Manufacturers and providers of gaming machines for the land-based gambling industry IGT PLC and Aristocrat Leisure Ltd. today announced that they have reached a cross-licensing agreement focused on intellectual property regarding game features and system patents. The involved parties did not disclose details on their agreement.
In addition to this, it appears that they have agreed to resolve outstanding litigation between them. IGT and Aristocrat have been involved in a court battle which was centered around the validity of certain slot machine patents. Last spring, IGT filed a court complaint arguing that devices manufactured by Aristocrat infringed ten of its patents. On the other hand, Aristocrat challenged four IGT patents. The latter responded by pointing out that the inventor of the four controversial patents, Joseph Kamnikow, had worked for IGT and had assigned them to its employer at that time.
Mr. Kamnikow joined Aristocrat in 2013 and took part in the development of the contentious slot machines. It is actually important to note that the two companies have found themselves in court several other times, each arguing that the other has stolen ideas and concepts from them.
Commenting on the latest agreement reached, IGT CEO North America Gaming and Interactive Renato Ascoli said that with his company’s research and development investment and patent portfolio being among the largest in the industry, they are all pleased with that turn of events. The official further noted that the deal will help them build on their gaming innovation leadership and that it is indicative of both companies’ commitment to invest and preserve intellectual property value.
Aristocrat Chief Financial Officer and Company Secretary Toni Korsanos added that they are pleased with the arrangements’ finalization and that producing value-adding innovation from mere ideas has always been central to his company’s strategy to provide players with the “greatest gaming experience” in the world.
IGT is among the leading providers of different products and services for both the land-based and remote gaming industry. Its products are now available in more than 100 countries in different parts of the world.
Over the years, Aristocrat has, too, established itself as one of the most highly preferred manufacturers and providers of gaming solutions. Licensed by over 200 regulators, its products and services could be found in more than 90 jurisdictions.
