Scientific Games signs Iowa deal
21 Sep 2007
NEW YORK -- (PRESS RELEASE) -- Scientific Games (Nasdaq:
SGMS) announced it has been selected as the primary vendor to supply
instant tickets and related services for the Iowa Lottery. Subject to
negotiation, a contract for a two-year term would begin January 1, 2008,
and include options to extend for three additional one-year periods.
Scientific Games was chosen through a competitive procurement and this
contract is expected to generate approximately $1 million in revenue per
year.
"We are proud to be a part of the Iowa Lottery, which is well recognized as one of the most innovative and forward-looking lotteries in the world," said Lorne Weil, Chairman and CEO of Scientific Games. "We have cultivated a great relationship with the Iowa Lottery over the years and we look forward to their continued strong growth."
In fiscal 2007, the Iowa Lottery generated $235 million in retail sales, of which $125 million were from instant tickets, and returned $58 million to the state.