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IGT Executes Licensing Agreement with Maryland Lottery for Cash Pop Game
LONDON – Feb. 13, 2024 – International Game Technology PLC (“IGT”) (NYSE:IGT) today announced that it has signed a licensing agreement with the Maryland Lottery and Gaming Control Agency (“Maryland Lottery”) for IGT’s patented Cash Pop™ draw-based game. The Maryland Lottery expects to launch Cash Pop in May 2024 with four daily drawings at multiple price points from $1 to $10.
“The Maryland Lottery is always excited to launch new draw games, and IGT’s Cash Pop will be a novel addition to our portfolio,” said Kate Airey, Director of Product Development for the Maryland Lottery and Gaming Control Agency. “We’re confident that the 1 in 15 odds of winning a single ‘Pop’ will resonate with our existing players, and the gameplay is easy to understand, which will help us engage a new generation of players.”
“This licensing agreement between the Maryland Lottery and IGT for our proprietary Cash Pop game builds upon our strong momentum expanding the reach of this exciting game,” said Jay Gendron, IGT Chief Operating Officer, Global Lottery. “Cash Pop has yielded significant sales in jurisdictions where it’s available, and we believe it will enhance Maryland Lottery’s draw game portfolio with its simplistic and flexible gameplay features that players readily embrace.”
Cash Pop gives players the ability to strategize their wager and create their own personalized experience every time they play, which has proven to be highly engaging among players where Cash Pop is offered. Players wager one or more numbers from 1 to 15 and then select a wager amount of $1, $2, $5, or $10 per number. The player can also choose how many consecutive games to play. When the wager is placed, the terminal randomly assigns the value of the prize to be won if the number is matched, which produces a “two games in one” aspect to the game. Lotteries can also choose the frequency of the draws according to their needs, but each draw will be a single number from 1 to 15. Cash Pop has proven to be a solid sales producer with average weekly per capita sales of $0.10 across the U.S. in the first quarter of 2023.
As the global lottery market leader, IGT is the primary technology provider to 26 lotteries in the U.S., eight of the world's largest 10 lotteries and 16 of the world's top 25 lotteries. For more information, visit IGT.com and follow us on Facebook and LinkedIn.
About IGT
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 10,500 employees. For more information, please visit www.igt.com.
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 International Game Technology PLC and its consolidated subsidiaries (the "Company") 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 the Company 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 speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company'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 such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2022 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. 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 International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
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