LONDON, Oct. 3, 2016 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced that it has reached a comprehensive cross-licensing agreement with Aristocrat Leisure Limited ("Aristocrat") (ASX: ALL) covering intellectual property involving game features and system patents. Terms of the agreement have not been announced. IGT also announced that the parties have agreed to settle all outstanding litigation between them.
"IGT's R&D investment and patent portfolio are the largest in the gaming industry. We are pleased to have reached this agreement with Aristocrat as we build upon our leadership in gaming innovation," said Renato Ascoli, IGT Chief Executive Officer North America Gaming & Interactive (DoubleDown Casino). "This agreement demonstrates both companies' shared commitment to investing in and preserving the value of intellectual property."
"Turning ideas into value-adding innovation is core to Aristocrat's mission to 'create the world's greatest gaming experience every day'. Our agreement with IGT will contribute toward this, and we are pleased to have finalized these arrangements," said Toni Korsanos, Aristocrat Chief Financial Officer & Company Secretary.
IGT (NYSE: IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has over 12,000 employees. For more information, please visit www.IGT.com.
Aristocrat Leisure Limited (ASX: ALL) is a leading global provider of gaming solutions. The Group is licensed by over 200 regulators and its products and services are available in over 90 countries around the world. Aristocrat offers a diverse range of products and services including electronic gaming machines and casino management systems. The Group also operates within the online social gaming and real money wager markets. For further information visit the Group's website at www.aristocratgaming.com.
Robert K. Vincent, Corporate Communications, toll free in U.S./Canada (844) IGT-7452; outside U.S./Canada (401) 392-7452
James Hurley, Investor Relations, (401) 392-7190
Natalie Toohey (612) 409 239 459
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