June 14, 2021

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Scientific Games (SGMS) Extends New Hampshire Lottery Deal

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Scientific Games SGMS and the New Hampshire Lottery recently announced extension of their current contract for six years. The deal includes the Scientific Games Enhanced Partnership (SGEP) program that targets creating maximum funding for educational programs in the state.

Per the latest deal, Scientific Games will provide the New Hampshire Lottery with instant game design, portfolio management services, technology-driven analytics and insights, game manufacturing, advanced logistics, and technologies to support inventory management and distribution.

The contract extension also includes Scientific Games’ sales force performance management software, gem|Intelligence.

Markedly, Scientific Games and the New Hampshire Lottery’s decade-old partnership has helped develop an instant game product portfolio that generated a record $295.5 million in retail sales in 2020. Markedly, the Lottery has contributed more than $2 billion to education, with instant games representing roughly 65% of its revenues.

Regular Contract Wins to Drive Prospects

Instant products have been a major source of revenues for Scientific Games, accounting for 63.1% of revenues in 2020. In first-quarter 2021, Instant products’ revenues came in at $162 million, up 20% year over year, driven by regular contract wins and expansion of its OpenGaming content library.
 

Scientific Games Corp Price and Consensus

Scientific Games Corp price-consensus-chart | Scientific Games Corp Quote

 

Markedly, last month, Scientific Games announced that it has signed a multi-year agreement with Pixiu Gaming to exclusively distribute the latter’s games in North American regulated markets through its OpenGaming ecosystem.

Moreover, Scientific Games announced that its agreement with Gaming Realms plc for the exclusive rights to offer the iconic SLINGO brand in lottery for instant, terminal-generated and drawing-based games, has been extended for four years in the North American, U.K., European, New Zealand and Australian markets.

Further, in April, Scientific Games announced the continued launch of iLottery games for Hungarian National Lottery, with additional go lives of eInstant games, expanding the company’s global digital lottery footprint to nearly 30 U.S. and international lotteries.

The company also announced the launch of its latest iGaming release, Perfect Potions Megaways. Markedly, this month, Scientific Games will launch its highly anticipated game Invaders Megaways – a feature-rich slot with quality graphics.

Accretive Acquisitions to Boost Top-Line Growth

Strategic acquisitions have been a key part of Scientific Games’ growth story over the years. Earlier acquisitions of Bally Technologies, WMS Industries, Parspro and Provoloto, BarcrestGroup Limited, Sceptre Leisure Solutions, and GameLogic have expanded the company’s ability to offer computerized systems and services to the global gaming industry.

In June 2020, SciPlay completed the acquisition of the privately held mobile and social game company Come2Play, which expanded and diversified the former’s existing portfolio of social games. The company plans to launch an additional casual game in 2022.

In May 2021, Scientific Games completed the acquisition of SportCast, a well-known provider of sports betting, thereby expanding its portfolio.

Zacks Rank & Other Stocks to Consider

Currently, Scientific Games has a Zacks Rank #2 (Buy).

Facebook FB, Digital Turbine APPS and Lam Research LRCX are better-ranked stocks in the broader technology sector. All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth rate for Facebook, Digital Turbine and Lam Research is pegged at 20%, 50% and 32.8%, respectively.

 

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