NEW YORK -- (PRESS RELEASE) -- Scientific Games Corporation (SGMS) today announced that the Company has signed a contract with the Iowa Lottery Authority to supply instant ticket games and related services. The Company was selected following a competitive procurement process. The two-year contract, which started on January 1, 2013, includes options for the Lottery to extend the contract for four additional one-year periods. Revenue to Scientific Games will continue to be based on a price-per-thousand tickets basis.
"We have cultivated a great relationship with Scientific Games over the years, in both our lottery systems and instant ticket businesses," said Terry Rich, CEO of the Iowa Lottery Authority. "Scientific Games has helped us to achieve back-to-back record years of instant ticket sales and we are pleased we can continue this relationship in the hopes of raising more revenues for the citizens of Iowa."
"The Iowa Lottery is well recognized as one of the most innovative and forward-looking lotteries in the U.S.," commented Jim Kennedy, President of Printed Products and Chief Marketing Officer for Scientific Games. "We are proud to be chosen by the Iowa Lottery once again and are confident the instant games we produce together will be fun and exciting, while maintaining the highest standards of security and integrity."
In fiscal year 2012, the Iowa Lottery generated lottery sales of $310.9 million, of which $188.8 million was derived from instant ticket game sales. Since the Lottery's start in 1985, its players have won more than $2.9 billion in prizes while the Lottery has raised more than $1.4 billion for state programs that benefit all Iowans.
About Iowa Lottery
Since the Iowa Lottery's start in 1985, its profits have helped make Iowa a better place to live, work and raise a family. The Lottery provides entertainment and prizes to its players while at the same time raising billions of dollars for the state programs that benefit all Iowans. Through the years, Lottery funds have been used in a variety of ways to enhance the state, including projects to create new recreation areas, support research at Iowa's public universities, benefit Iowa veterans, develop new products and techniques for agriculture, and promote tourism. For that, the Iowa Lottery thanks its players. When you play the Lottery, Iowa wins.
About Scientific Games
Scientific Games Corporation is a global leader in providing customized, end-to-end gaming solutions to lottery and gaming organizations worldwide. Scientific Games' integrated array of products and services includes instant lottery games, lottery gaming systems, terminals and services, and internet applications, as well as server-based interactive gaming terminals and associated gaming control systems.
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