Scientific Games Wins NY Lottery Contract
NEW YORK – (PRESS RELEASE) -- Scientific Games (Nasdaq: SGMS) has been selected as the successful vendor for the primary contract to supply the New York State Lottery with instant ticket games and services. The three year contract is valued at approximately $30 million over its initial term and provides for two potential one-year extensions. The contract is expected to start on May 21, 2006. Previously, Scientific Games was the secondary instant ticket supplier for the New York State Lottery since 2001.
"New York is the largest lottery in the United States and a very important customer that we look forward to expanding our relationship with," said Lorne Weil Chairman and CEO of Scientific Games. "The lottery provides more than $2 billion a year in key funding to public education in the state, and we believe there is an opportunity to grow that number."
"Scientific Games has been the secondary supplier of instant games in New York for 5 years and we are very pleased that their role has been expanded to primary supplier," said Lottery Director Nancy Palumbo. "Their games have been very popular and we look forward to more new and creative games that will continue to increase our instant game revenue."
The New York State Lottery is the nation's largest, generating more than $6.2 billion in sales for fiscal year 2005. The Lottery provides over $2 billion annually to education in New York State, representing about 5 percent of total public funding for New York's schools. In addition, the Lottery also serves as the major supporter of the Empire State Games, the largest state-run amateur athletic competition in the United States.
