Leading slot manufacturer International Game Technology announced that it is partnering with Macau-based LT Game, the subsidiary of Paradise Entertainment Ltd. that has been a leader in live/electronic hybrid table games in the Asian market.
IGT and LT Game signed a three-year agreement under which IGT will assemble and distribute LT Game products in the U.S. and Canada, and LT game will serve as distributor for IGT slot machines in Macau.
“As IGT and LT Game each seek to expand their global market share and product portfolio, this partnership provides the unique opportunity to leverage existing sales, service and compliance infrastructures to drive revenues from incremental product segments,” said a statement from IGT.
The terms of the agreement specify that IGT will distribute LT Game products on an exclusive basis across jurisdictions in the U.S. and Canada. IGT also is granted right of first refusal for distribution of LT Game products in Europe, the Caribbean, South America and Central America.
“This alliance is unique to the gaming industry, combining the storied IGT legacy with the market intuition of LT Game to deliver a broader and more relevant product portfolio to our collective customers in North America and Macau,” said Eric Tom, executive vice president of global sales for IGT. “We will work alongside our partner, LT Game, in both markets to ensure that an exemplary level of customer care is maintained, while we also continue our direct sales and support for systems products in Macau.”
“The agreement unlocks enormous potential for LT Game in the international market and marks a significant milestone in our history,” said Jay Chun, chairman and managing director of Paradise Entertainment. “It signals an important cooperation that will generate synergies for both IGT and LT Game. As a market leader in Macau, LT Game is well-positioned to assist IGT in their penetration in the domestic Macau market. Conversely, I believe the collaboration with IGT will enable LT Game to accelerate its expansion of global presence and distribution.”
LT Game’s most prominent product is a hybrid electronic table game system that uses a live dealer and transmits games to a virtually unlimited number of electronic wagering stations. Chun and Paradise have been involved in a drawn-out legal battle with the former SHFL entertainment, now a division of Bally Technologies, involving allegations that SHFL hybrid table games infringe on patents LT Game holds in Macau.
IGT, which is in the process of being acquired by lottery and casino giant GTECH, will use the partnership agreement to place games in North America that will compete with the Bally/SHFL product.
