New York-listed Scientific Games has been selected as the primary instant games provider to the Florida Lottery until 2027.
The new seven-year contract will see Scientific Games work with the Florida Lottery to generate up to $8.5 billion in funding for education in the state, continuing a 30-year partnership that has seen the lottery rank amongst the top five lotteries worldwide for instant game sales per capita.
The state lottery said it chose Scientific Games for its ability to continue to drive profits for the Florida Lottery with innovative, high-performing scratch-off games, advanced logistics and retailer optimization.
The contract, which may be extended by up to an additional seven years, will see the company provide its latest generation SciTrak Ultra suite of instant games management tools, SCiQ intelligent instant game retail ecosystem, analytics and insights, as well as continued use of licensed properties such as MONOPOLY and LOTERIA in scratch-off games.
"We set out to sign a contract that allows us to continue offering the best games possible at a cost-savings to the state," said Florida Lottery secretary Jim Poppell. "In collaboration with Scientific Games, the Lottery will continue to offer best-in-class Lottery products, emphasize our responsible gaming initiatives, and maximize revenues in support of Governor DeSantis' bold vision for education in our state."
Since 1997, Scientific Games Enhanced Partnership (SGEP) has powered the Florida Lottery's instant games to perform 52 per cent better than the lottery industry average, with a 10-year compound average growth rate of 122 per cen.
Scientific Games senior vice president for lottery instant products, John Schulz, commented: "We are pleased the Florida Lottery chose Scientific Games for our unique ability to grow profits to benefit so many students in the state of Florida. We will continue to provide our world class SGEP services to expertly manage the full lifecycle of the Lottery's instant games, as well as the great licensed brands that Florida players love."
Shares in Scientific Games Corporation (NSQ:SGMS) closed up 2.44 per cent at $20.17 per share in New York Friday.