IGT and Scientific Games sign landmark patent swap agreement

IGT and Scientific Games sign landmark patent swap agreement

Tuesday, September 5, 2017 Posted by James Walker
No alternative text provided

Two of the global casino industry’s biggest suppliers, IGT and Scientific Games, have signed a landmark patent cross-licensing agreement, providing the companies with access to each other’s slot features.

The unprecedented move will see the manufacturers pool their resources, allowing IGT and Scientific Games to use patented game features from each other’s portfolios.

As two of the industry’s best-known suppliers, IGT and Scientific Games hold the largest slot game feature patent portfolios in North America. The slots-to-systems giants achieved revenues of $1.3 billion and $2.9 billion, respectively, in 2016.

Financial terms of the agreement have not been disclosed.

Totally Gaming says: IGT is no stranger to cross-licensing agreements. The New York-listed company recently unveiled IP tie-ups with Paradise Entertainment, Konami Gaming and Aruze Gaming. This latest agreement with Scientific Games, however, aligns two of the industry’s biggest rivals, each of which will now be able to cherry-pick from the other’s wide range of coveted slot features.

Latest

tappit: The future of casino currency?

No alternative text provided

Customer centric Metal Casino puts punters first

No alternative text provided

VSoftCo aiming to be “home of all sports based content”

MGM sitting pretty domestically but Asian growth stagnates

Gaming Products & Services Directory

The essential directory for the gaming industry