International Game Technology PLC (NYSE: IGT) disclosed that it has inked a multi-year licensing deal with Authentic Brands Group (ABG). As per the deal, IGT will be awarded special property licensing rights to create and disseminate Elvis Presley-themed lottery games throughout the United States and Canada.
Additionally, IGT will create turnkey second-chance promotions and thrilling detailed experiences for lottery clients and their players. ABG is a global brand advancement, advertising, and entertainment firm and proprietor of the Elvis Presley brand.
Shares of International Game Technology PLC (NYSE: IGT) shares were declined 5.83% as the firm has lost -1.15 during the trading session of Tuesday. International Game Technology PLC's share price went from a low point around $3.59 to briefly over $20.30 in the past 52 weeks, though shares have since pulled back to $18.56. IGT's market cap has stayed high, reaching $3.74 billion at the time of writing.
COO of IGT commented: “Elvis Presley is one of the most prominent pop culture icons of the 20th century, and IGT is thrilled to offer Elvis games to our clients and their participants.” On the other hand, Authentic Brands Group commented: “We're very happy to be working in partnership with IGT to build fun games for Elvis fans and lottery players alike.”