Lightning Gaming and Hasbro, Inc. Enter Into Licensing Relationship
SCRABBLE to be Offered on Gaming Devices by Year End
PHILADELPHIA, Sept. 21 /PRNewswire/ -- Lightning Gaming, Inc., a leading software game developer for casinos and entertainment venues worldwide, announced today it has entered into a long-term licensing agreement with Hasbro, Inc. (NYSE: HAS) . The agreement grants exclusive rights to Lighting Gaming, Inc. to develop and produce gaming machines based on Hasbro's popular SCRABBLE(R) brand in the United States and Canada. The first gaming devices to be developed are expected to debut later this year.
"This agreement gives Lightning Gaming access (in the U.S. and Canada) to an incredibly popular and iconic game brand," said Brian Haveson, CEO of Lightning Gaming, Inc. "We can now open up our game development and content innovation to bring a new dynamic to traditional product offerings in the casino industry."
Mark Blecher, Hasbro's Senior Vice President and General Manager of Digital Media and Gaming, said, "Lightning Gaming has proposed an innovative take on the SCRABBLE brand for gaming machines and we anticipate a positive reaction to their creative thinking. As Hasbro evolves into a Company that is successfully leveraging our brands beyond traditional toys and games, we have forged relationships with partners who can create unique immersive brand experiences. That is exactly what Lightning Gaming has accomplished with their innovative SCRABBLE gaming machines."
Christopher Strano, CMO of Lighting Gaming, Inc. said, "As a game brand, SCRABBLE fits succinctly with our plans to provide an overall wining experience to players who expect interesting game play. Our SCRABBLE slot machine series will capitalize on the brand's popularity by providing the players with games that mimic the familiar attributes of the game."
About Lightning Gaming, Inc.
Founded in 2004, Lightning Gaming designs, develops and markets gaming equipment to the casino industry under the division of Lighting Poker(TM) and Lightning Slots(TM). Lightning Gaming, Inc. is a holding company for Lightning Poker and Lightning Slots. The company holds several licenses throughout the gaming industry.
About SCRABBLE
One of the most popular games in the world, SCRABBLE was invented over 60 years ago and has sold over 130 million sets world-wide. SCRABBLE is the second most popular board game in the United States today, enjoying 84% brand awareness with 73% of players being female *source Hasbro. The brand has continued its significance in the market with the advent of the internet and community websites like Yahoo games and Facebook where players meet online to play the games and participate in tournaments.
About Hasbro Inc.
Hasbro, Inc. (NYSE: HAS) is a worldwide leader in children's and family leisure time products and services with a rich portfolio of brands and entertainment properties that provide some of the highest quality and most recognizable play and recreational experiences in the world. As a brand-driven, consumer-focused global company, Hasbro brings to market a range of toys, games and licensed products, from traditional to high-tech and digital, under such powerful brand names as TRANSFORMERS, PLAYSKOOL, TONKA, MILTON BRADLEY, PARKER BROTHERS, CRANIUM and WIZARDS OF THE COAST. Come see how we inspire play through our brands at http://www.hasbro.com.
SCRABBLE, the associated logo, the design of the distinctive SCRABBLE brand game board, are trademarks of Hasbro in the United States and Canada
Forward-Looking Statements
Certain statements in this press release which are not historical facts, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, including those relating to timing of contracts, renewals or other events, business plans and performance objectives, are based upon management's current expectations, assumptions and estimates and are not guarantees of future results or performance. Actual results may differ materially from those projected in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; material adverse changes in economic and industry conditions in our markets; technological change; protection of intellectual property; security and integrity of software and systems; laws and government regulation, including those relating to gaming licenses, permits and operations; seasonality; dependence on suppliers and manufacturers; factors associated with foreign operations; failure to retain, renew or perform on contracts; resolution of pending or future litigation; and other factors described from time to time in our filings with the SEC, including our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date they are made, and except for our ongoing obligations under the U.S. federal securities laws, we undertake no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Lightning Gaming, Inc.
