In a strategic move aimed at reinforcing their position in the ever-evolving iGaming landscape, International Game Technology has successfully secured an exclusive 10-year licensing deal with Sony Pictures Television for the iconic Wheel of Fortune brand.
IGT, a global leader in gaming, announced this significant agreement on the 5th of June 2023, extending their exclusive rights until 2034. This noteworthy deal encompasses gaming, lottery, iGaming, and iLottery, bolstering the firm’s portfolio and potential for increased returns.
A Partnership Wheel Worth Spinning
IGT and Sony Pictures Television have fostered a mutually beneficial relationship for over a quarter of a century. This fresh decade-long deal ensures that Wheel of Fortune themed games will continue to thrill casino and lottery players worldwide.
“We’ve delivered a diverse portfolio of Wheel of Fortune games that has set the industry standard for innovation,” said Renato Ascoli, IGT CEO, Global Gaming. The partnership also maintains the non-exclusive rights for IGT to distribute Wheel of Fortune content for free-to-play social casinos.
The Wheel of Fortune slots, since their inception over 25 years ago, have become the most successful slot theme of all time. They’ve been responsible for paying out more than $3.5 billion in jackpots and have transformed over 1,100 lucky players into millionaires. Such success stories have kept this brand at the forefront of the industry, ensuring its popularity continues to skyrocket.
Implications for the iGaming Industry
- Increasing Brand Integration: The success of IGT’s licensing deal showcases the potential for other gaming companies to leverage well-known brands, creating unique gaming experiences that resonate with players on a deeper level.
- Consistent Innovation: The enduring popularity of Wheel of Fortune-themed games underlines the importance of innovation in the iGaming and iLottery industry. Companies must continue to innovate to keep players engaged and maintain their market position.
- Strategic Partnerships: IGT’s long-standing partnership with Sony Pictures Television underscores the importance of strategic partnerships in expanding a company’s reach and creating new growth opportunities. Such collaborations are likely to increase as businesses aim to strengthen their global presence.