Scientific Games Corporation
| Type | Public |
|---|---|
| Traded as | NASDAQ: SGMS |
| Predecessor(s) | Autotote |
| Founded | July 2, 1984[1] |
| Key people | A. Lorne Weil (Chairman & CEO) |
| Website | scientificgames.com |
Scientific Games Corporation (NASDAQ: SGMS) is a New York City-based company that provides gaming solutions to lottery and gaming organizations worldwide. Products include instant lottery games, lottery gaming systems, terminals and service, and internet applications.
In December 2008, CEO A. Lorne Weil’s son Luke Weil was employed as Director, International Business Development,[2] as cynically predicted eighteen months earlier by the New York Observer.[3]
Contents |
[edit] Autotote
Scientific Games started out as Autotote Systems. By 2002, two thirds of the entire $20 billion annually wagered on racing in North America was tracked by Autotote Systems' computers. [4] Autotote supplied pari-mutuel wagering systems worldwide. These were automated, computerized off-track and on-track betting systems for betting on horse races and greyhound racing. It was an integrated system for off-track betting, keeping track of race results and winning tickets, and race simulcasting.
The security of Autotote software garnered media attention in 2002 when one of their software developers attempted to steal $3 million through a hole in their software and processes described as "... an example of a very simple exploitation of a rather stupid design flaw." [4] The role of Autotote's software in the 2002 Breeders' Cup betting scandal caused the National Thoroughbred Racing Association to take swift action in the face of a growing outcry once the nature of the scam emerged. It required all tote companies to modify their software to allow bets to be forwarded immediately after a race closed.[5]
The Autotote racing division was sold to Sportech PLC in 2010.[6]
[edit] See also
[edit] References
- ^ "Scientific Games: Investor Relations: Investor FAQ". http://phx.corporate-ir.net/phoenix.zhtml?c=64574&p=irol-faq. Retrieved 2012-02-18.
- ^ "SCIENTIFIC GAMES CORP - FORM 8-K - December 3, 2010". Washington, D.C. 20549: UNITED STATES SECURITIES AND EXCHANGE COMMISSION. December 3, 2010. http://www.faqs.org/sec-filings/101203/SCIENTIFIC-GAMES-CORP_8-K/. Retrieved 19 Feb 2012.
- ^ Morgan, Spencer (5/23/07). "Where’s Weil? Online Gambling Scion Will Summer in Tribeca Jail Cell". The New York Observer. http://www.observer.com/2007/where-s-weil-online-gambling-scion-will-summer-tribeca-jail-cell. Retrieved 19 Feb 2012.
- ^ a b Barrett, Larry (2002-12-01). "How Autotote Insider Rigged the System". Ziff-Davis Media. http://www.baselinemag.com/index2.php?option=content&task=view&id=3822&hide_ads=1&page=0&hide_js=1. Retrieved 2012-02-18.
- ^ Finley, Bill (2002-11-09). "Betting Inquiry Will Include F.B.I.". New York Times. http://www.nytimes.com/2002/11/09/sports/horse-racing-betting-inquiry-will-include-fbi.html?pagewanted=all&src=pm. Retrieved Feb 18, 2012.
- ^ Nowak, Dan (2010-10-07). "Sports Haven/Autotote has new owner". http://www.nhregister.com/articles/2010/10/07/sports/ootb100710100710.txt. Retrieved 2012-02-18.
[edit] External links
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