International Game Technology to Develop WWE Lottery Games
It’s a drawing royal rumble, as International Game Technology (NYSE:IGT) is teaming upward with the WWE (NYSE:WWE) to set in motion wrestling-themed drawing games.
The drawing manipulator and expansion slot machine producer said it signed a multi-year licensing arrangement with the WWE to develop and mete out lottery games featuring WWE branding with personalities from the rassling league and events, among others. Financial terms of the allot weren’t revealed.
IGT looks frontwards to melding the unique WWE assets with IGT’s drawing expertise to make appealing, high-quality games and second-chance promotional opportunities for our world-wide customers and their players,” said IGT COO John Jay Gendron inward a statement.
IGT didn’t say inwards which states or countries the WWE lottery products will follow available. But the company operates lotteries for dozens of states and nations out of doors the US. It’s also i of the largest providers of inst drawing and scratchers.
Themed Lottery Is Big Business
Theme lottery tickets are pop among consumers, and companies the like IGT proffer an mixture of such products. Those array from scratchers with holiday themes to items drawing off stirring from classic picture and plank games, such as Monopoly.
On a related note, last Nov IGT said it reached a multi-year licensing arrangement with Authentic Brands Group (ABG), the marketing and amusement troupe that controls the Marilyn President Monroe estate.
The company’s portfolio of inst lottery games includes Crossword Corners, Crossword Connect, Extended Bonus Play, Lucky Sweeps and event-based s chance drawings, among others.
While the WWE isn’t a athletics inward the traditional sense, there’s no more denying the entertainment company’s progress to and devoted devotee base. Unlike criterion domestic sports, the WWE delivers 52 weeks of programming each year, including pay-per-view events and scheduled telecasting programming.
The brandmark is also recognised on a worldwide stage, as it reaches nearly 1 one million million households and is broadcast inwards 28 languages.
Lottery Biz Is IGT Cash Generator
In September, IGT announced the conception of a dedicated digital and betting unit, and as noted above, the keep company is 1 of the dominant expansion slot political machine manufacturers. Some analysts trust investors shouldn’t turn a loss visual sense of the company’s lucrative drawing business.
In starting reportage of IGT endure month, Stifel psychoanalyst Jeffrey Stantial said the drawing concern isn’t getting the deferred payment it deserves and is under-appreciated among investors.
IGT’s drawing stage business remains deeply discounted comparative to public and M&A comps, with several catalysts to re-rate,” he notes. “IGT looks well-positioned to contend crosswise most high-profile development opportunities (iGaming, sports betting, iLottery, cashless), piece current valuation portrays IGT as solely a low-growth legacy provider.”
When properly managed, drawing businesses, including IGT’s, are usually profitable and can buoy bring forth sizable amounts of free cash in flow.