Las Vegas-based gambling company, Scientific Games Corporation (NASDAQ: SGMS), has expanded its longtime relationship with Santa Casa da Misericórdia de Lisboa (“SCML”) after being awarded a new instant games contract by the Portuguese charitable organization.
The fourth-largest instant games operator in Europe, SCML serves as the national lottery and retail betting operator in Portugal and according to La Fleur’s 2021 World Lottery Almanac the Lisbon-based corporation, which is overseen by the Ministry of Social Affairs (Ministério do Trabalho, Solidariedade e Segurança Social) ranks among the Top 20 performing lotteries worldwide.
The Lottery’s instant games reportedly represent some $1.9 billion (USD) in retail sales annually.
Contract details:
Further building on its successful partnership, the new, three-year agreement makes Scientific Games the exclusive supplier of instant games to players in the southern European country. Players will now be able to access the provider’s portfolio of lottery instant games comprising “innovative designs, playstyles, themes and price points.”
“Pleased” to award the new instant games contract to Scientific Games, Dr. Edmundo Martinho, Provedor da Santa Casa da Misericórdia de Lisboa, commented on the significance of the parthership…
“Our long history with the company provides an excellent foundation to continue the responsible growth of SCML instant game entertainment to generate maximum funding benefitting our charitable causes.”
Enhanced partnership:
The new agreement expands a partnership that began in 1995 when the Portuguese national lottery launched. At that time, Scientific Games, via legacy companies, began providing instant games called, RASPADINHA, to SCML, which significantly contributed to the product’s decades of success.
Using an official company press release, Senior Vice President, Instant Products for Scientific Games, John Schulz said…
“We are honored to be the primary instant game supplier to Europe’s top four performing lotteries and nine of the top 10 performers globally. Scientific Games is excited to expand our longtime, successful relationship with SCML in Portugal to continue the Lottery’s growth by offering exciting instant game entertainment to Portugese players while responsibly generating maximum proceeds for the Lottery’s charitable cause.”
Global supplier:
The Nevada company currently supplies its instant games to 48 European lotteries including National Lottery, United Kingdom; Française des Jeux (FDJ Loto), France; and Lotterie Nazionali, Italy; each of which is a Top 20 performer globally.
New York-listed Scientific Games boasts launching the world’s very first “secure retail instant game” in 1974 and the U.S.‘s first digital instant games in 2014, and according to the company, provides its games, technology and services to 150-plus lotteries globally. Its products are reportedly responsible for in excess of 70 percent of U.S. instant game worldwide retail sales.
Recent performance:
After reporting a loss of 16 cents per share for first-quarter 2021, shares in Scientific Games, according to Chicago-based investment research firm, Zacks Equity Research via Yahoo news, have added approximately 36.8 percent from May 10, Q1 2021 results (pdf) to early June, outperforming the S&P 500. Meanwhile, on market close, Thursday, June 24th, shares were -0.04 (0.05 percent) at $78.10, after earlier yesterday setting a new 52 week high of $79.98 per share.
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