IGT and Greentube Sign Patent Cross-Licensing Agreement for Remote Game Server

Rhea-AI Summary

International Game Technology (NYSE:IGT) has entered into a patent cross-licensing agreement with Greentube, a division of NOVOMATIC. This deal encompasses valuable patents related to remote game server technologies, allowing IGT to offer licenses to these combined portfolios within the global gaming industry. The financial terms remain undisclosed. IGT's CEO, Renato Ascoli, expressed optimism about fostering collaboration in the gaming sector, while Greentube's CEO, Thomas Graf, highlighted the significance of this agreement in enhancing their premium gaming products. Both companies will continue to safeguard their intellectual property and drive innovation in gaming.

Positive

• Established a patent cross-licensing agreement with Greentube, enhancing innovation in the gaming sector.
• Access to a combined Remote Game Server patent portfolio can attract third-party sublicensing opportunities.

Negative

• None.

Combined Remote Game Server patent portfolio offers compelling technologies for digital and social gaming

Remote Game Server patents can be sublicensed to third parties to advance innovation in the gaming industry

LONDON, Jan. 18, 2023 /PRNewswire/ -- International Game Technology PLC (NYSE:IGT) ("IGT") and Greentube, the NOVOMATIC Digital Gaming and Entertainment division, ("Greentube") today announced that they have signed a patent cross-licensing agreement that includes valuable patents related to remote game server (RGS) technologies for providing games over a network. With the execution of this agreement, IGT can offer the global gaming industry a patent license to the combined RGS portfolios of IGT and Greentube. Financial terms of the agreement have not been disclosed.

"This agreement continues the spirit of collaboration and innovation that IGT seeks to foster in our industry," said Renato Ascoli, IGT CEO Global Gaming. "We look forward to providing the entire gaming industry with the opportunity to license the combined RGS portfolios of IGT and Greentube which cover compelling technologies for delivering games to customers wherever they play."  

"We are very pleased to reach this significant intellectual property agreement with IGT, as Greentube continues to expand its premium gaming products and solutions," said Thomas Graf, Greentube CEO. "The combined RGS portfolios of Greentube and IGT are truly state-of-the-art, representing a combined prowess and gaming industry leadership that is well-positioned to fuel continued success."

Both companies will continue in their efforts to protect their intellectual property, individually and through collaborations with gaming industry developers and suppliers, in an effort to advance innovation and excitement in the gaming market.

About IGT
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. 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 approximately 10,500 employees. For more information, please visit www.igt.com.

About Greentube
Step inside the "Home of Games" with Greentube, delivering safe and secure casino entertainment to players around the world. As the NOVOMATIC Digital Gaming and Entertainment division, Greentube offers a diversified portfolio of Video Slots, Table Games, AWP Reloaded Slots, Server-Based Gaming, Social Casino Gaming, Video Bingo and more. Greentube's Omni-channel technology is at the forefront of gaming innovation and converges online, mobile and land-based gaming.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the "Company") and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should," "shall", "continue," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2021 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

IGT Contacts
Phil O'Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Francesco Luti, Italian media inquiries, +39 06 5189 9184
James Hurley, Investor Relations, +1 (401) 392-7190

Greentube Contact
Bernadett Nagy
Head of Corporate Marketing & PR
Greentube GmbH
Phone: +43 1 90 171
press@greentube.com 

© 2023 IGT

The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.

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SOURCE International Game Technology PLC

FAQ

What is the recent patent agreement between IGT and Greentube?

IGT and Greentube signed a patent cross-licensing agreement focusing on remote game server technologies, aimed at advancing innovation in the gaming industry.

How will the patent agreement impact IGT's business?

The agreement allows IGT to license combined RGS patent portfolios, potentially increasing revenue through sublicensing opportunities.

When was the patent cross-licensing agreement for Remote Game Server announced?

The patent cross-licensing agreement was announced on January 18, 2023.

What technologies are included in the IGT and Greentube patent agreement?

The patent agreement includes technologies related to remote game server (RGS) for delivering games over a network.