IGT is a very powerful software provider, powering some of the most popular casinos globally. But they never cease to impress, since they have just concluded another significant deal. They announced the signing of a patent cross-licensing agreement with US based firm AGS. The latter is also a designer and manufacturer of gaming products. All these aim to bring to the casino industry something new and innovative, since two great developers are going to elaborate.
According to the terms of the deal that was concluded between the two sides, AGS can offer games including patented features from the IGT portfolio. Of course, AGS will pay licensing fees to IGT. The first has specialize in lottery games and to be precise, in Class II lottery games. Lately, though they expanded their portfolio including class III slot games, table games and social casino products. The deal, in many ways, reminds of the deal that was concluded between with Scientific Game. A deal that landed earlier in September.
In a statement announcing the signing of the agreement Michael Prescott, who serves as the IGT Senior Vice President and General Counsel, North America Gaming & Interactive said. “We continue to build on the strength and value of IGT’s intellectual property. More and more gaming companies license our patented game features. This cross-licensing agreement with AGS extends the reach of our IP even further across the gaming industry. And of course it will help propel our collective innovation and growth.”
From AGS, Ms Julia Boguslawski, who is the Chief Marketing Officer added. “Our success over the last few years has been a direct result of our team’s focus on providing engaging, diverse, and unique gaming experiences to players around the world. This agreement with IGT, giving us access to a depth of patents Moreover, it helps us remain focused on that goal while continuing to deliver some of the highest performing games in the industry.”