International Game Technology (IGT) recently revealed that it had finalised a broad patent cross-licensing deal with Aristocrat Leisure Limited. This agreement includes prized patents for game features and remote game server technologies.
The agreement enables IGT to now offer licenses for the companies’ joint game feature and RGS patent portfolio to the international gaming industry.
At this point, there is no information available regarding the financial terms of the agreement.
Renato Ascoli, IGT’s CEO of Global Gaming said,
“This agreement extends and expands the previous patent cross-license between IGT and Aristocrat. This combination of two of the gaming industry’s most valuable game features and RGS patent portfolios can help propel the evolution of gaming with compelling content and advanced game mechanics. We look forward to providing the entire gaming industry with the opportunity to license IGT and Aristocrat patents, particularly the compelling content resulting from our combined RGS portfolios, in the spirit of competition and innovation.”
Aristocrat has experienced buoyant fortunes lately with Australian investment bank Citi sharing its opinion that the company’s mobile gaming business and new market opportunities make it an ideal choice for investors.
Aristocrat on the Rise
The financial firm elaborated on its stance in an official statement, saying,
“Aristocrat represents a compelling long-term growth story, with exposure to ongoing growth in mobile game penetration and potential to grow into new markets. The Gaming business offers annuity-like earnings through its Class III gaming operations. In Digital, we believe the market is implying at least three new hit titles across the RPG, Action, Strategy, and Social Casual genres by FY24e, putting pressure on recent releases to be successful. In contrast, expectations appear reasonable for the higher-margin Social Casino genre where Aristocrat is a market leader.”
This is a marked improvement to what was a somewhat disappointing start to the year when the company’s bid to acquire iGaming provider Playtech stalled and ultimately fell through.
