IGT, Aruze Gaming sign cross-licensing agreement
Casino supplier International Game Technology Plc (IGT) announced on Wednesday that it has signed a patent cross-licensing agreement with Aruze Gaming, a company that designs, develops and manufactures slot machines and gaming devices for the global casino market.
Under the agreement, Aruze Gaming can offer game products including patented game features from the IGT portfolio, and will pay licensing fees to IGT, according to a press release. The terms of the agreement have not been disclosed.
Aruze Gaming operates as a subsidiary of Japan-based Universal Entertainment Corp, a company founded and chaired by gaming entrepreneur Kazuo Okada.
“This cross-licensing agreement with Aruze Gaming continues IGT’s positive momentum toward investing in the growth of the gaming industry while protecting our intellectual property,” said Michael Prescott, IGT senior vice president and general counsel for North America gaming and interactive, in a prepared statement.
“We are very pleased that IGT’s patented game features have inspired a significant amount of licensing interest from such a diverse range of gaming companies,” Mr Prescott added.
IGT and Australia-based Aristocrat Leisure Ltd announced in October last year that the two firms had reached a cross-licensing agreement covering “intellectual property involving game features and system patents”.
U.S.-based IGT in April 2016 reached an agreement with Hong Kong-listed casino equipment maker Paradise Entertainment Ltd, for the latter to transfer all of its electronic table game technology, patents and other intellectual property to IGT, with the exception of table game intellectual property used exclusively in Macau.
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