Key Developments For Scientific Games Corporation
Scientific Games Corporation (SGMS.O) (Nasdaq)
Scientific Games Corp. Receives Instant Ticket Contract In Philippines
Scientific Games Corp. announced it has been selected as the exclusive supplier of instant tickets, marketing services and validation systems to the Pacific Online Systems Corporation (Pacific Online) in the Philippines. The contract commenced September 2009, has an initial term of five years and includes a two-year contract extension option. The contract covers the national roll out of instant tickets in the Philippines after a successful market test. The Philippines is the world's 12th most populous country, with an estimated population of approximately 92 million people.
Scientific Games Corp. Announces Award Of Wisconsin Instant Ticket Contract
Scientific Games Corp. announced that it has been selected to supply instant tickets to the Wisconsin Lottery, upon completion of an open and competitive procurement process. The contract begins in November 2009, has an initial term of two years and includes three one-year mutual contract extension options. Revenue to Scientific Games is based on a price per thousand.
Scientific Games Corp. Announces Pricing Of $125 Million Of 9.25% Senior Subordinated Notes Due 2019
Scientific Games Corp. announced that its subsidiary, Scientific Games International, Inc., has priced an additional $125 million of its 9.25% Senior Subordinated Notes due 2019 at an issue price of 101.5%. The new notes will be equal in right of payment with, of the same series as, and vote as a single class on any matter submitted to holders of, Scientific Games International's existing $225 million aggregate principal amount of 9.25% senior subordinated notes due 2019. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the payment of a portion of its potential obligations in connection with any award of a new Italian instant ticket lottery concession (including potential upfront payment obligations), the funding of any future acquisitions, capital expenditures and/or the repayment or repurchase, through open market purchases or otherwise, of a portion of its outstanding indebtedness.
Scientific Games Corp. Announces Proposed Private Offering Of $125 Million Of Senior Subordinated Notes Due 2019
Scientific Games Corp. announced that its subsidiary, Scientific Games International, Inc. (Scientific Games International), intends to offer an additional $125 million aggregate principal amount of its 9.25% senior subordinated notes due 2019. The new notes will be equal in right of payment with, of the same series as, and vote as a single class on any matter submitted to holders of, Scientific Games International's existing $225 million aggregate principal amount of 9.25% senior subordinated notes due 2019. Scientific Games intends to use the net proceeds from the offering for general corporate purposes, which may include the payment of a portion of its potential obligations in connection with any award of a new Italian instant ticket lottery concession (including potential upfront payment obligations), the funding of any future acquisitions, capital expenditures and/or the repayment or repurchase, through open market purchases or otherwise, of a portion of its outstanding indebtedness.
Scientific Games Corp. CEO To Retire-Reuters
Reuters reported that Scientific Games Corp. said its Chief Executive Officer (CEO) would retire at the end of 2009. The Company said its Chief Executive Joseph Wright will retire but continue on the Board, and named Michael Chambrello as its new CEO.
