This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NEW YORK and
Jan. 9, 2014 /PRNewswire/ -- Scientific Games Corporation (Nasdaq: SGMS) and Hasbro, Inc. (Nasdaq: HAS) today announced the successful execution of amendments to their long-term licensing agreements. The amended agreements provide Scientific Games with access to new channels of distribution, additional brands and extended geographic territories. The amendments expand the existing Scientific Games lottery and WMS Gaming slot machine license agreements to expand the brands for real-money internet wagering and to now include many Hasbro brands in social casino gaming channels of distribution. The agreements feature a number of popular Hasbro brands, including the MONOPOLY brand, one of the most well-recognized and successful licensed gaming entertainment brands in the world. The duration of these licensing agreements has also been extended from 2017 through 2020, with a potential additional three-year extension.
"Expanding our licensing agreements and working more comprehensively with one of our most valued licensees allows us to build on our strong brand presence in the lottery and casino gaming world," said
Mark Blecher, Senior Vice President, Digital Gaming and Corporate Development at Hasbro. "We've enjoyed a long and mutually rewarding relationship with both Scientific Games and WMS and their combination presents us with exciting opportunities as we centralize key brands with one licensee across multiple gaming distribution channels."
WMS and Scientific Games have independently had portfolio licensing agreements with Hasbro since 1997 and 2003, respectively. The MONOPOLY brand has been the number one licensed brand in the lottery industry and among the top licensed brands in slot machines during the course of these licenses. Under the expanded license agreements, Scientific Games has secured the rights to license a number of Hasbro brands, including the MONOPOLY brand, in the real-money internet wagering and social casino gaming channels of distribution. Scientific Games will gain access to additional Hasbro brands in these channels over the term of the agreement. Scientific Games has also secured the rights to license seven additional Hasbro brands for its slot machine portfolio and expanded the territories for its lottery licensing rights.