NEW YORK, Sept. 26 /PRNewswire-FirstCall/ -- Scientific Games (Nasdaq:
SGMS) announced plans to close its plant in San Antonio, Texas, citing
adequate production capacity in its other plants worldwide. The plant was
acquired in May of 2007, as part of Scientific Games' acquisition of
Oberthur Gaming Technologies (OGT). The closing, which will affect
approximately 350 jobs in the San Antonio metro area, will take place in
stages and is expected to be completed by the end of the year.
Some of the plant's technicians and managers will be offered the
opportunity to relocate to other Scientific Games operations. For those
employees not offered relocation or who elect not to relocate, the company
will be providing an industry standard severance package, arrangements for
continuity of health insurance, and outplacement assistance to aid in their
search for new jobs.
"While we regret having to announce a plant closing, we are taking this
step as part of keeping our promise to customers to bring efficiencies and
best practices to them as part of this acquisition, and doing so before the
conclusion of the lease on the San Antonio plant in May of next year. We
are confident that this is a positive step forward for the business and our
customers in rationalizing our production operation to a single site in the
United States," said Michael Chambrello, President & COO of Scientific
Games.
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
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 and entry into new
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; inability to identify, complete and integrate future
acquisitions; 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
 back to top
Related links:
http://www.scientificgames.com
http://www.prnewswire.com/comp/117695.html/
CONTACT:
Investor Relations of Scientific Games,
+1-212-754-2233
|
