IGT Signs Multi-Year Agreement with WWE for Exclusive Licensing Rights to Develop Omnichannel Lottery Games

Rhea-AI Summary

International Game Technology PLC (IGT) has signed a multi-year exclusive licensing agreement with WWE to develop and distribute WWE-branded omnichannel lottery games. This partnership aims to leverage WWE's broad appeal across various demographics while combining IGT's lottery expertise. Both companies expressed excitement about the collaboration, emphasizing its potential to enhance engagement with global customers and fans.

Positive

• Exclusive multi-year licensing agreement with WWE is expected to enhance IGT's lottery game offerings.
• Potential for increased customer engagement by combining WWE's brand appeal with IGT's gaming expertise.

Negative

• None.

LONDON, Jan. 6, 2022 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced that it has signed a multi-year exclusive licensing agreement with WWE (NYSE: WWE) to develop and distribute WWE-branded omnichannel lottery games and turnkey promotional programs featuring company logos, Superstars, events and programs. 

"The WWE brand has broad appeal that reaches diverse age groups and cultural demographics in many geographies," said Jay Gendron, IGT Chief Operating Officer, Lottery. "IGT looks forward to melding the unique WWE assets with IGT's lottery expertise to create appealing, high-quality games and second-chance promotional opportunities for our global customers and their players."

"IGT is the clear industry leader in the lottery and gaming space, and we look forward to collaborating by bringing our intellectual property to our fans and lottery games around the globe," said Alex Varga, WWE Vice President, Revenue Strategy & Development. "This is an exciting opportunity for us to continue to leverage the strong crossover between the WWE Universe and another segment of the gaming landscape."

For more information about IGT's lottery business, visit igt.com and follow IGT on LinkedIn.

About IGT
IGT (NYSE: IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.

About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, pay-per-view, digital media and publishing platforms. WWE's TV-PG programming can be seen in more than 900 million homes worldwide in 28 languages through world-class distribution partners including NBCUniversal, FOX Sports, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all live pay-per-views, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal's streaming service, Peacock, is the exclusive home to WWE Network.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the "Company") and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should," "shall", "continue," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2020 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

Contact:
Phil O'Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Francesco Luti, +39 06 5189 9184; for Italian media inquiries
James Hurley, Investor Relations, +1 (401) 392-7190

© 2022 IGT

The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.

All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive property of WWE and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners. © 2022 WWE. All Rights Reserved. Macho Man Randy Savage TM licensed by CMG Brands, LLC.

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SOURCE International Game Technology PLC

FAQ

What is the significance of IGT's deal with WWE?

IGT's deal with WWE allows the development of WWE-branded lottery games, which could enhance customer engagement and market reach.

When was the IGT and WWE licensing agreement announced?

The licensing agreement between IGT and WWE was announced on January 6, 2022.

How will the IGT-WWE partnership affect IGT's stock performance?

The partnership may positively impact IGT's stock performance by expanding its product offerings and attracting new customers.

What type of games will IGT develop with WWE?

IGT will develop omnichannel lottery games and promotional programs featuring WWE branding.

What are the ticker symbols for IGT and WWE?

The ticker symbol for International Game Technology is IGT, and for WWE, it is WWE.