Exhibit 99.1
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Company Contacts: Lisa D. Lettieri
Scientific Games Corporation
212-754-2233
MDI Entertainment, Inc.
860-527-5920
Media Contact: : Shelley Spector
Spector Associates, Inc.
212-943-5858
SCIENTIFIC GAMES AND MDI ENTERTAINMENT
MUTUALLY AGREE TO TERMINATE LETTER OF INTENT
NEW YORK, MAY 8, 2002, SCIENTIFIC GAMES CORPORATION (NASDAQ: SGMS) AND MDI
ENTERTAINMENT, INC. (OTC: LTRY.BB) announced today that they have mutually and
amicably terminated negotiations with respect to the previously announced
contemplated acquisition of MDI by Scientific Games. The announcement comes in
the wake of MDI's announcement of a proposal by International Capital Partners,
LLC to purchase 50% of MDI's outstanding common stock not owned by International
Capital Partners at $3.30 per share. Scientific Games and MDI continue to work
with each other pursuant to their strategic alliance agreement.
ABOUT SCIENTIFIC GAMES
Scientific Games Corporation is the leading integrated supplier of
instant tickets, systems and services to lotteries, and the leading supplier of
wagering systems and services to pari-mutuel operators. It is also a licensed
pari-mutuel gaming operator in Connecticut and the Netherlands and is a leading
supplier of prepaid phone cards to telephone companies. Scientific Games'
customers are in the United States and more than 60 other countries. For more
information about Scientific Games, please visit our website at
www.scientificgames.com.
ABOUT MDI ENTERTAINMENT, INC.
MDI's services include game and ticket design, merchandise prize
fulfillment, management of second-and third-chance draws, fully-staffed customer
service, coordination of winner travel & accommodations, advertising and
marketing support, consumer research and Internet marketing and advertising.
Currently, the company's portfolio of licensed lottery properties includes but
is not limited to NBA/National Basketball Association, Betty Boop(TM), Elvis
Presley(R), I Love Lucy(R), Magic 8 Ball(R), FIFA World Cup(R) Soccer, Universal
Studios Monsters(TM), SPAM(TM), Heroes of Space(TM), Louisville Slugger(R),
CMT(R), Wheel of Fortune(R), Jeopardy!(R), Harley-Davidson(R), The Hollywood
Sign(R) and Hollywood Walk of Fame(R) Ray Charles(R), Hollywood Squares(R),
TABASCO(R), Lionel, and NASCAR(R) race drivers including Jeff Burton(R), Mark
Martin(R), Matt Kenseth(R), and Bill Elliott(R). Our website is located at
www.mdientertainment.com.
SAFE HARBOR
This press release includes statements that constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This information involves risks and uncertainties
that could cause actual results to differ materially from the forward-looking
statements. For certain information regarding these risks and uncertainties,
reference is made to the respective Annual Reports on Form 10-K for the fiscal
year ended December 31, 2001 of Scientific Games and MDI Entertainment.
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