IGT and Scientific Games Combine to Offer Cashless Gaming Technologies
March 1, 2021
International Game Technology and Scientific Games have signed a cross-licensing agreement for patents related to cashless slot gaming technologies.
Under the terms of the agreement, both firms will be able to offer patented cashless gaming technologies from their combined portfolios of casino management systems solutions to the U.S. gaming industry. Through the agreement, each company will have immediate access to the other party's cashless gaming patents.
As a result, operators will be able to unlock what the two parties described as “the industry’s most compelling portfolio of cashless gaming technologies”. By combining the strongest features of each company’s cashless gaming patent portfolio, the companies say they are providing a solution for the gaming industry to quickly increase adoption of cashless technology.
"This cross-licensing agreement provides casino operators access to the gaming industry's most compelling portfolio of cashless gaming technologies. We have made significant R&D investments over many years to develop this comprehensive suite of intellectual property in the cashless space. It makes revolutionary improvements to the player experience and represents the greatest advancement in cashless payments since the introduction of Ticket-In, Ticket-Out (TITO)," said Renato Ascoli, IGT CEO Global Gaming.
"Cashless gaming is here to stay, and this strong portfolio of cashless IP can help casino operators ensure the safety of players by reducing cash handling and points of contact with slot games, while considerably improving casino operating efficiencies."
Matt Wilson, CEO, Gaming Business Unit Scientific Games, added: "At Scientific Games, we continue to find ways to extend the benefits of our innovative cashless technology. This new program allows SG and IGT to combine our leading IP for the benefit of our customers, and our industry.
"Consumers are increasingly comfortable using cashless technology, and they will continue to expect this option to be available on the floor. We're excited to partner with IGT to make it easier for operators to deliver for their players."
The news comes after IGT recently extended its agreement with supplier Global Payments Gaming Solutions to extend its cashless offerings to IGT Pay customers, providing a range of cashless funding solutions across IGT’s portfolio of products including allowing patrons to transfer funds from registered bank accounts to IGT’s Resort Wallet Cashless Wagering Accounts.
SOURCE: Scientific Games