LAS VEGAS, Feb. 23, 2017 /PRNewswire/ -- Scientific
Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the
"Company") today announced that the Company granted an inducement
equity award in accordance with NASDAQ Listing Rule 5635(c)(4)
pursuant to an employment arrangement with Scientific
Games' newly appointed Chief Operating Officer and President
KJ Tjon on February 13, 2017.
As disclosed by Scientific Games in a Form 8-K filing
with the Securities and Exchange
Commission on February 17, 2017, the Company granted Ms.
Tjon 100,000 restricted stock units that will vest subject to
achievement of specified performance hurdles measured over a
three-year performance period ending December 31, 2019.
The inducement grant was approved by Scientific
Games' Compensation Committee and was made as an inducement
material to Ms. Tjon's acceptance of employment with the Company in
accordance with NASDAQ Listing Rule 5635(c)(4).
© 2017 Scientific Games Corporation. All Rights
Reserved.
About Scientific Games
Scientific Games Corporation (NASDAQ: SGMS) is a leading
developer of technology-based products and services and associated
content for worldwide gaming, lottery and interactive markets. The
Company's portfolio includes gaming machines, game content and
systems; table games products and utilities; instant and draw-based
lottery games; server-based lottery and gaming systems; sports
betting technology; loyalty and rewards programs; and interactive
content and services. For more information, please visit us at
www.scientificgames.com.
Company Contacts
Investor Relations:
Bill Pfund (702) 532-7663
Corporate Communications:
Susan Cartwright (702) 532-7981
Forward-Looking Statements
In this press
release, Scientific Games makes "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," "target," "should,"
"could," "potential," "opportunity," "goal," or similar
terminology. These statements are based upon management's current
expectations, assumptions and estimates and are not guarantees of
timing, future results or performance. Therefore, you should not
rely on any of these forward-looking statements as predictions of
future events. Actual results may differ materially from those
contemplated in these statements due to a variety of risks and
uncertainties and other factors, including, among other things:
competition; U.S. and international economic and industry
conditions, including slow growth of new gaming jurisdictions, slow
addition of casinos in existing jurisdictions, and declines in the
replacement cycle of gaming machines; ownership changes and
consolidation in the gaming industry; opposition to legalized
gaming or the expansion thereof; inability to adapt to, and offer
products that keep pace with, evolving technology, including any
failure of our investment of significant resources in our R&D
efforts; inability to develop successful products and services and
capitalize on trends and changes in our industries, including the
expansion of internet and other forms of interactive gaming; laws
and government regulations, including those relating to gaming
licenses and environmental laws; dependence upon key providers in
our social gaming business; inability to retain or renew, or
unfavorable revisions of, existing contracts, and the inability to
enter into new contracts; level of our indebtedness, higher
interest rates, availability or adequacy of cash flows and
liquidity to satisfy indebtedness, other obligations or future cash
needs; inability to reduce or refinance our indebtedness;
restrictions and covenants in debt agreements, including those that
could result in acceleration of the maturity of our indebtedness;
protection of our intellectual property, inability to license third
party intellectual property, and the intellectual property rights
of others; security and integrity of our products and systems and
reliance on or failures in information technology and other
systems; challenges or disruptions relating to the implementation
of a new global enterprise resource planning system; failure to
maintain internal control over financial reporting; natural events
that disrupt our operations or those of our customers, suppliers or
regulators; inability to benefit from, and risks associated with,
strategic equity investments and relationships; failure to achieve
the intended benefits of our acquisitions; incurrence of
restructuring costs; implementation of complex revenue recognition
standards or other new accounting standards; changes in estimates
or judgments related to our impairment analysis of goodwill or
other intangible assets; fluctuations in our results due to
seasonality and other factors; dependence on suppliers and
manufacturers; risks relating to foreign operations, including
fluctuations in foreign currency exchange rates, restrictions on
the payment of dividends from earnings, restrictions on the import
of products and financial instability, including the potential
impact to our business resulting from the affirmative vote in the
U.K. to withdraw from the EU, and the potential impact to our
instant lottery game concession or VLT lease arrangements resulting
from the recent economic and political conditions in Greece; changes in tax laws or tax rulings, or
the examination of our tax positions; dependence on key employees;
litigation and other liabilities relating to our business,
including litigation and liabilities relating to our contracts and
licenses, our products and systems, our employees (including labor
disputes), intellectual property, environmental laws and our
strategic relationships; influence of certain stockholders; and
stock price volatility.
Additional information regarding risks, uncertainties and other
factors that could cause actual results to differ materially from
those contemplated in forward-looking statements is included from
time to time in our filings with the SEC, including the Company's
current reports on Form 8-K, quarterly reports on Form 10-Q and its
latest annual report on Form 10-K filed with the SEC on
February 29, 2016 (including under
the headings "Forward Looking Statements" and "Risk Factors").
Forward-looking statements speak only as of the date they are made
and, except for Scientific Games' ongoing obligations under the
U.S. federal securities laws, Scientific Games undertakes no
obligation to publicly update any forward-looking statements
whether as a result of new information, future events or
otherwise.
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SOURCE Scientific Games Corporation