Scientific Games, Sports Toto Sign Deal
NEW YORK – (PRESS RELEASE) -- Scientific Games Corporation (Nasdaq: SGMS) announced that its subsidiary Scientific Games Worldwide, Ltd. completed an agreement with Sports Toto Co., Ltd., a Korean company, to supply equipment, a software license and related software maintenance and support for its development of a fixed odds gaming system. The agreement is for four years and is valued at $5 million over the term of agreement.
Sports Toto Co., Ltd. currently operates its gaming system for conducting a sports betting lottery for the promotion of sports in the Republic of Korea. Sports Toto intends to introduce Scientific Games' AEGIS(TM) Oddset Control System (OCS) and Oddset Information System (OIS) and related software maintenance services for fixed odds games. This agreement will expand Sports Toto's portfolio of sports betting lottery games and products in the Republic of Korea.
The official operation of the system in Korea is scheduled to launch in the first half of 2005.