NEW YORK, May 1 /PRNewswire-FirstCall/ -- Scientific Games (Nasdaq:
SGMS) announced today that it has acquired Oberthur Gaming Technologies,
another leading manufacturer of instant lottery tickets. Scientific Games
will pay approximately $100 million (approximately one-third of which is
attributable to U.S. assets), subject to certain adjustments. The Company
expects this acquisition to be neutral to 2007 earnings and accretive in
2008.
OGT reported revenues in 2006 of approximately $140 million (CAD). OGT
operates three instant ticket plants located in Montreal, Canada; Sydney,
Australia and San Antonio, Texas that have a total estimated capacity of
approximately 13 billion instant tickets (2" x 4" equivalents) per year.
Lorne Weil, Chairman and CEO of Scientific Games commented on the deal,
"OGT has a strong international presence in Canada and Australia, two
important gaming markets for Scientific Games. They also supply Francaise
Des Jeux, one of our most important European customers, and ONCE, a coveted
customer in Spain. We look forward to offering an increased array of
products and services to OGT's existing customers. OGT also has an
important portfolio of printing-related intellectual property, as well as
core competencies for extended play styles such as Bingo. Our goal is to
offer increased customer service, while simultaneously improving
efficiency, productivity and competitiveness through cost synergies. We
welcome OGT to the Scientific Games family."
Emmanuele Savare, former President and CEO of Oberthur Gaming
Technologies commented on the deal, "We think that this transaction is of
great benefit to our employees and to our customers and in the end, to the
entire lottery industry. This transaction will allow us to achieve
efficiencies in manufacturing, purchasing and distribution for the entire
benefit of our customers. The combined strengths of our companies will
allow us to offer our customers a considerably broader product offering
across the full breadth of lottery services than was possible in the past."
About Oberthur Gaming Technologies
With more than 35 years of lottery-specific expertise and over a
century's experience in the security printing industry, Oberthur Gaming
Technologies is a leader in the printing of innovative instant lottery
tickets. OGT currently supplies a full range of high quality products and
services to 100 clients in some 50 countries. The company has production
units or sales offices in Montreal, Canada; San Antonio, Texas; Atlanta,
Georgia; Philadelphia, Pennsylvania; Paris, France; Madrid, Spain; and
Sydney, Australia. For more information on OGT please visit
http://www.oberthurgt.com.
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, 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
(212) 754-2233
Forward-Looking Statements
In this press release we make "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements describe future expectations, plans, results or
strategies and can often be identified by the use of terminology such as
"may," "will," "estimate," "intend," "continue," "believe," "expect,"
"anticipate," "could," "potential," "opportunity," or similar terminology.
These statements are based upon management's current expectations,
assumptions and estimates and are not guarantees of future results or
performance. Actual outcomes 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; retention and renewal of existing contracts; availability and
adequacy of cash flow to satisfy obligations and indebtedness or future
needs; 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; dependence on key personnel; failure to perform on contracts;
resolution of pending or future litigation; labor matters; and stock price
volatility. 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 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
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Related links:
http://www.scientificgames.com
http://www.oberthurgt.com
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CONTACT:
Investor Relations, Scientific Games,
+1-212-754-2233
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