International Game Technology PLC Announced that its Subsidiary has Signed a License Agreement for Life is Good® Lottery Products
LONDON, Feb. 10, 2016 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced that its subsidiary IGT Global Solutions Corporation has entered into a multi-year licensing agreement granting it the property licensing rights to the Life is Good brand. The agreement is effective as of December 18, 2015 and gives IGT the rights to develop and distribute Life is Good lottery products throughout North America, including instant scratch games, interactive online e-instant games, and draw-based games.
"IGT is pleased to partner with a positive lifestyle brand, Life is Good, a company that shares our passion for giving back to the community and generating funds for good causes," said Michael Chambrello, Chief Executive Officer, North America Lottery. "We are looking forward to bringing customers a robust Life is Good lottery program that will support the Life is Good mission – to spread the power of optimism and help kids in need. It is an honor to partner with a company that is so focused on doing good, and we are excited to grow that good together."
"Life is Good is looking forward to working with IGT in developing a strong lottery program that is aligned with our work to help kids by funding educational programs. We find tremendous value in partnering with companies that share our vision and give back to the community," said Bert Jacobs, Chief Executive Optimist at Life is Good. "We're confident we have selected the right partner in IGT based on their commitment and support of our mission."
IGT (NYSE:IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise, and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and we create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 13,000 employees. For more information, please visit www.IGT.com.
About The Life Is Good Company
The Life is Good Company spreads the power of optimism and donates 10 percent of its net profits to help kids in need. The company has raised more than $11 million for kids in need to date, principally through Life is Good products, events, and community fundraising efforts. Life is Good® is a registered trademark of The Life is Good Company. Please visit LifeisGood.com for more details and follow Life is Good on Twitter, Facebook and Instagram.
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 IGT 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 IGT 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 are subject to various risks and uncertainties, many of which are outside IGT'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 the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) risks that the businesses of International Game Technology and GTECH S.p.A. will not be integrated successfully, or that the combined companies will not realize estimated cost savings, synergies, growth or other anticipated benefits or that such benefits may take longer to realize than expected; risk that the Company will be unable to pay future dividends to shareholders or that the amount of such dividends may be less than anticipated; risks relating to unanticipated costs of integration of the two companies; reductions in customer spending; a slowdown in customer payments and changes in customer demand for products and services; unanticipated changes relating to competitive factors in the industries in which the company operates; ability to hire and retain key personnel; the potential impact of the consummation of the business combination on relationships with third parties, including customers, employees and competitors; ability to attract new customers and retain existing customers in the manner anticipated; reliance on and integration of information technology systems; changes in legislation or governmental regulations affecting the company; international, national or local economic, social or political conditions that could adversely affect the company or its customers; conditions in the credit markets; risks associated with assumptions the company makes in connection with its critical accounting estimates and legal proceedings; and the company's international operations, which are subject to the risks of currency fluctuations and foreign exchange controls. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect IGT's business, including those described in IGT's annual report on Form 20-F for the financial year ended December 31, 2014 and other documents filed from time to time with the Securities and Exchange Commission (the "SEC"), which are available on the SEC website at www.sec.gov and on the investor relations section of IGT's website at www.IGT.com. Except as required under applicable law, IGT does not assume any obligation to update the forward-looking statements. Nothing in this news release is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per IGT share for the current or any future financial years will necessarily match or exceed the historical published earnings per IGT share, as applicable. 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 IGT, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
Robert K. Vincent, Corporate Communications, toll free in U.S./Canada (844) IGT-7452; outside U.S./Canada (401) 392-7452
James Hurley, Investor Relations, (401) 392-7190
Simone Cantagallo, (+39) 06 51899030; for Italian media inquiries
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SOURCE International Game Technology PLC