[May 13, 2005] South Carolina Education Lottery Exercises Option to Extend Online Scientific Games' Lottery Contract to November 2008 Tweet NEW YORK, May 13 /PRNewswire-FirstCall/ -- SCIENTIFIC GAMES CORPORATION announced that the South Carolina Education Lottery (SCEL) has exercised the final one-year option to extend Scientific Games' online lottery contract. The option is valued at $5.4 million and extends the contract until November 15, 2008. Scientific Games helped SCEL launch its new lottery in 2002. Since inception, the Lottery has generated over $2.8 billion in lottery sales and transferred over $798 million to the South Carolina Education Lottery Account. "We are very proud of our role in assisting SCEL these past three years and look forward to continuing to help maximize sales and generate more funds for education," said Lorne Weil, Chairman and CEO of Scientific Games Corporation. "SCEL has been a great success from the start and our top priority will be sustaining and building upon that foundation in a changing environment. The lottery is already a part of daily life in the Palmetto State and we want to make sure the product mix remains fresh and fun." Ernie Passailaigue, Executive Director of SCEL, added, "We have worked very closely with Scientific Games and have witnessed great results. We are confident that over the next few years Scientific Games will continue to be an excellent partner." About Scientific Games Scientific Games Corporation is the leading integrated supplier of instant tickets, systems and services to lotteries, and the leading supplier of wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut 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/. Forward-Looking Statements In this press release we make "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "estimate," "intend," "continue," "believe," "expect" or "anticipate," or the negatives thereof, variations thereon or similar terminology. These forward-looking statements generally relate to plans and objectives for future operations and are based upon management's reasonable estimates of future results or trends. Although we believe that the plans and objectives reflected in or suggested by such forward-looking statements are reasonable, such plans or objectives may not be achieved. Actual results may differ from projected results due, but not limited, to unforeseen developments, including developments relating to the following: * economic, competitive, demographic, business and other conditions in our local and regional markets; * changes or developments in the laws, regulations or taxes in the gaming and lottery industries; * actions taken or omitted to be taken by third parties, including customers, suppliers, competitors, members and shareholders, as well as legislative, regulatory, judicial and other governmental authorities; * changes in business strategy, capital improvements, development plans, including those due to environmental remediation concerns, or changes in personnel or their compensation, including federal, state and local minimum wage requirements; * the availability and adequacy of our cash flow to satisfy our obligations, including our debt service obligations and our need for additional funds required to support capital improvements, development and acquisitions; * an inability to renew or early termination of our contracts; * an inability to engage in future acquisitions; * the loss of any license or permit, including the failure to obtain an unconditional renewal of a required gaming license on a timely basis; and * resolution of any pending or future litigation in a manner adverse to us. Actual future results may be materially different from what we expect. We will not update forward-looking statements even though our situation may change in the future. Company Contact: Lisa D. Lettieri Scientific Games Corporation 212-754-2233 Scientific Games Corporation CONTACT: Lisa D. Lettieri of Scientific Games Corporation,+1-212-754-2233 Web site: http://www.scientificgames.com/ Company News On-Call: http://www.prnewswire.com/comp/117695.html [ Back To TMCnet.com's Homepage ]