New York-listed supplier Scientific Games has won a ten-year contract to provide a new statewide gaming system for the Iowa Lottery.
The Iowa Lottery Authority Board voted 5-0 to award Scientific Games the contract to upgrade the lottery’s 2011 technology at 2,400 retail locations, with minimal disruption to game sales.
The ten-year contract may be extended by the lottery up to five additional years, with the new gaming system expected to implemented in the summer of 2021.
Scientific Games won the contract based on highest overall score and ability to maximize funding for the lottery’s beneficiaries. The supplier has been the Iowa Lottery’s gaming systems provider for the past 18 years, as well providing instant scratch games to the lottery.
Over the last eight years of the supplier’s current contract with the Iowa Lottery, the lottery experienced an $878m increase in total retail sales, equivalent to an average of $109m in growth per year.
“Scientific Games appreciates the trust the Iowa Lottery has placed in our company and our technology to continue supporting programs that help make Iowa a great place to live,” said Pat McHugh, lottery group CEO for Scientific Games. “We are also very proud that the hard work of our teams and ability to successfully align with lotteries’ business plans continues to position Scientific Games as the fastest growing lottery systems provider in North America.”
Scientific Games is currently working with the Iowa Lottery to finalize the contract and plan a seamless switch to the new technology.
As part of the new technology rollout, the Iowa Lottery will upgrade to an advanced gaming system, central communications network, retailer terminals, and player self-service kiosks.
Shares in Scientific Games Corporation (NSQ:SGMS) closed down 2.27 per cent to $7.32 per share in New York Tuesday.