In a groundbreaking industry agreement, major gambling titles provider IGT has signed a patent cross-license agreement with international operator Novomatic. Under this new agreement, Novomatic Group is free to offer patented games from the IGT portfolio on their machines, for which they will pay ongoing license fees to IGT.
IGT is a significant force in the world of gambling titles. They provide games for gaming machines and lottery format games, as well as possessing some innovative social gambling titles. They have a large suite of electronic table games as well. They have a presence in over 100 countries worldwide, and over 12,000 employees. In fact, as stated in the press release that accompanied the agreement they’ve just inked, they own the “largest slot game feature patent portfolio in North America.” No mean feat in a region crazy for slots.
Novomatic is virtally a household name in gambling in Europe; they employ some 25,000 worldwide. They operate now in 45 countries around the globe, and export electronic gaming equipment to 70 countries. They also have a wide range of international subsidiaries. Their gaming activities extend across all sectors, from land based to online and mobile, from traditional casino gaming to sports betting. This deal looks to be a major win for both parties.
Thomas Graf, Chief Technical Officer of Novomatic Group, said in a statement following the deal: “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… 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,” IGT Senior Vice President Michael Prescott added. “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 has been known to license patented game features to other companies, like Scientific Games and Konami Gaming, and also has an agreement in place with Australian company Ainsworth Game Technology, which Novomatic gained a majority stake just two months ago.
