International Game Technology and Scientific Games have entered a cross-licensing agreement for patents related to cashless slot gaming technologies.
This will see both parties gain the ability to offer patented cashless gaming technologies from the companies’ combined portfolios of casino management systems solutions to the US gaming industry.
“At Scientific Games, we continue to find ways to extend the benefits of our innovative cashless technology. This new program allows SG and IGT to combine our leading IP for the benefit of our customers, and our industry,” commented Matt Wilson, CEO of gaming business unit Scientific Games.
“Consumers are increasingly comfortable using cashless technology, and they will continue to expect this option to be available on the floor. We’re excited to partner with IGT to make it easier for operators to deliver for their players.”
Furthermore, both Scientific Games and IGT state that by combining the strongest features of each company’s cashless gaming patent portfolio, they are providing a solution for the industry to quickly increase adoption of cashless technology.
“This cross-licensing agreement provides casino operators access to the gaming industry’s most compelling portfolio of cashless gaming technologies,” explained Renato Ascoli, IGT CEO of global gaming.
“We have made significant R&D investments over many years to develop this comprehensive suite of intellectual property in the cashless space. It makes revolutionary improvements to the player experience and represents the greatest advancement in cashless payments since the introduction of ticket-In, ticket-out.
“Cashless gaming is here to stay, and this strong portfolio of cashless IP can help casino operators ensure the safety of players by reducing cash handling and points of contact with slot games, while considerably improving casino operating efficiencies.”