International Game Tech (IGT), Everi Games Holding Enter Cross-Licensing Agreement

October 19, 2016 6:47 AM EDT

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International Game Technology PLC (NYSE: IGT), holder of the largest slot game feature patent portfolio in North America, announced that it has reached a patent cross-licensing agreement with Everi Games Holding Inc. ("Everi"), a subsidiary of Everi Holdings Inc. and leading manufacturer of electronic gaming machines and gaming payment solutions. Under the agreement, Everi can offer games that include any of the patented game features from the IGT portfolio, and will pay licensing fees to IGT.

"We are pleased to expand the positive impact of our patent portfolio by reaching this patent cross-licensing agreement with Everi," said Victor Duarte, IGT Global Chief Product Officer, Gaming. "IGT's leading R&D investment has created the largest portfolio of gaming intellectual property in the industry. This agreement represents a confirmation of the value derived from our ongoing commitment to developing and protecting intellectual property while supporting future innovation and growth."

"As Everi continues to build on our extensive games library, it makes sense to form value-added partnerships within our industry that allow Everi to continue to create more engaging player experiences," said David Lucchese, Everi Executive Vice President, Games. "Our agreement with IGT reflects a commitment by both parties to boost innovation across the gaming industry, and we couldn't be more pleased to be working with them while we strive to provide the very best in gaming entertainment."



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