Scientific Games (Amex:SGM) announced today a five-year extension of its contract with Woodbine Entertainment. The contract is worth about $10 million.
The company, through its subsidiary, Autotote Systems, maintains 1,700 wagering terminals for Woodbine Racecourse and Mohawk Racetrack near Toronto. The agreement also provides for the two companies to pursue joint research and development projects.
"We are looking forward to working with Woodbine Entertainment to create the most up to date racetrack and off-track network in North America," said Brooks Pierce, president of Autotote Systems. "Our latest technology will allow horseracing fans to bet in whatever way they feel most comfortable--at their seats, walking around or at the window."
David Willmot, chairman and chief executive officer of Woodbine Entertainment, said the contract was extended because Autotote's system had proven itself over the past nine years.
"The equipment upgrades for Woodbine and Mohawk Racetracks and our entire wagering network, including Champions Teletheatres and HorsePlayer Interactive, will provide a significant benefit to our customers," Willmot said.