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Scientific Games Intends To Redeem All Of Its Outstanding 9.25% Senior Subordinated Notes Due 2019

Stocks in this article: SGMS

NEW YORK, June 4, 2014 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) ("Scientific Games" or the "Company") announced today that its wholly owned subsidiary, Scientific Games International, Inc. ("SGI"), intends to redeem all of its outstanding 9.25% Senior Subordinated Notes due 2019 (CUSIP No. 80874YAG5) (the "Notes") on Friday, July 4, 2014 (the "Redemption Date").  The redemption price is equal to 104.625% of the principal amount of the Notes, plus accrued and unpaid interest to the Redemption Date. The Notes are expected to be settled in cash on Monday, July 7, 2014 in accordance with the terms of the indenture governing the Notes (the "Indenture").  A notice of redemption containing information required by the terms of the Indenture is being distributed by Deutsche Bank Trust Company Americas, the trustee under the Indenture.

The Company also announced that SGI received tenders and corresponding consents from the holders of $140,602,000, or approximately 40.2%, in aggregate principal amount of its outstanding Notes by the expiration of the early tender deadline, June 3, 2014, at 5:00 p.m. New York City time (the "Early Tender Deadline"), pursuant to its previously announced tender offer and consent solicitation.

SGI purchased the tendered Notes at a price of $1,021.25 (the "Tender Offer Consideration") for each $1,000 principal amount of Notes validly tendered and not withdrawn.  Holders who tendered their Notes and delivered consents before the Early Tender Deadline also received an early tender amount of $30.00 (the "Early Tender Amount") for each $1,000 principal amount of Notes validly tendered and not withdrawn, in addition to the Tender Offer Consideration.  Notes tendered before the Early Tender Deadline may not be withdrawn after the Early Tender Deadline. 

BofA Merrill Lynch is acting as the dealer manager and solicitation agent for the tender offer. Persons with questions regarding the tender offer may contact BofA Merrill Lynch toll-free at (888) 292-0070 or collect at (980) 388-3646. Global Bondholder Services Corporation is acting as information agent and depositary.  Any questions regarding procedures for tendering the Notes or requests for additional copies of the Offer to Purchase and the related Letter of Transmittal, which describe the tender offer and consent solicitation in greater detail and are available free of charge, may contact Global Bondholder Services Corporation toll free at (866) 470-3800 or collect at (212) 430-3774.

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