Scientific games got the five-year contract being $ 4 million worth that gives the right to the Michigan Lottery to run a new progressive jackpot electronically linked bingo game. The new ELBG system will provide players with larger progressive jackpots and it will electronically link, as they say, approximately 600 bingo halls. The new system also means extra security and controlling abilities.
Here is what Lorne Weil, Chairman and CEO of Scientific games said about the contract: “Bingo brings important funding to the state of Michigan. We are looking forward to working with the Michigan Lottery and Charitable Gaming to introduce these game enhancements that will help to increase both revenues and attendance”.
Gary C. Peters, Commissioner of the State of Michigan Bureau of State Lottery claims: “Scientific Games submitted the strongest proposal for this new kind of game and I am eager for them to begin implementing it. I believe the legions of Michigan bingo players are going to love it”.
The Michigan Lottery has been donating money into educational system of Michigan for a long time. E. g. since 1973 it has contributed about $ 12, 9 billion to Michigan’s educational system, and in the past six years the sum reached $ 6 million.
Some words about Scientific Games
Scientific Games Corporation is considered to be a leading lottery supplier of instant tickets, systems and services, and the leading pari-mutuel operators’ supplier of wagering systems and services. Besides, it is a pari-mutuel gaming operator that is licensed to carry out its activities in Connecticut and the Netherlands and is a leading telephone companies’ supplier of prepaid phone cards. Scientific Games’ customers come from the United States and more than 60 other countries. For more details about Scientific Games, please visit our web site at http://www.scientificgames.com.
The company has issued the press release dealing with a series of forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 dedicated to future plans and objectives for future operations. The statements are based on management’s estimates of forthcoming results or trends. But there is an opinion that plans and objectives like these may not be achieved in spite of the fact that they are reasonable. The company, as it has been stated, may not achieve the final aim because of some unforeseen developments. They are limited to the following ones:
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.
The forward-looking statements issued by the company speak only of the date they are made. The company will not update any of them regardless of a result of new information, future event, etc.