NAMES INTELSAT CHAIRMAN AS CEO AS OF JANUARY 2009
NEW YORK, April 29 /PRNewswire-FirstCall/ -- Scientific Games
Corporation (Nasdaq: SGMS) announced a move to strengthen and ensure
continuity in the strategic and operating management of the lottery and
gaming company during its continued expansion in international markets.
A. Lorne Weil, the Company's Chairman and Chief Executive Officer, has
advised the Company that, consistent with his employment contract, he will
relinquish his duties as CEO at the end of December 2008 and will continue
on with the Company as its Chairman through 2009 and for at least two more
additional years. Mr. Weil today announced that Joseph R. Wright Jr.,
Chairman of Intelsat, Ltd., will replace him as Chief Executive Officer of
Scientific Games on January 1, 2009. He will resign his position at
Intelsat, effective May 1, 2008, and become Vice Chairman of Scientific
Games' Board of Directors at that time. Mr. Wright has been a member of the
Scientific Games Board of Directors since 2004.
Said Mr. Weil, "The Board and I are very pleased to have Joe join our
senior management team; he has been a trusted advisor and member of our
Board for nearly four years. His relevant experience and outstanding track
record in both government and industry will be an invaluable addition to
Scientific Games. As Chairman of Intelsat, Ltd., the world's leading
provider of fixed satellite services, and former Chief Executive Officer of
PanAmSat Corporation, Joe brings to us a focus on financial controls and
discipline, astute technology management, and important domestic and
international governmental relations skills."
Mr. Weil continued, "We are equally pleased that Michael Chambrello
will continue as President and Chief Operating Officer through at least
2010 as well. Mike, who has been the architect of both the strategy and
execution of our recently launched activities in China, will continue to be
the primary touchpoint to all our markets and customers around the world,
as well as the principal day-to-day manager of our global operating
organization."
Further commenting Mr. Weil said, "In my continuing role as Chairman, I
will devote my time to overall strategic and organizational guidance, M&A,
and new business development, as well as maintaining personal contact with
key worldwide customers and other business partners with whom I've
established personal relationships over the years. I have agreed with the
Board to extend my current employment agreement through the end of 2011,
subject to the evergreen provision thereafter."
"I am pleased to be joining the Scientific Games team on a full-time
basis," said Mr. Wright. "I believe that Scientific Games is well
positioned to substantially expand its international presence, particularly
in China. I look forward to working with the Board and the current
management team at this exciting time in the Company's history."
Mr. Weil concluded, "With a strong management team in place and our
core strategies including expansion of instant ticket manufacturing
capacity through our planned year-end plant opening in China, the recently
completed integration of OGT, the success of the WAVE terminal in North
America and planned rollout in Italy, growth of multi-state and
multi-national licensed games like Deal or No Deal(TM) and Indiana
Jones(TM), performance of our Global Draw products for William Hill in the
UK and CIE in Mexico, and the recent announcement by the Commonwealth of
Pennsylvania regarding upcoming negotiations for a new online contract, all
progressing as planned, I am very excited about the Company's future."
About Scientific Games
Scientific Games Corporation is the leading integrated supplier of
instant tickets, systems and services to lotteries worldwide, a leading
supplier of server based gaming machines and systems, Amusement and Skill
with Prize betting terminals, 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 .
Company Contact:
Investor Relations
Scientific Games Corporation
212-754-2233
Forward-Looking Statements
Certain statements in this press release which are not historical facts
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements, including those
relating to timing of contracts, renewals or other events, business plans
and performance objectives, are based upon management's current
expectations, assumptions and estimates and are not guarantees of future
results or performance. Actual results may differ materially from those
projected in these statements due to a variety of risks and uncertainties
and other factors, including, among other things: competition; material
adverse changes in economic and industry conditions in our markets;
technological change; protection of intellectual property; security and
integrity of software and systems; laws and government regulation,
including those relating to gaming licenses, permits and operations;
seasonality; dependence on suppliers and manufacturers; factors associated
with foreign operations; failure to retain, renew or perform on contracts;
resolution of pending or future litigation; and other factors described
from time to time in our filings with the SEC, including our most recent
Annual Report on Form 10-K. 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.
SOURCE Scientific Games Corporation
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http://www.scientificgames.com
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CONTACT:
Investor Relations, Scientific Games
Corporation, +1-212-754-2233
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