2008.
New York-based Scientific Games is an integrated supplier of instant tickets, systems and services to lotteries worldwide, and a supplier of server based gaming machines and systems, amusement and skill with prize betting terminals, interactive sports betting terminals and systems, and wagering systems and services to pari-mutuel operators.
The company is also a licensed pari-mutuel gaming operator in Connecticut, Maine and the Netherlands and is a supplier of prepaid phone cards to telephone companies.
FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net .
Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .
http://www.financialwire.net
Copyright (C) 2008 Investrend. All rights reserved
News Provided by COMTEX
Company: Scientific Games Corp. (SGMS)
Related terms: communications, connecticut, contract, georgia, lottery, maine, market, marketing, nasdaq, new york, sales, science, shipping, sports, standards, training
