Leading slot manufacturer International Game Technology Plc., holder of the largest slot game feature patent portfolio in North America, announced that it has signed a patent cross-licensing agreement with Konami Gaming, Inc.
It is the fourth such cross-licensing deal signed by IGT permitting rival slot-makers to license patented IGT game features for use in their own games. Over the past year, similar agreements were signed with Aruze Gaming, Everi Holdings and Aristocrat Technologies.
Under the agreement, Konami Gaming, Inc. can offer games including patented game features from the IGT portfolio, and will pay licensing fees to IGT.
“Cross-licensing these game patents between our two companies allows Konami and IGT to share some of the best features that make our games desired by customers,” said Thomas A. Jingoli, Konami’s executive vice president and chief commercial operator. “The opportunity to leverage some of IGT’s patented mechanics enables Konami to enhance our game portfolio as we continue to focus on delivering the most enjoyable ‘Born from Fun’ gaming experiences possible.”
“Our cross-licensing agreement with Konami Gaming, Inc. demonstrates the strength of IGT’s game feature patent portfolio and the value that it represents to other gaming companies,” said Michael Prescott, IGT’s senior vice president and general counsel, North America gaming and interactive. “We look forward to continued collaboration across the industry as we collectively invest in the growth of gaming.”
