Scientific Games Inks Three-Year Extension with Florida Lottery, Boosting Education Funding
Florida Lottery and Scientific Games extend their prosperous business union.
In a move to bolster education funding in Florida, Scientific Games has sealed a three-year extension of its partnership with the Florida Lottery. This agreement will keep the game powerhouse supplying its robust products and advanced solutions.
Thursday's deal kicks off the third chapter in the more-than-three-decade-long relationship between the two entities. The collaboration was first forged back in 1988, making Scientific Games the exclusive supplier of scratch-off games to the state Lottery. In 1997, the partnership took a leap with the inclusion of world-leading instant game management.
The partnership has paid off big time. Sales from scratch-off games soared from an initial $584 million annually to a staggering $6 billion today, contributing significantly to Florida's educational programs.
John Schulz, President of Americas and Global Instant Products of Scientific Games, expressed his excitement about the new agreement. "The Florida Lottery's collaboration with Scientific Games has produced consistently top-tier Scratch-Off performance, significantly improving instant game profits for Florida's education," he said.
Meanwhile, John F. Davis, Secretary of the Florida Lottery, echoed similar sentiments. "Our goal is to optimize revenues for the betterment of public education in Florida, which has already surpassed the $48 billion mark," he explained. By extending the Scratch-Off games partnership with Scientific Games, Davis said they will continue helping millions of Florida students dream of higher education by keeping education funding within reach.
Under the extended agreement, Scientific Games will continue to offer the Florida Lottery its innovative retail solutions, including product planning, portfolio management, analytics, and retail optimization features. With these tools, the Lottery can streamline its operations, minimize out-of-stocks, and boost profitability - all while delivering an engaging gaming experience to consumers.
With Scientific Games powering about 70% of the global retail game sales, the company's signature touch can be felt in lotteries across the globe. Its advanced technologies are instrumental in maximizing instant game sales, thereby boosting the overall revenue of lotteries and augmenting the funding for various public good initiatives.
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Fun Fact:
In December 2021, Scientific Games was named a Great Place to Work for the second consecutive year in India. The accolade recognized the company's commitment to being a top employer in the region.
Enrichment Insights:
- The Enhanced Partnership Program is designed to drive growth in instant game sales by offering advanced retail solutions like SCiQ, a system that includes integrated digital menu boards, automated inventory management, and real-time sales analytics.
- The SG Tech Project is Scientific Games' initiative to donate refurbished technology to local schools, aligning with broader sustainability goals. The company has also been recognized for its environmental and educational initiatives in the Communitas Awards.
- Scientific Games plays a critical role in supporting government-sponsored lottery programs worldwide, generating substantial revenue for public good initiatives, such as education. By providing cutting-edge technology and services, the company helps lotteries like the Florida Lottery maximize their contribution to local communities.
- The three-year extension of Scientific Games' partnership with the Florida Lottery includes supplying advanced technology to enhance the lottery's operations, which may further boost instant game profits for Florida's education.
- Since 1988, when Scientific Games became the exclusive supplier of scratch-off games to the Florida Lottery, the sales from these games have increased from $584 million annually to $6 billion today, potentially impacting education funding significantly.
- By extending the Scratch-Off games partnership with Scientific Games, the Florida Lottery aims to continue contributing to the education of millions of Florida students, helping them aspire for higher education while keeping education funding accessible.
