Scientific Games Corporation SGMS today announced that the Company has entered into a contract to be the primary supplier of instant ticket games and related services including game design, development and marketing for the New York Lottery. The Company was awarded this seven-year contract following a competitive procurement process, as previously announced on May 10, 2011, and final New York State approval was obtained on August 15, 2011.
Revenue to Scientific Games will continue to be earned on a price-per-thousand tickets basis; however, in the new contract, the Company will also receive a percentage of net sales less prizes for instant ticket game management and marketing, and will be entitled to earn incentive awards based on the lottery achieving benchmark levels of performance.
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