NEW YORK, May 1 /PRNewswire-FirstCall/ -- Scientific Games (Nasdaq:
SGMS) announced that it has formed a joint venture with a leading Chinese
technology company, Inspur, to launch instant tickets in the Shandong
Province of China. Shandong Province, among the largest and wealthiest in
China, has a population of approximately 92 million and is one of the China
Sports Lottery's top performing provinces.
The joint venture will be responsible for instant ticket game design,
marketing, warehousing, distribution, telemarketing, validation and
retailer selection and training. Revenues to the joint venture will be paid
as a percent of retail sales.
Lorne Weil, Chairman and CEO of Scientific Games commented on the deal,
"We are very enthusiastic about the potential for the Chinese lottery
market, especially instant tickets. Inspur is a great asset to us as a
local partner, with a robust history in Shandong, and we look forward to
launching Shandong as a model for instant ticket sales throughout the PRC.
In 2006, total lottery sales exceeded US$8 billion, representing a
year-on-year growth rate of nearly 50 percent, with online lottery
representing the vast majority of sales. We believe that the reintroduction
of instant tickets into the Chinese market will help guarantee the
continued explosive growth of the world's fastest growing lottery market."
Added Piju Sun, CEO of Inspur, "Scientific Games is the global leader
of the instant ticket business, and we look forward to bringing their
successful cooperative service model to the Shandong Province. Our joint
venture will look to quickly roll out a network of retailers throughout
Shandong that will sell China's most sophisticated and attractive instant
tickets with the highest level of security and integrity for the benefit of
the great causes supported by the China Sports Lottery."
About Inspur
Inspur Group is one of the earliest enterprises engaged in the
Information Technology (IT) industry in China, and also the largest
provider of IT applications and solutions in the PRC. Inspur Group has
three stock companies, "Inspur Information," "Inspur International," and
"Inspur Software," and many subsidiaries. Its business covers such
industries and fields as personal computers, servers, tax controlling
machines, communication products, information security, software
outsourcing, and other applications. Inspur is headquartered in Jinan of
Shandong Province and has three marketing and service centers located in
Beijing, Shanghai and Guangzhou.
About Scientific Games
Scientific Games Corporation is the leading integrated supplier of
instant tickets, systems and services to lotteries worldwide, a leading
supplier of fixed odds betting terminals 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
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," "anticipate," "could,"
"optimistic," "potential," "opportunity," "eventually," or the negatives
thereof, variations thereon or similar terminology.
These forward-looking statements are based upon management's current
expectations, assumptions and estimates and are not guarantees of future
results or performance. Actual outcomes may differ from those projected in
forward-looking statements due to a variety of risks and uncertainties and
other factors, including relating to the following:
-- 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;
-- economic, competitive, demographic, business and other conditions in
our local, regional and international markets;
-- changes or developments in the laws, regulations or taxes in the
gaming, racing and lottery industries;
-- actions taken or omitted to be taken by third parties, including
customers, suppliers, competitors 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;
-- an inability to enter into new contracts, renew existing contracts or
the early termination of our existing contracts;
-- an inability to engage in or complete future acquisitions and integrate
those businesses successfully;
-- 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.
Additional information regarding risks and uncertainties and other
factors that could cause actual results to differ materially from those
contemplated in forward-looking statements is included from to time in the
Company's filings with the Securities and Exchange Commission, including
the Company's reports on Forms 10-K, 10-Q and 8-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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Related links:
http://www.scientificgames.com
http://www.prnewswire.com/comp/117695.html/
CONTACT:
Investor Relations, Scientific Games
Corporation, +1-212-754-2233
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