LAS VEGAS, Oct. 3, 2017 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or "the Company") today announced it has entered into an agreement for the acquisition of Tech Art, the gaming industry's leading supplier of hole-card readers for blackjack. Subject to customary conditions to closing, the transaction is expected to close in the first quarter of 2018. Terms of the transaction were not disclosed.
Tech Art will bring to Scientific Games its innovative MAXTime® 4H product, a combination of a blackjack hole-card reader and a chip tray, as well as the proprietary table games Super Fun 21® and Bet the Bust. There will be an opportunity to market Tech Art's MAXTime® 4H product internationally through Scientific Games' expansive distribution network, helping casinos across the world increase play speed and enhance the security of blackjack games. This planned acquisition is another example of Scientific Games' continued investment in solutions that help the Company better partner with their casino customers and offer the broadest portfolio of innovative products in the industry.
About Scientific Games
Scientific Games Corporation (NASDAQ: SGMS) is a global leader in technology-based gaming systems, table games, table products and instant games and a leader in products, services and content for gaming, lottery and interactive gaming markets. Scientific Games delivers what customers and players value most: trusted security, creative content, operating efficiencies and innovative technology. Today, Scientific Games offers customers a fully integrated portfolio of technology platforms, robust systems, engaging content and unrivaled professional services. For more information, please visit http://www.scientificgames.com/.
About Tech Art
Tech Art, formed in 1989, is the preeminent provider of blackjack hole-card readers around the world. The company has a dominate market share in a field that they created with the invention of the MAXTime® device. This device provides ironclad game security when dealing blackjack and is in use on over 11,000 tables worldwide. For any further information please contact Tech Art at http://www.techartinc.com/
Scientific Games Investor Relations:
Bill Pfund +1 702-532-7663
Vice President, Investor Relations
Scientific Games Media Relations:
Susan Cartwright +1 702-532-7981
Vice President, Corporate Communications
Tech Art Investor and Media Relations
Robert Del Rossi +1 702-736-0637
This press release includes "forward-looking statements" and "forward looking information" (collectively "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," "estimate," "should," "could," "potential," "opportunity," or similar terminology. These statements are based upon management's current expectations, beliefs, assumptions and estimates and are not guarantees of timing, future results or performance. Similarly, statements herein that describe the proposed transaction, including its financial impact, and other statements of management's expectations, beliefs, assumptions, estimates and goals regarding the proposed transaction are forward-looking statements. It is uncertain whether any of the events or results anticipated by the forward-looking statements (including consummation of the proposed transaction) will transpire or occur, or if any of them do, what impact they will have on Scientific Games. These forward-looking statements involve certain risks and uncertainties and other factors that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: uncertainties as to the timing of the consummation of the proposed transaction and the ability of the parties to consummate the proposed transaction; the satisfaction of the conditions precedent to consummation of the proposed transaction; competitive responses to the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; the ability of Scientific Games to integrate Tech Art's business; the ability of Scientific Games to implement its plans and other expectations with respect to Tech Art's business after the completion of the transaction; and the other risks, uncertainties and important factors contained and identified (including under the heading "Risk Factors") in Scientific Games' filings with the Securities and Exchange Commission, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof and, except for Scientific Games' ongoing obligations under applicable securities laws, Scientific Games undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
View original content with multimedia:http://www.prnewswire.com/news-releases/scientific-games-to-acquire-tech-art-to-expand-its-table-game-portfolio-300529722.html
SOURCE Scientific Games Corporation