International Game Technology PLC (NYSE:IGT) has signed a multi-year licensing agreement with Authentic Brands Group (ABG) for the exclusive property licensing rights to develop and distribute Elvis Presley-themed lottery games in the U.S. and Canada.
Love Me Tender: In addition to using the King of Rock ‘n’ Roll’s name and likeness on instant tickets, draw-based games and mobile and interactive games, IGT stated it would also “develop turnkey second-chance promotions and exciting comprehensive experiences for lottery customers and their players.”
“Elvis Presley is one of the most influential pop culture icons of the 20th century, and IGT is excited to offer Elvis games to our customers and their players,” said Jay Gendron, IGT’s chief operating officer for lottery. “We are committed to bringing a robust, multi-channel and multi-jurisdictional program to the lottery community by extending this brand across all available platforms and territories.”
I Can’t Help Falling In Love With You: ABG is a brand development, marketing and entertainment company that owns the licensing rights to the Elvis Presley brand.
Although Elvis passed away in 1977, his star has yet to dim. According to Forbes, Elvis-related product sales generated $23 million in 2020, making him the fifth highest-earning deceased celebrity of last year; the total net worth would have been higher if the COVID-19 pandemic didn't force the closure and subsequent limited capacity reopening of Elvis' Graceland estate in Memphis, which generates an average of $10 million in tourist revenue annually.
Elvis-mania is also alive among deep-pocketed music lovers. The cherry-red Hagstrom Viking II electric guitar Elvis played in his classic 1968 television special is going up for auction on March 27 with a starting bid of $250,000. Last year, the 1942 Martin D-18 acoustic guitar he used in his 1950s concerts sold in auction in August for $1.32 million and Elvis’ seven-bedroom Los Angeles mansion he owned during the early 1970s sold in September for $30 million.
One has to wonder if an Elvis-inspired NFT is coming up next.
(Still the King. Photo courtesy PBS.)