Rival slot suppliers International Game Technology PLC and Scientific Games Corp. announced that they have signed a cross-licensing agreement for patents related to cashless slot gaming technologies. Under the agreement, Scientific Games and IGT will be able to offer patented cashless gaming technologies from the companies’ combined portfolios of casino management system solutions to the U.S. gaming industry.
As a result of this agreement, operators will now be able to unlock the industry’s most compelling portfolio of cashless gaming technologies. By combining the strongest features of each company’s cashless gaming patent portfolio, IGT and Scientific Games are providing a solution that allows the gaming industry to quickly increase adoption of cashless technology.
“This cross-licensing agreement provides casino operators access to the gaming industry’s most compelling portfolio of cashless gaming technologies,” said Renato Ascoli, ITG’s CEO of global gaming. “We have made significant R&D investments over many years to develop this comprehensive suite of intellectual property in the cashless space. It makes revolutionary improvements to the player experience and represents the greatest advancement in cashless payments since the introduction of ticket-in, ticket-out (TITO).”
“At Scientific Games, we continue to find ways to extend the benefits of our innovative cashless technology,” added Matt Wilson, CEO of Scientific Games’ gaming business unit. “This new program allows SG and IGT to combine our leading IP for the benefit of our customers, and our industry.
“Consumers are increasingly comfortable using cashless technology, and they will continue to expect this option to be available on the floor. We’re excited to partner with IGT to make it easier for operators to deliver for their players.”
Through the agreement, each company will have immediate access to the other party’s cashless gaming patents. Financial terms of the agreement have not been disclosed.