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Coming Soon: 'Shark Tank' Lottery Game

Coming Soon: 'Shark Tank' Lottery Game, Courtesy Of IGT

In a coups of sorts, International Game Technology PLC IGT 0.16% has managed to clinch the property licensing rights to
Shark Tank."

In a press release, the company said its subsidiary IGT Global Solutions has secured from Sony Corp (ADR) SNE 1.92% Sony Pictures Television Inc. the rights to develop and distribute Shark Tank branded lottery products in the United States. The company has the rights to distribute instant scratch games, pull-tab games, traditional online games, instant online games, interactive games and mobile games.

"IGT is pleased to partner once again with Sony, a company that consistently delivers popular television and theatrical entertainment, to bring the Shark Tank brand to lottery customers," said Michael Chambrello, IGT CEO, North America Lottery. "Together, IGT and Sony will develop a Shark Tank lottery program which will encompass the hallmarks of the brand which has reinvigorated entrepreneurship in America. Shark Tank offers our customers a unique way to integrate relevant and popular entertainment into their game portfolios with a brand that is synonymous with money and winning."

The 'Shark Tank' Story

"Shark Tank" is an American reality television series that premiered on Walt Disney Co DIS 2.5%'s ABC on August 9, 2009. The show is into its eighth season now. It is supposedly modeled along the lines of the Japanese show "Tigers of Money," which made its appearance for the first time in 2001.

A panel of shark investors, with Kevin O'Leary among them, evaluate investment avenues of the participants. If convinced of the business model, a shark investor many decide to invest in the venture.

At time of writing, shares of International Game Technology were up 1.33 percent at $25.83.

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.