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|Scientific Games Acquires GameLogic Software and Related Assets|
NEW YORK, Aug 05, 2010 /PRNewswire via COMTEX/ --
Scientific Games Corporation (Nasdaq: SGMS) today announced that it has acquired substantially all the assets of GameLogic Inc., a provider of interactive marketing services for the U.S. regulated gaming industry, including GameLogic's software for internet-based loyalty programs for lottery players as well as an extensive suite of interactive games and other related intellectual property. Scientific Games has also hired several key members from the GameLogic development and marketing teams. Scientific Games intends to integrate the GameLogic assets with its existing Properties Plus(TM) business.
GameLogic, based in Waltham, Massachusetts, was founded in 2002 and developed a number of web-based loyalty programs for the casino industry before recently expanding its offerings to serve the needs of lotteries. GameLogic has a library of over 90 interactive games available for entertainment purposes or to award prizes, along with a complete lottery players club website and back-end infrastructure.
Scientific Games has been a leader in providing internet services to the lottery industry since 2001 when it offered the first second chance promotion entry website. Scientific Games has developed over 200 websites for lotteries over the years and has provided players clubs/loyalty services to several lotteries, including lotteries in Arkansas, Michigan, Massachusetts, Minnesota and Tennessee.
"The addition of the GameLogic assets and personnel is a key element in our strategy to develop robust internet-based players clubs," said Michael R. Chambrello, President and CEO of Scientific Games. "GameLogic takes Properties Plus(TM) to a new level as we now have the front end player engagement content and software to provide a robust, highly interactive and fun player experience, which is a necessary and attractive part of any VIP club."
"We plan to integrate GameLogic games and other site features into our current lottery players club sites using Scientific Games licensed brands and business models and pursue other business development opportunities in the U.S. and internationally consistent with applicable regulation. This acquisition, along with our Sciplay joint venture, puts us in a uniquely strong position to help lotteries take full advantage of the marketing potential of the internet."
About Scientific Games
Scientific Games Corporation is a 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 50 other countries.
Company Contact: Cindi Buckwalter, Investor Relations 212-754-2233
In this press release the Company makes "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 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; technological change; retention and renewal of existing contracts and entry into new or revised 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; inability to benefit from, and risks associated with, joint ventures and strategic investments and relationships; inability to complete the proposed sale of the racing and venue management businesses; seasonality; inability to identify and capitalize on trends and changes in the lottery and gaming industries; inability to enhance and develop successful gaming concepts; dependence on suppliers and manufacturers; liability for product defects; fluctuations in foreign currency exchange rates and other factors associated with foreign operations; influence of certain stockholders; 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 the Company's filings with the Securities and Exchange Commission, including under the heading "Risk Factors" in our periodic reports. Forward-looking statements speak only as of the date they are made and, except for the Company's ongoing obligations under the U.S. federal securities laws, the Company undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Scientific Games Corporation