The world’s two largest slot and systems makers, International Game Technology and Scientific Games, have joined forces in a historic agreement to cross-license a number of their prized game patents.
The deal, whose financial terms were not disclosed, allows the two companies to offer play features from each other’s portfolios as well as those of other members of the IGT slot game features pool.
Between them, IGT and Scientific Games have the largest stables of patented slot features in North America.
“We have worked with most of the major slot manufacturers to execute game feature IP cross-licensing agreements,” said Renato Ascoli, IGT CEO North America gaming & interactive. “This enables the entire industry to benefit from IGT’s game patent portfolio, which is the largest in North America, and also the portfolios of our cross-licensing partners. We’re very pleased that this program has come to fruition and delivered such significant results for IGT.”
In 2015, the two were the subjects of multibillion-dollar mergers that consolidated a large portion of the gaming equipment sector and also united lotteries and traditional casino games under single companies.
GTECH Holdings acquired IGT in a $6.4 billion transaction and lottery giant Scientific Games spent $5.1 billion to purchase Bally Technologies a year after buying WMS Industries for $1.4 billion.
The announcement of the licensing agreement came just a month before Global Gaming Expo kicks off in Las Vegas, the industry’s largest trade show and one traditionally dominated by IGT and Bally.