IGT Wins Rights for Marilyn Monroe Lottery Tickets, Scores iGaming Deal
Posted on: November 2, 2021, 11:02h.
Last updated on: November 2, 2021, 11:57h.
International Game Technology (NYSE:IGT) is extending a brisk pace of adding new business, as the slot machine manufacturer said it’s adding fresh iGaming and lottery accords to its portfolio.
Late Monday, IGT said it notched a multi-year licensing agreement with Authentic Brands Group (ABG), the marketing and entertainment company that controls the Marilyn Monroe estate. With that pact, IGT can develop and distribute Marilyn Monroe-themed lottery games, including instant tickets.
In addition to compelling instant tickets, innovative draw-based games and engaging mobile and interactive games, IGT will develop exciting and comprehensive experiences for lottery customers and their players,” according to a statement.
Monroe was one of the most famous actresses of her generation, and also known for an interesting personal life that included a brief marriage to former New York Yankees star Joe DiMaggio, dating Frank Sinatra, and an alleged affair with President John F. Kennedy. She died in 1962 but remains popular, as highlighted by a following of nearly 15 million across various social media platforms.
Theme lottery tickets are popular among consumers, and companies like IGT offer an assortment of such products, ranging from scratchers with holiday themes to those drawing inspiration from classic video and board games, such as Monopoly.
The financial terms of IGT’s agreement with ABG weren’t disclosed.
IGT Bolsters iGaming Footprint
Separately, the maker of the famed Wheel of Fortune slot machine said it signed a multi-year iGaming content distribution agreement with leading online gaming content creator, Yggdrasil Gaming.
Financial terms of that accord weren’t revealed. But IGT expects to feature the first Yggdrasil game on its platform in December 2021. Under the terms of that deal, IGT gets access to select Yggdrasil games to distribute in Canadian provinces and US states where iGaming is permitted.
The agreement with Yggdrasil comes less than two months after IGT announced the creation of a dedicated digital and betting unit. Forming a dedicated outfit for those units could be well-timed because the move is occurring at a moment of exponential growth in those industries.
Internet casinos are widely viewed as offering more growth potential and higher margins than sports wagering. Wall Street is bullish on that emerging corner of the gaming industry, citing increasing revenue and client participation in states such as Michigan, New Jersey, and Pennsylvania.
Busy Stretch for IGT
London-based IGT is in the midst of a torrid pace of winning new agreements. Prior to the announcements of the Marilyn Monroe lottery accord and the deal with Yggdrasil Gaming, IGT said yesterday it’s entering Puerto Rico’s sports betting market through an arrangement with The Stadium LLC.
That company runs the territory’s top pro baseball league and has exposure to the esports market, too.
Last week, IGT said it’s bringing its PlayCasino platform to the Netherlands. The stock is up 88.25 percent year-to-date, good for one of the best showings in the industry.
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