The SciGames expiration is still a ?? to me. On the EGMI website, there is this 2007 press release:
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"NEW YORK – May 2, 2007 – Scientific Games (NASDAQ: SGMS) announced today that it has entered into a new exclusive agreement with Electronic Game Card, Inc. (OTCBB: EGMI). Scientific Games will have a 10-year license for the Electronic GameCard™ intellectual property for the worldwide lottery industry. That license will be exclusive in North America and Italy for at least the first three years. This agreement streamlines the sales and manufacturing process and replaces the previous joint venture that has been dissolved as part of the new contract.
“We see great potential in the future of hand-held electronic lottery games and the Electronic GameCard™ is a desirable and customer proven product in this new and expanding lottery category,” said Lorne Weil, Chairman and CEO of Scientific Games. “We consider ourselves a pioneer in the lottery industry, and plan on continuing to do so with successful products like the Electronic GameCard™”
The Electronic GameCard ™ is a pocket sized extended play digital instant lottery ticket. Each GameCard, is about the size of a driver’s license and no thicker than a three credit cards, but is battery powered and loaded with tons of multiple plays. The Electronic GameCard’s ™, electronic play replaces the traditional scratch play on the paper instant tickets. LCD screens on the front of the card display the symbols in a particular play and show whether it has won a prize. The GameCard then aggregates the players wining points that equates to a cash prize claimed like any other lottery instant ticket.
Both the Kansas and Iowa lotteries have offered the Electronic GameCard™ to their players and both resulted in extremely strong sales. After the first five weeks of sales, which totalled $1.1 million and indexed at 238, the Kansas Lottery re-ordered a full quantity of its $20, 80 plays, Electronic GameCards™ branded as Super Sevens.
“This new arrangement offers a win-win opportunity for both our companies as we each will be able to maximize the profitability of future ElectronicGameCard sales. Additionally, our company can now focus its resources on expanding the market for the GameCard into new areas, as Scientific Games devotes its attention to promoting the Electronic GameCard™ within its target Lottery markets,” said Roger Holdom, company spokesperson. “As the technology leader in the lottery industry, Scientific Games is the best possible partner for us, establishing credibility for our GameCard with their reputation for excellence and creativity.”
In 2005, the Public Gaming Research Institute (PGRI) named the EGC as the Lottery Product of the Year during its conference in Las Vegas. The PGRI award recognizes the importance of new products to the growth and continuing success of worldwide lotteries."
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It appears that the agreement continues for 10 years but was exclusive "for at least the first three years," which I infer would be about April 2010 or later. The only other termination reference that I've seen is in the 3rd Qtr 2008 CC of April 2011 -- which would be about 4 years since inception -- with further reference to potential renewal on unidentified conditions. I did not see the SciGames agreement referenced in the 10-K and I still haven't found any further details.
