International Game Technology (IGT) has announced that it has signed a patent cross-licensing agreement with Konami Gaming, Inc, a leading innovator of slot machines and gaming enterprise management systems for the global gaming market. Under the agreement, Konami Gaming, Inc can offer games including patented game features from the IGT portfolio and will pay licensing fees to IGT.
“Cross-licensing these game patents between our two companies allows Konami and IGT to share some of the best features that make our games desired by customers. The opportunity to leverage some of IGT’s patented mechanics enables Konami to enhance our game portfolio as we continue to focus on delivering the most enjoyable ‘Born from Fun’ gaming experiences possible,” said Thomas A Jingoli, Konami Gaming, Inc Executive Vice President and Chief Commercial Officer.
Michael Prescott, IGT Senior Vice President and General Counsel, North America Gaming & Interactive, added, “Our cross-licensing agreement with Konami Gaming, Inc demonstrates the strength of IGT’s game feature patent portfolio and the value that it represents to other gaming companies. We look forward to continued collaboration across the industry as we collectively invest in the growth of gaming.”
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