Hassenfeld Criticizes IGT Deal, Fails to Disclose Hasbro’s Ties to Twin River’s Partner
Saturday, August 03, 2019
Long-time Hasbro Board member, former CEO Hassenfeld failed to disclose ties to Twin River's lottery partner
Local casino company Twin River has proposed taking over the state lottery contract from IGT by teaming with Scientific Games, a Las Vegas-based company.
Hassenfeld, a Florida resident and now a senior member of the board of Hasbro and chairman of the board’s executive committee, recently told GateHouse Media’s Providence Journal that “I have no skin in the game with IGT or Twin River.’’
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTBut, Hassenfeld’s Hasbro has a lot of skin in the game.
In 2014, Scientific Games Corporation announced it was extending through 2025 its long-term license agreement with Hasbro for the exclusive use of MONOPOLY and more than 15 other iconic game brands.
Hasbro makes millions licensing their games to appear on slot machines -- and much more -- in casinos around the world.
The terms allow these children’s gaming brands to be used for slots, systems, online digital gaming, lottery, social casino, eTables and expand the usage rights to include table games.
The agreement also extended the highly successful licensing deal which is the "broadest, most robust third-party licensing agreement in the gaming industry," according to the release.
Hassenfeld did not respond to request for comment.
Deal Started in 1990s -- When Hassenfeld Was CEO
When Hassenfeld was CEO of Hasbro he cemented the deal with Twin River’s partner. The ties between Hasbro and the gambling company are long and deep.
"Since 1998, Scientific Games has worked collaboratively with Hasbro in using the MONOPOLY brand as a pillar for innovation, leveraging its popularity to become one of the industry's top game brands," said Scientific Games' President and CEO, Barry Cottle in the 2014 announcement. "This new agreement signifies the strength of a great collaboration and celebrates the global endearment of the MONOPOLY brand as a leading slot brand and the top-selling licensed brand for lottery tickets. The agreement grants us the privilege of extending and expanding the scope of the licensing into a wide range of new products and play styles. We're excited to continue working with Hasbro to take MONOPOLY to the next level in gaming."
Specifically, the Hasbro and Scientific Games partnership allows the gambling company to use MONOPOLY branded content, and games based on many of Hasbro's iconic and extensive line of household favorites such as GAME OF LIFE, BATTLESHIP, CLUE, OUIJA, and YAHTZEE globally and SCRABBLE in the U.S. and Canada.
Mark Blecher, SVP of Corporate Strategy and Business Affairs at Hasbro said, "For more than 90 years, Hasbro has been committed to building play experiences that consumers trust. Our long-standing licensing partnership with Scientific Games has been a great way for Hasbro to enable our consumers to enjoy MONOPOLY experiences through lotteries, casinos, online, at retail and, now at table games across the globe. We're proud that our iconic brands have served as a catalyst for gaming innovation and look forward to our enhanced partnership with Scientific Games."
Scientific Games says "As a global leader in the gaming and lottery industries, Scientific Games’ mission is to empower our customers by creating the world’s best gaming and lottery experiences.
According to Hassenfeld’s Hasbro bio:
Alan G. Hassenfeld served as Chairman of the Board of Hasbro, Inc. from 1989 to 2008. Prior to May 2003, Mr. Hassenfeld served as Chairman of the Board and Chief Executive Officer of Hasbro since 1999. Prior thereto, he was Chairman of the Board, President and Chief Executive Officer of Hasbro since 1989. Mr. Hassenfeld is co-chairman of the Governing Body of the International Council of Toy Industries CARE Process, Chairman of the Jerusalem Foundation, and Co-Chair of the International Business School at Brandeis University.
The Board has nominated Mr. Hassenfeld for election as a director because of his more than 40 years of experience in the toy, game and family entertainment industry, including his extensive service in senior leadership roles at Hasbro, culminating in his service as the Company’s Chairman of the Board and Chief Executive Officer. Throughout his career at Hasbro, Mr. Hassenfeld held a number of positions of increasing responsibility in marketing and sales for the Company’s domestic and international operations, including responsibilities overseeing global markets. He became Vice President of International Operations in 1972 and later served as Vice President of Marketing and Sales and then as Executive Vice President, prior to being named President of the Company in 1984 and President and Chief Executive Officer in 1989. The Board believes Mr. Hassenfeld possesses particular knowledge, expertise and experience regarding strategic and operational planning and execution in the toy, game and family entertainment industries, expertise in industry trends and challenges, global markets, and international business operations, expertise in issues of corporate social responsibility and sustainability, and experience and expertise in the competitive and financial positioning of the Company and its business.
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