he firm was selected following a competitive procurement process, as previously announced last October 28. The contract has a ten-year term ending October 2020. Revenue to Scientific Games is based on a percentage of instant ticket retail sales.
"With Scientific Games as our partner for the past six years, the Louisiana Lottery has experienced outstanding growth in scratch-off sales that have enabled us to fulfill our mission of maximizing revenue for K-12 public education," said Rose Hudson, Louisiana Lottery Corporation President. "We look forward to continuing to work with them to create exciting games that give our players added value for their entertainment dollar."
"This new award speaks strongly to the success we have experienced and the relationships we have built in Louisiana," commented Lorne Weil, Chairman and CEO of Scientific Games Corporation. "We believe this partnership with the Lottery will help to generate the maximum revenue for the state of Louisiana while upholding the highest standards of integrity and public trust."
In fiscal year 2010, the Louisiana Lottery generated us$ 372 million in retail sales, of which us$ 136 million were derived from instant ticket game sales. Since its inception, the Louisiana Lottery has transferred us$ 2.2 billion to the State Treasury to be used for the Minimum Foundation Program, which funds public education.