Leading provider of games, systems and services for casino, lottery and social gaming, Scientific Games Corporation (NASDAQ: SGMS) announced on Wednesday the five-year extension of its existing contract with the Louisiana Lottery Corporation, according to the official press release (pdf).
The Las Vegas-based provider has supplied the Lottery with instant products and services since 2005.
Terms of the deal:
Under the terms of the new agreement, the contract may be extended by the Lottery for five additional one-year terms upon the expiry of the new five-year deal.
The Lottery has benefited under its current contract with Scientific Games, with its annual fiscal game sales having swelled over 40 percent in the period from 2010 to 2018.
President of the Louisiana Lottery, Rose Hudson said…
“Scientific Games has proven to be a trusted partner and provider of instant games to the Louisiana Lottery.
“We have worked together successfully to maximize profits for K-12 public education in Louisiana. The Louisiana Lottery is very proud to rank second in the U.S. for percentage of lottery revenue transferred to the state,” added Hudson.
With the new contract in the books, players in Louisiana will be able to continue to enjoy instant games such as Power 5s, Make My Year and Triple Play from the world leader in gaming entertainment. Games themed to Louisiana culture and licensed properties such as CrawCash and JACKPOT PARTY are also provided by the company.
Each year, the government-run lottery introduces a suite of about 70 instant games at price points of $1, $2, $3, $5 and $10. The games are designed and manufactured by that company that is #1 in technology-based gaming systems, digital real-money gaming and sports betting platforms, casino table games and utility products and lottery instant games.
“strategic business support“
Senior Vice President, Instant Products for Scientific Games, John Schulz said…
“We take great pride in providing long-time, strategic business support to the Louisiana Lottery, helping them responsibly increase funds for their state beneficiaries.
“We look forward to continuing to provide Louisiana players with exciting and innovative instant games that support K-12 public education in Louisiana, as well as the Louisiana Department of Health and Hospitals-Office of Behavioral Health’s problem gambling programs,” said Schulz.
In fiscal year 2018, more than $171.9 million was transferred to the state treasury by the Louisiana Lottery, bringing its cumulative contributions to upwards of $3.5 billion. State transfers were up $12.7 million in fiscal year 2018 from the year prior and surpassed budget by a significant $17.7 million, according to the press release.