LONDON, March 13, 2018 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT), holder of the largest slot game feature patent portfolio in North America, announced that it has signed a patent cross-license agreement with the NOVOMATIC Group; a full-service provider in all segments of the gaming industry. Under the agreement, the NOVOMATIC Group can offer games including patented game features from the IGT portfolio, and will pay ongoing licensing fees to IGT. Financial terms of the agreement are confidential.
"Reaching this cross-licensing agreement with IGT enhances our global expansion strategy with access to compelling product features that have proven to be successful in North America and international markets," said Thomas Graf, CTO of NOVOMATIC AG. "We are very pleased to have this opportunity to expand our creative capacity with this vast portfolio of game features."
"We welcome NOVOMATIC to a comprehensive group of gaming industry leaders who have created a vast resource of game features patents," said Michael Prescott, IGT Senior Vice President and General Counsel, North America Gaming & Interactive. "IGT's collaborative effort to build upon North America's largest slot game feature patent portfolio now encompasses a global patent pool that we believe can foster continued industry-wide innovation."
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.
The NOVOMATIC Group is one of the biggest international producers and operators of gaming technologies and employs around 25,000 staff worldwide. Founded by entrepreneur Professor Johann F. Graf in 1980, the Group has locations in 45 countries and exports high-tech electronic gaming equipment and solutions to more than 70 countries. The Group operates more than 260,000 gaming terminals in its some 2,100 plus gaming operations as well as via rental concepts.
Through its numerous international subsidiaries, the NOVOMATIC Group is fully active in all segments of the gaming industry and thus offers a diversified Omni-channel product portfolio to its partners and clients around the world. This product range includes land based gaming products and services, management systems and cash management, online/mobile and social gaming solutions as well as lottery and sports betting solutions together with a range of sophisticated ancillary products and services.
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