Professional sports may not like the idea of having gambling associated with their games but that will be tested soon as MDI Entertainment Inc. (LTRY), the world’s leader in licensed lottery games and promotions, unveils the first Major League Sports lottery games involving the National Basketball Association.
It’s expected that the NBA games will hit the hardwood at lotteries in New Jersey, Indiana, Wisconsin and Washington D.C. early in the 2002/2003 NBA season. The company said that several other states are negotiating for the MDI instant basketball game tickets.
In making the announcement, MDI president and CEO Steve Saferin said, “Lotteries will not only be able to market and promote the world famous NBA and WNBA name and logo, but partner with specific teams special to their state. The merchandise and grand prize trip possibilities are virtually unlimited.”
MDI’s license allows government sponsored lotteries to incorporate NBA and WNBA league and team names and logos on lottery instant scratch tickets. In addition to cash prizes, the games will offer a variety of NBA and WNBA merchandise and experiences as secondary prizes. All profits from the lottery games, which typically average 30-40% will go to the lottery operators.
In addition to the NBA and WNBA licenses, MDI has contractual arrangements to feature such brands as Betty Boop, Elvis Presley, I Love Lucy, Magic 8 Ball, FIFA World Cup Soccer, Universal studies Monsters, SPAM, the Hulk, the Honeymooners and many others.