Scientific Games Signs Massachusetts State Lottery Instant Ticket Contract
Thursday, October 25, 2012 at 05:53PM NEW YORK, Oct. 25, 2012 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) today announced that the Company has signed a contract to supply instant ticket games and related services to the Massachusetts State Lottery. The Company was selected following a competitive procurement process. The three-year contract, which started October 4, 2012, includes options for the Lottery to extend the contract for two additional one-year periods. Revenue to Scientific Games will continue to be based on a price-per-thousand tickets basis.
"The Massachusetts State Lottery has worked with Scientific Games since we started selling instant tickets nearly four decades ago, during which time they have consistently produced high quality products and met required performance outcomes," said Lottery Executive Director Paul Sternburg. "We are pleased to continue this partnership with Scientific Games as we work to maximize revenues returned to the Commonwealth and increase local aid dollars distributed to our 351 cities and towns."
"We are pleased to continue our relationship with the Massachusetts Lottery, which is well known as an industry leader and one of the top performing lotteries in the world," commented Jim Trask, President of Printed Products for Scientific Games. "Scientific Games strives to be the best in the industry and offer the best products to our customers. We are pleased that our bid received the highest scores in every evaluation category from an independent evaluation team at the highest per capita instant ticket lottery in the world."
In fiscal year 2012, the Massachusetts State Lottery generated lottery revenues of $4.7 billion, of which $3.3 billion was derived from instant ticket game sales, and returned over $981 million in net profit to the Commonwealth.