WWE Go into the Lottery Business

WWE Go into the Lottery Business

World Wrestling Entertainment (WWE) isn’t just about in-ring action. The company makes millions of dollars every year in many other ways. They’ve just signed a multi-year licensing agreement with International Game Technology (IGT). This will see them working on developing omnichannel lottery games that have a WWE theme.

In addition to this, IGT will also be distributing the games produced. There will also be promotional programmes, and these will include the WWE logos, superstars (as WWE like to call their wrestlers) and events.

WWE vice president of revenue strategy and development is Alex Varga. Talking about the deal he said: “IGT is the clear industry leader in the lottery and gaming space, and we look forward to collaborating by bringing our intellectual property to our fans and lottery games around the globe.”

Exciting Opportunity for the WWE Universe

He added that this is an “exciting opportunity” for WWE to “continue to leverage the strong crossover between the WWE Universe (a term they use for their fans) and another segment of the gaming landscape.”

WWE seem to have chosen excellent partners for this new venture. Last year saw the lottery arm of IGT create revenue that exceeded $1 billion. Why have they decided to sign this deal with a wrestling company that hasn’t been getting the best of television ratings in recent months and has cut a large number of staff?

Jay Gendron, IGT’s chief operating officer for lottery, commented: “The WWE brand has broad appeal that reaches diverse age groups and cultural demographics in many geographies.”

The chief operating officer added that the company “looks forward to melding the unique WWE assets with IGT’s lottery expertise to create appealing, high-quality games and second-chance promotional opportunities for our global customers and their players.”

WWE always seem to be on the lookout for projects that can bring in additional revenue. That’s been important as they were unable at times to hold the live events in front of big crowds due to the pandemic.

The American gambling industry has seen many changes in recent years. An increasing number of states have legalized sports betting, especially online. March 2021 saw DraftKings become an official Gaming Partner of WWE.

The deal focused on DraftKings’ free-to-play pools product. They launched such a product at WrestleMania held a month after the deal was announced. Ezra Kucharz (Chief Business Officer for DraftKings) said the deal “helps fuel the engagement and drama of WWE’s signature matchups and storylines as audiences enjoy the second-screen experiences our products provide.”