Gaming Realms plc
("Gaming Realms", the "Company" or the "Group")
Gaming Realms signs land based gaming machine licensing agreement
Slingo IP agreement with Scientific Games Corporation
Gaming Realms announces that it has signed a strategic, five-year licensing agreement with Scientific Games Corporation (NASDAQ: SGMS), one of the leading providers of gambling products and services to lottery and gaming organisations. The gaming machine manufacturer will have exclusive rights to produce and distribute Slingo® branded slot machines to casinos and related properties on a worldwide basis.
Under the terms of the licence, Scientific Games will develop new slot games for traditional gaming machines, video lottery terminals, and on-property handheld devices. The agreement includes a minimum guaranteed royalty stream to Gaming Realms payable within the first two years. The agreement is an expansion of Scientific Games' existing licence to produce Slingo® branded scratch lottery tickets. This is one of the most successful licensing arrangements in the lottery industry, selling over $1 billion dollars' worth of tickets across 36 U.S States and three international markets.
Commenting on the agreement, Patrick Southon, CEO, said:
"Following on from the success of our printed lottery products partnership with Scientific Games, we are delighted with the opportunity to bring Slingo to slot machines in casinos around the world with a market leader."
The new licence is an important next step in Gaming Realms' long-term strategy to extend Slingo® into markets adjacent to the Group's core mobile gaming business, and comes on the back of the three-year social gaming agreement with Zynga Inc. announced in January this year. Both licences will deliver high-margin revenue streams over their respective periods.
Contacts:
Gaming Realms Patrick Southon, CEO Mark Segal, FD |
+44 (0) 845 123 3773 |
Cenkos Securities (Nomad and Broker) Max Hartley (Nomad) Julian Morse (Broker) |
+44 (0) 20 7397 8900 |
Yellow Jersey PR Charles Goodwin Aidan Stanley |
+44 (0) 7747 788 221 |
About Gaming Realms
Gaming Realms creates and publishes innovative real money and social games for mobile, with operations in the UK and U.S. Through its market leading mobile platform and unique IP and brands, Gaming Realms is bringing together media, entertainment and gaming assets in new game formats. The Gaming Realms management team includes accomplished entrepreneurs and experienced executives from a wide range of leading gaming and media companies.
About Scientific Games Corporation
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 utilities; 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 http://www.scientificgames.com
