International Game Technology which is the holder of biggest slot feature patent portfolio in the Northern section of the USA, has opted for a cross-license agreement with gaming industry giant Novomatic Group.
Under this agreement, the Novomatic Group will offer games as well as the patented game features from the portfolio of IGT slots. It will pay licensing fees to the US gaming behemoth. The financial terms have been kept confidential.
IGT’s senior VP for North America Michael Prescott said the inclusion of NOVOMATIC in the gaming portfolio is a welcome one. IGT has been trying to develop robust game feature patent portfolio is going to be fruitful. This will lead to innovations that will benefit the gaming industry.
NOVOMATIC AG’s CTO, Thomas Graf said this cross-licensing agreement will enhance global expansion strategy of the entity. The company will get access to IGT’s famous product features and the scope in the global market is awesome. This new licensing agreement comes at a time when Novomatic has acquired a major part of Ainsworth Game Technology Ltd– an Australian gaming firm. These two developments will prove to be advantageous for Novomatic as it tries to expand in the US gaming market.
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