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IGT inks cross-patent licensing deal with Aristocrat Leisure Limited
Updated:2024-06-18 16:39    Views:126

Multinational gaming machines, lottery, sportsbetting and iGaming innovator International Game Technology (IGT) has announced the signing of a ‘broad cross-patent licensing agreement’ with market rival Aristocrat Leisure Limited.

The London-listed behemoth used an official Tuesday press release to declare that the arrangement for an undisclosed amount will allow both companies to offer ‘the global gaming industry’ access to each other’s entire portfolios of ‘valuable patents related to game features and remote game server technologies.’

Cooperation continuation:

Renato Ascoli serves as the Global Gaming Chief Executive Officer for IGT and he used the press release to proclaim that the new alliance ‘extends and expands’ an earlier cross-license patent deal between the two companies as his enterprise continues with an ongoing intellectual property protection campaign ‘individually and through collaborations with gaming industry developers and suppliers.’ The executive asserted that the fresh union is moreover ‘an effort to advance innovation and excitement in the gaming market’ and comes only a day after the firm detailed that it was to spend some €160 million ($174 million) so as to acquire British online casino games and software innovator iSoftBet.

Read a statement from Ascoli…

“This combination of two of the gaming industry’s most valuable game features and remote game server patent portfolios can help propel the evolution of gaming with compelling content and advanced game mechanics. We look forward to providing the entire gaming industry with the opportunity to license IGT and Aristocrat Leisure Limited patents, particularly the compelling content resulting from our combined remote game server portfolios, in the spirit of competition and innovation.”

Canadian coup:

The pact between IGT and Aristocrat Leisure Limited was unveiled at the same time as the former company pronounced that its IGT Canada Solutions subordinate has inked a contract to supply 1,375 CrystalDual 27 video lottery terminals to Canadian operator Atlantic Lottery Corporation before the end of the year.

Sought-after substance:

The Canada, South and Central America Senior Vice-President for IGT, David Flinn, used a second press release to state that these terminals are to come complete ‘with high-performing themes’ such as the Big City 5’s, The Wild Life, Royal Spins Deluxe and The Big Easy. He explained that his company additionally intends to begin bringing content themed around the highly-popular The Price Is Right television game show to these units from next year.

A statement from Flinn read…

“The versatility of our CrystalDual 27 video lottery terminals enables the Atlantic Lottery Corporation to continue modernizing its gaming offering and providing players with best-in-class market-attuned content. These 1,375 CrystalDual 27 units in addition to the more than 350 that are already in Atlantic Lottery Corporation’s market reinforce our commitment to the lottery‘s growth and will elevate gaming within the region with highly successful hardware.”