Puerto Rico Tote, Data Communication and Uplink Valued at $2 Million a Year
NEW YORK, Jan. 16 /PRNewswire-FirstCall/ -- Scientific Games (Nasdaq:
SGMS) has signed an 11-year contract with the Camarero Group of San Juan,
Puerto Rico to provide tote, data communications, and simulcast satellite
uplink equipment and services, the company announced today. The pact is
expected to produce revenues of approximately $2 million per year.
The Camarero Group operates Hipodromo Camarero (formerly known as El
Comandante), the sole thoroughbred racetrack in Puerto Rico, and a network
of 650 Off-Track Betting shops (OTBs). Camarero also provides a television
program called "International Thoroughbred Action" which it broadcasts
throughout the island and to other countries.
"The Camarero Group is committed to restoring Puerto Rico racing to its
former levels of attendance and handle -- and then surpassing them -- and
we look forward to helping them achieve those goals," said Lorne Weil,
Chairman and CEO of Scientific Games.
"Scientific Games has the best suite of racing technology, and was the
clear choice to be our partner in growing the racing industry in Puerto
Rico. We will also look for new ways to grow our existing business in
Puerto Rico as well as developing our international simulcasting
opportunities," added Ervin Rodriguez, President of the Camarero Group.
About Scientific Games
Scientific Games Corporation is the leading integrated supplier of
instant tickets, systems and services to lotteries, a leading supplier of
fixed odds betting terminals and systems, interactive sports betting
terminals and systems, and wagering systems and services to pari-mutuel
operators. It is also a licensed pari-mutuel gaming operator in
Connecticut, Maine and the Netherlands and is a leading supplier of prepaid
phone cards to telephone companies. Scientific Games' customers are in the
United States and more than 60 other countries. For more information about
Scientific Games, please visit our web site at
http://www.scientificgames.com.
Forward-Looking Statements
In this press release we make "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of
1995. In some cases, forward-looking statements can be identified by the
use of forward-looking terminology such as "may," "will," "estimate,"
"intend," "continue," "believe," "expect" or "anticipate," or the negatives
thereof, variations thereon or similar terminology.
These forward-looking statements generally relate to plans and
objectives for future operations and are based upon management's reasonable
estimates of future results or trends. Although we believe that the plans
and objectives reflected in or suggested by such forward-looking statements
are reasonable, such plans or objectives may not be achieved.
Actual results may differ from projected results due, but not limited,
to unforeseen developments, including developments relating to the
following:
-- economic, competitive, demographic, business and other conditions in
our local and regional markets;
-- changes or developments in the laws, regulations or taxes in the gaming
and lottery industries;
-- actions taken or omitted to be taken by third parties, including
customers, suppliers, competitors, members and shareholders, as well as
legislative, regulatory, judicial and other governmental authorities;
-- changes in business strategy, capital improvements, development plans,
including those due to environmental remediation concerns, or changes
in personnel or their compensation, including federal, state and local
minimum wage requirements;
-- the availability and adequacy of our cash flow to satisfy our
obligations, including our debt service obligations and our need for
additional funds required to support capital improvements, development
and acquisitions;
-- an inability to renew or early termination of our contracts;
-- an inability to engage in future acquisitions;
-- the loss of any license or permit, including the failure to obtain an
unconditional renewal of a required gaming license on a timely basis;
and
-- resolution of any pending or future litigation in a manner adverse to
us.
Actual future results may be materially different from what we expect.
We will not update forward-looking statements even though our situation may
change in the future.
Forward-looking statements speak only as of the date they are made, and
except for our ongoing obligations under the U.S. federal securities laws,
we undertake no obligation to publicly update any forward-looking
statements whether as a result of new information, future events or
otherwise.
Company Contact:
Investor Relations
Scientific Games Corporation
212-754-2233
SOURCE Scientific Games
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CONTACT:
Investor Relations, Scientific Games
Corporation, +1-212-754-2233
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