NEW YORK and CHICAGO, April 3, 2014 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) ("Scientific Games" or the "Company"), a leading diversified supplier of innovative content and technology to the gaming and lottery industries, announced today that Scott D. Schweinfurth has been promoted to Executive Vice President and Chief Financial Officer of the Company. He replaces Jeffrey S. Lipkin, who will help facilitate a seamless transition. Mr. Schweinfurth will continue to be based in the Chicago area.
"As we move forward in implementing our integration plans, we are firmly committed to continue to achieve organization efficiencies and cost reductions, and to improve our performance and cash flow," said David L. Kennedy, President and Chief Executive Officer. "Scott will provide strong financial and strategic leadership as we focus on optimizing our ongoing cost structure and improving efficiencies in our business and financial processes; and he will continue to lead our integration efforts. I believe we have the right people in the right positions to deliver the significant opportunities created by the combination of WMS with Scientific Games."
During his 13 years as WMS' Executive Vice President, Chief Financial Officer and Treasurer, Mr. Schweinfurth was an effective leader and collaborator who drove meaningful improved performance as WMS' revenue grew more than threefold and its market capitalization increased more than sixfold from 2000. From 1995 until joining WMS in 2000, he served as Senior Vice President, Chief Financial Officer and Treasurer of Bally Technologies. Previously, he had been at Ernst & Young for 18 years, serving the last six years as an audit partner. Mr. Schweinfurth, a registered certified public accountant, was recognized for his financial leadership by being named a Best CFO in the Gaming and Lodging industry by Institutional Investor Magazine from 2009 to 2011.