Scientific Games (Nasdaq: SGMS) announced today that it has completed the purchase of the online lottery assets of Swedish firm EssNet AB for 460 MSEK or approximately $60 million. The acquisition adds seven states in Germany, the national lotteries of Hungary and Norway, Golden Casket and Tattersall's Lottery in Australia, and other national lotteries, to its portfolio of customers. Essnet's 2005 online lottery revenues were approximately 314 MSEK or $40 million.
According to Scientific Games Chairman and CEO Lorne Weil, "The EssNet acquisition not only gives us some strong operations in Europe, especially Germany, but also an important foothold in Australia, one of the major gaming markets in the world."
EssNet operations will be integrated into the larger Scientific Games business over the next few months in a process expected to be completed in the second half of 2006.
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.
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.
Company Contact:
Investor Relations
Scientific Games Corporation
212-754-2233
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