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| Vol. 34 No. 3-- Monday January 23, 2006 |
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Lottomatica Provides Additional information on the Operation of Acquisition of GTECH ROME, Italy (January 12, 2006) -- As per integration of the information issued in the press release dated January 10, Lottomatica communicates the following additional data regarding the operation of acquisition of GTECH Holdings Corp.. Financial information based on I/B/E/S consensus estimates:
It is to be underlined that GTECH Net Debt as of November 2005 (third quarter closing of the ongoing period) is equal to 112 million euro, converted in euros at the exchange rate equal to $/€ 1.205). The combination should create 2006-2010 cumulated synergies of approx. 80-100 million euro. The net savings will mainly due to minor costs relating to GTECH European operations, to the elimination of GTECH’s public status costs, and further savings in terms of capex. As far as Lottomatica dividend policy is concerned, the company announced that 2006 dividend expected (for the fiscal year 2005) will be in the range of €120 million. Furthermore, it is pointed out that the transaction will be performed by merger by incorporation in GTECH of Gold Acquisition Corp., a company incorporated under the laws of the State of Delaware. Gold Acquisition Corp is a wholly owned subsidiary of Gold Holding Co. also incorporated under the laws of the State of Delaware. Gold Holding Co. equity will be owned, upon completion of the merger, 75% by Lottomatica and 25% by a Luxembourg corporation, wholly owned by an Italian corporation, an indirect subsidiary of Lottomatica. Lottomatica reminds that completion of the transaction, which is expected to occur in mid-2006, is subject to, inter alia, receipt of financing, approval by GTECH shareholders (it is sufficient the positive vote of at least 50.1% of equity), regulatory approvals, receipt of contract assignment assurance from certain significant lottery customers, Lottomatica maintaining investment grade credit rating. Lottomatica announces that, following the company's press release on the acquisition of the U.S.-based lottery systems operator GTECH Holdings Corp., Standard & Poor's and Moody's Investors Service took the following rating actions.
Standard & Poor's Ratings Services placed its 'BBB' long-term and 'A-2' short-term corporate credit ratings on Lottomatica on CreditWatch with negative implications. Despite the deal's size, upon closing of the transaction and the related financing steps Standard & Poor's expects to lower its ratings on the enlarged Lottomatica by just one notch to 'BBB-/A-3', with a stable outlook. This will be conditional upon a successful closing of the acquisition financing, fully in line with the measures announced on January 10 by Lottomatica. Moody's Investors Service assigned its first time ratings to Lottomatica. The ratings are as follows:
The (P) provisional feature of the ratings will be removed upon closing of the transaction, subject to implementation of the contemplated capital structure and upstream guarantee as well as review of the final legal documentation. SOURCE: Lottomatica media release.. Scientific Games Awarded $19.5 Million Illinois Lottery Instant Ticket Contract NEW YORK, USA (January 17, 2006) -- Scientific Games Corporation (Nasdaq: SGMS) signed a three year contract with the Illinois Lottery for the supply of instant ticket games and related services. The contract took effect December 29, 2005, is valued at $19.5 million over the initial term of three years, and contains two one-year options to renew. Revenues to Scientific Games will now be based on a percentage of retail sales.
“The Illinois Lottery is one of the largest and most important in the United States,” said Scientific Games Chairman and CEO Lorne Weil. “Going to a new, long-term contract is a gratifying vote of confidence in Scientific Games. We’ve had a great working relationship in Illinois and look forward to helping the Lottery generate even more revenue for education in the Land of Lincoln.” “Scientific Games offered the best overall proposal with the most innovative game plan, plus substantial value-added services,” said Carolyn Adams, Superintendent of the Illinois Lottery. “As a Scientific Games customer we have come to expect the best in products and services.” Revenues from the Illinois Lottery are dedicated to the Illinois Common School Fund, for kindergarten through high school education. Since 1974, the lottery has contributed more than $12 billion to education in the state. About Scientific Games Scientific Games Corporation is the
leading integrated supplier of instant tickets, systems and services to
lotteries, and the leading supplier of wagering systems and services to
pari-mutuel operators. It is also a licensed pari-mutuel gaming operator
in Connecticut and the Netherlands and is a leading supplier of prepaid phone
cards to telephone companies. SOURCE: Scientific Games Corporation media
release. Lottery Commission Names Interim Head AUSTIN, Texas, USA (January 13, 2006) -- Anthony J. Sadberry today was named the acting executive director for the Texas Lottery Commission. Sadberry, a former Texas Lottery commissioner, will begin his term to head the $3 billion agency on Tuesday, January 17, with an annual salary of $114,996. There is no term limitation to Sadberry’s appointment as acting executive director.
“We’re pleased to offer this position to Mr. Sadberry, whom I’ve had the distinction of working with at this agency. It was my pleasure to serve with him on this commission,” said Texas Lottery Commission Chairman C. Thomas Clowe. “He brings an extensive history and knowledge with him in regards to this agency and we look forward to working closely with him.” Sadberry, appointed by former Governor Ann Richards, served on the Texas Lottery Commission from November 1993 until March 2001. He served as the commission chairman from October 1994 to May 1995. He is a graduate of the University of Texas at Austin and received his law degree from the Georgetown University Law Center in Washington, D.C. “I gladly and willingly accept the commissioners’ offer and I’m honored to serve in this capacity,” said Sadberry. “I have a strong feeling for this agency and its important role for the state. I look forward to working with the leadership here and will continue to work to the excellence the agency has experienced.” Deputy Executive Director Gary Grief, who has been leading the agency since July 2005, will return to his post effective Tuesday, January 17. For more information about the Texas Lottery, please visit the official Texas Lottery Commission Web site at http://www.txlottery.org. SOURCE: Texas Lottery media
release. NASHVILLE, Tennessee, USA (January 13, 2006) -- The Tennessee Education Lottery will transfer $72.2 million to the state’s Lottery for Education Fund for the quarter ending December 31, 2005, the highest return since sales began nearly two years ago.
The transfer will bring the total raised for education to $487.4 million, which includes $478.5 million for education programs such as HOPE Scholarships and pre-kindergarten programs, plus an additional $8.9 million raised for after-school programs. “We’ve nearly reached the half-billion-dollar mark, which is exciting news for students and families across the state,” said Rebecca Paul, CEO and President of the Tennessee Lottery. ”We’re pleased to be nearing our second anniversary with such strong momentum.” Additional details about the funds generated by the Lottery since inception include, for the period of January 20, 2004 through December 31, 2005:
Awards pledged to 57,133 students* through Jan. 3, 2006 (*According to the Tennessee Student Assistance Corp., these amounts will vary as certification rosters are completed.) $25 million has been earmarked for pre-kindergarten programs
The latest announcements from the Tennessee Lottery include:
The Tennessee Lottery began selling tickets on January 20, 2004. As of Dec. 31, 2005, the Lottery has raised more than $487 million to fund specific education programs, including college scholarships, pre-kindergarten and after-school programs. For more information, please visit www.tnlottery.com. SOURCE: Tennessee Lottery media
release. New Game Offers Largest Instant-Scratch Prize Pool Ever! DES MOINES, Iowa, USA (January 13, 2006) - The Iowa Lottery has released a new instant-scratch game that offers more chances for players to win big. The “$35 Million Cash Spectacular” has more than 1.4 million prizes for players to claim.
“We feel there is great sales potential for this game,” said Joe Hrdlicka, Vice President of Marketing. “This is the largest prize pool the Iowa Lottery has ever offered for an instant scratch game.” With a total of $35 million in prizes available, the top prize starts at $250,000. There are 40 prizes of $20,000 and 80 prizes of $10,000 also up for grabs. There are 1,400 multiple prizes of $1,000 and under to win. The game is now available at local retailers throughout Iowa. The $35 Million Cash Spectacular is a $10 game. If a player matches any of “their numbers” to any “winning number,” they win the prize shown for that play area. If they find a “star” symbol, they win the prize shown instantly. The overall odds of winning in the game are 1 in 3. Since the Iowa Lottery's inception in 1985, more than $1.9 billion has been awarded in prizes and more than $935 million has been raised for state programs. SOURCE: Iowa Lottery media release. SAZKA a.s. Presents a New Facility – Selling Module PRAGUE, Czech Republic (January 16, 2006) -- SAZKA a.s., which early in 2006 put into operation a more advanced on-line system of lottery and non-lottery operations, has recently installed another new facility: A new module has been put into operation in the terminal network today that makes it possible to sell different products. The selling module of SAZKA, a.s. uses bar codes and allows the on-line monitoring of the whole process, from order registration and processing, through acceptance and storage of goods to marketing and remittance. Business partners are now able by means of the module to better control the entire marketing process, get access to a wide range of unique marketing information, and adjust the sales to the actual customer priorities and demand.
The retail network of SAZKA, a.s., one of the largest in the Czech Republic, contains over 7,000 terminals in all regions of the country. The terminals are located in different selling points, such as tobacconist’s shops, newspaper stands, gas stations, post offices, hypermarkets and supermarkets, lottery shops, bars, clubs and restaurants, or in various stores and service centers (drugstores, electrical goods, refreshments, stationeries, groceries, sports articles, textile and other shops …). The selling module adds to the existing non-lottery activities of SAZKA, a.s., such as cell phone credit recharging (since 2002) and ticketing (since 2004). The annual volume of cell phone recharging through Sazka terminals amounts to ten billion Czech crowns, and in the Sazka Ticket network nearly 1.6 million tickets have already been sold. Other activities being prepared by SAZKA, a.s. in connection with the conversion of the central system and terminal network include, among others, invoice and money order payments and player loyalty programs. SOURCE: SAZKA, a.s. Georgia Lottery Raises $8 Billion for Education with Record-Breaking Sales and Transfer
ATLANTA, Georgia, USA (January 18, 2006) -- The Georgia Lottery Corporation (GLC) closed the books on the first half of fiscal year 2006 by announcing the largest second quarter sales and transfer to education in GLC history. Record-breaking first and second quarter transfers to the Lottery for Education Account in fiscal year 2006 will total more than $396 million – $15 million more than last year’s benchmark. This makes the first six months of fiscal year 2006 the most successful start in GLC history and brings the total raised for educational programs in the state of Georgia to more than $8 BILLION since the lottery’s inception in 1993. Fiscal year 2006 second quarter sales soared to a record high $794,549,307. “We are marking a significant milestone for Georgia’s students and families with the transfer of our $8 billionth dollar to education,” said Georgia Lottery President and CEO Margaret DeFrancisco. “Our achievements are a result of phenomenal work by Georgia Lottery employees and retail partners along with the support of our players.”
Since its first year, the Georgia Lottery Corporation has returned over $8 billion to the state of Georgia for education. All Georgia Lottery profits go to pay for specific educational programs including Georgia's HOPE Scholarship Program and Georgia's Prekindergarten Program. More than 900,000 students have received HOPE Scholarships, and more than 700,000 4-year-olds have attended the statewide, voluntary prekindergarten program. For more information, please visit the GLC Web site at: www.galottery.com. SOURCE: Georgia Lottery media
release. Missouri Lottery Celebrates 20th Anniversary
“We’ve come a long way since Jan. 20, 1986,” said Larry Jansen, executive director of the Missouri Lottery. “There have been many changes in the way we do business to make our products better and to make the Lottery more efficient.” Jansen, executive director of the Missouri Lottery, is one of several 20-year employees at the Lottery. He said although he is proud of the many accomplishments made through the years, he is most proud of the more than $2.5 billion in proceeds generated by the Lottery.
“Our goal has always been to raise money for the state and public education,” Jansen said. “It’s the reason the Lottery exists. Our $2.5 billion surely has made a difference.” Jansen noted that when the Missouri Lottery began in 1986, all proceeds went to the state’s General Revenue Fund. In 1992, Missouri voters approved an amendment to direct all Lottery proceeds to the Lottery Proceeds Fund to solely benefit public education. In addition to changes in where Missouri Lottery proceeds go, there have been many other improvements and efficiencies including an increase in the number and types of games offered, an increase in prize payouts and price points and changes in the way the Lottery does business. During the past 20 years, the percent of sales used to run the Lottery has dropped from 14 percent to 5 percent. “There are not many organizations whose operating costs are that low, and it is something we are very proud of,” said Jansen. Jansen noted one of the first changes the Lottery made was getting the restrictions removed on prize payouts. The maximum prize payout when the Lottery began was 45 percent. Now, the Lottery returns an average of 61.6 percent of sales as prizes. Another huge improvement was allowing the redemption of Scratchers tickets at any Missouri Lottery retail location. This change was made in June of 1994. “It was very inconvenient for players to have to go back to the same retail location to redeem a ticket,” said Jansen. “Not only is it easier now that tickets can be redeemed anywhere, but we also made ordering tickets, the delivery process and the accounting procedures easier for the retailers.” In addition to changes in proceeds and retailer operations, many changes have been made to benefit the players, such as higher prize payouts, adding a cash option on jackpot prizes, more drawings, easier ways to buy tickets and enter promotions, and a multitude of player services enabled by the Lottery’s Web site, molottery.com. To date, more than $8.5 billion has been generated in Lottery sales, and more than $4.8 billion in prizes have been won by players. “It will be a challenge to make the next 20 years as successful as the last 20,” said Jansen. For more information about the Lottery’s anniversary, including the new “Dream Draw Raffle” game, visit www.molottery.com. Missouri Lottery Quick Facts (to date)
Historical Comparison
SOURCE: Missouri Lottery. Norsk Tipping – Norway’s Millionaire Factory HAMAR, Norway (January 19, 2006) -- Since 1986 4147 Norwegians have won more than one million kroner on Norsk Tipping’s games (figures from 01.01.2005). Taking into consideration that the country has approximately 4.5 million citizens, it’s certainly no exaggeration to call Norsk Tipping a millionaire factory.
Lotto is the largest single “producer” of millionaires, creating in the region of 200 new “million +” winners annually. The largest individual prizes paid out so far have been in excess of 20 million kroner. The 3200 million winners in Lotto have shared a staggering 7,499,475,648. This represents average winnings of 2,343,586 kroner. In comparison, this is approximately the same sum as the total costs of the Winter Olympics at Lillehammer in 1994. Here is an overview of the various games:
TOTAL: 4147 millionaires SOURCE: Peer J. Svenkerud, Senior Vice-President, Corporate Affairs Norsk Tipping AS.
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JEFFERSON CITY, Missouri, USA
(January 19, 2006) -- What were you doing 20 years ago?
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