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4-Traders Homepage  >  Equities  >  Nyse  >  International Game Technology PLC    IGT   GB00BVG7F061

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IGT : Signs Cross-Licensing Agreement With Konami Gaming, Inc.

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06/12/2017 | 10:32pm CEST

LONDON, June 12, 2017 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT), holder of the largest slot game feature patent portfolio in North America, 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.

"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," said Michael Prescott, IGT Senior Vice President and General Counsel, North America Gaming & Interactive.

About IGT
IGT (NYSE:IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has over 12,000 employees. For more information, please visit www.igt.com.

About Konami Gaming, Inc.
Konami Gaming, Inc. is a Las Vegas-based subsidiary of KONAMI HOLDINGS CORPORATION (TSE: 9766). The company is a leading designer and manufacturer of slot machines and casino management systems for the global gaming market. For more information about Konami Gaming, Inc. or the SYNKROS gaming enterprise management system, please visit www.konamigaming.com.

IGT Contacts:
Robert K. Vincent, Corporate Communications, toll free in U.S./Canada (844) IGT-7452; outside U.S./Canada (401) 392-7452
Phil O'Shaughnessy, Global Communications, Gaming (702) 669-2975
Simone Cantagallo, (+39) 06 51899030; for Italian media inquiries
James Hurley, Investor Relations, (401) 392-7190

Konami Gaming, Inc. Media Contact:
Tashina Wortham,
Sr. Marketing Communications Specialist
702.419.6025
[email protected]

© 2017 IGT. All other trademarks used herein are owned by IGT or its affiliates, may not be used without permission, and where indicated with a ®, are registered in the U.S. Patent and Trademark Office.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/igt-signs-cross-licensing-agreement-with-konami-gaming-inc-300472552.html

SOURCE IGT

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