Scientific Games Acquires Red7Mobile, Industry Leader in Mobile and Interactive Casino Content
LAS VEGAS, July 10, 2017 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced the acquisition of Red7Mobile Ltd. ("Red7"), a Bristol, UK-based firm that designs, develops and delivers innovative and award-winning mobile and desktop casino games and sports apps for real-money gaming partners. The acquisition provides Scientific Games with access to a large portfolio of mobile and interactive game titles, including slot games, instant win/scratch cards, and table games.
In addition to game content, Red7 offers a range of sports betting solutions. Its flexible and dynamic sports middleware provides a robust, real-time platform for the development of a range of innovative UX and UI solutions for sports-book web and native apps. Through partnerships with some of the industry's leading sports feed and odds providers, Red7 provides the essential real-time feeds for in-play stats and betting solutions.
Red7 has existing game, platform and sports partnerships with many of the industry's leading online gaming and sports betting operators.
Scientific Games Group Chief Executive – Interactive Barry Cottle said, "The acquisition of Red7 and its highly creative, talented team is a very positive development in SG Interactive's growth story. Red7's portfolio of innovative games augments our entertaining game content and industry-leading intellectual property. We're also excited about their sports betting apps, which include a host of robust features that add excitement to the sports betting experience."
Scientific Games will employ all of Red7's staff in the firm's existing Bristol, England location, and will continue to fully support Red7's partnerships with online and sports betting operators through the Scientific Games network.
Cottle said, "Many of Red7's partners are also our partners, so we truly feel this is a win-win for all of our stakeholders. As we merge Red7's content into our extensive game library, we will expand our UK retail and digital portfolio and be able to deliver even more compelling game content for the global digital Real Money Gaming business."
Matt Hatch, Chief Executive Officer of Red7, said, "We are excited to be a part of Scientific Games, combining Red7's creativity, innovation, and award-winning games to deliver transformational player experiences to Scientific Games' real-money gaming partners around the globe."
Red7 Chief Technology Officer Adam Fox added, "Red7 has always focused on designing and producing some of the most innovative games and sports apps. Having access to Scientific Games' content, brands, and global network is a very exciting prospect for the Red7 team."
© 2017 Scientific Games Corporation. All Rights Reserved.
About Scientific Games
Scientific Games Corporation (NASDAQ:SGMS) is a leading developer of technology-based products and services and associated content for worldwide gaming, lottery and interactive markets. The Company's portfolio includes gaming machines, game content and systems; table games products and shufflers; instant and draw-based lottery games; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and interactive content and services. For more information, please visit ScientificGames.com.
COMPANY CONTACTS:
Investor Relations:
Scientific Games: Bill Pfund +1 702-532-7663
Vice President, Investor Relations
[email protected]
Media Relations:
Scientific Games: Susan Cartwright +702-532-7981
Vice President, Corporate Communications
[email protected]
Forward-Looking Statements
In this press release, Scientific Games makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may," "will," "estimate," "intend," "plan," "continue," "believe," "expect," "anticipate," "target," "should," "could," "potential," "opportunity," "goal," or similar terminology. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; U.S. and international economic and industry conditions, including slow growth of new gaming jurisdictions, slow addition of casinos in existing jurisdictions, and declines in the replacement cycle of gaming machines; ownership changes and consolidation in the gaming industry; opposition to legalized gaming or the expansion thereof; inability to adapt to, and offer products that keep pace with, evolving technology, including any failure of our investment of significant resources in our R&D efforts; inability to develop successful products and services and capitalize on trends and changes in our industries, including the expansion of internet and other forms of interactive gaming; laws and government regulations, including those relating to gaming licenses and environmental laws; dependence upon key providers in our social gaming business; inability to retain or renew, or unfavorable revisions of, existing contracts, and the inability to enter into new contracts; level of our indebtedness, higher interest rates, availability or adequacy of cash flows and liquidity to satisfy indebtedness, other obligations or future cash needs; inability to reduce or refinance our indebtedness; restrictions and covenants in debt agreements, including those that could result in acceleration of the maturity of our indebtedness; protection of our intellectual property, inability to license third party intellectual property, and the intellectual property rights of others; security and integrity of our products and systems and reliance on or failures in information technology and other systems; challenges or disruptions relating to the implementation of a new global enterprise resource planning system; failure to maintain internal control over financial reporting; natural events that disrupt our operations or those of our customers, suppliers or regulators; inability to benefit from, and risks associated with, strategic equity investments and relationships; failure to achieve the intended benefits of our acquisitions; incurrence of restructuring costs; implementation of complex revenue recognition standards or other new accounting standards; changes in estimates or judgments related to our impairment analysis of goodwill or other intangible assets; fluctuations in our results due to seasonality and other factors; dependence on suppliers and manufacturers; risks relating to foreign operations, including fluctuations in foreign currency exchange rates, restrictions on the payment of dividends from earnings, restrictions on the import of products and financial instability, including the potential impact to our business resulting from the affirmative vote in the U.K. to withdraw from the EU, and the potential impact to our instant lottery game concession or VLT lease arrangements resulting from the recent economic and political conditions in Greece; changes in tax laws or tax rulings, or the examination of our tax positions; dependence on key employees; litigation and other liabilities relating to our business, including litigation and liabilities relating to our contracts and licenses, our products and systems, our employees (including labor disputes), intellectual property, environmental laws and our strategic relationships; influence of certain stockholders; and stock price volatility.
Additional information regarding risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC, including the Company's current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on March 3, 2017 (including under the headings "Forward Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for Scientific Games' ongoing obligations under the U.S. federal securities laws, Scientific Games undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Scientific Games Corporation
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