California Lottery Confirms Scientific Games
NEW YORK – (PRESS RELEASE) -- Scientific Games Corporation (Nasdaq: SGMS) announced that the California State Lottery has confirmed that its previously announced instant lottery tickets and related services contract is valued at $33 million over the initial four-year term. This means that approximately 75 percent of the instant ticket manufacturing and related services will be provided by Scientific Games as the primary supplier.
On Wednesday, June 29, 2005, the California State Lottery held a meeting to confirm the details of the instant ticket and related services award. In the meeting the Lottery confirmed the budget for fiscal year 2006 projects lottery sales of $3.65 billion of which $1.8 billion will be from the instant product.
Lorne Weil, chairman and CEO of Scientific Games, said, "We consider this a very important win for Scientific Games and we intend to do everything possible to exceed the California Lottery's expectations. With our lineup of hugely successful games, including high price point tickets, electronic game cards and licensed brand products, we expect to be anticipate being very successful in helping California generate more funds for education."
Chon Gutierrez, the California Lottery's Acting Director, added, "The Lottery has enjoyed nearly 20 years of providing entertaining products to California players and now looks forward to partnering with Scientific Games in continuing to produce quality instant tickets."
