Deal Type: Asset Transaction
Deal Status: Announced
Deal Value: 0.0000 USD
Deal in Brief
International Game Technology PLC (IGT), a designer, developer, manufacturer and distributor of computerized gaming equipment, software and network systems based in the US, has signed an agreement to acquire electronic table game technology, patents and other intellectual property (Table Game IP) from Paradise Entertainment Limited, a holding company involved in development, supply and sales of electronic gaming systems and provision of casino management services based in Hong Kong.
Under the terms of agreement, IGT will pay Paradise an upfront fee plus an ongoing earn-out based on placement of products utilizing the Table Game IP over a 15 year term.
The agreement provides IGT with exclusive rights to Paradise's Table Game IP for the development, manufacturing, and distribution of Live and Random Number Generator (RNG) electronic table games worldwide, except in Macau where Paradise subsidiary LT Game will remain the exclusive provider of its electronic table game products.
The closing of the agreement is subject to Paradise obtaining requisite shareholders' consents and approvals.
Index - Hong Kong Special Administrative Region of China
Index - Games Consoles
Index - Games
Index - Infrastructure Services
Index - Games
Index - Gaming
Index - Gambling
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