International Game Technology (IGT), holder of the largest slot game feature patent portfolio in North America, said it signed a patent cross-licensing agreement with Konami Gaming.
Under the agreement, Konami Gaming 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,” said Thomas Jingoli, Konami Gaming chief commercial officer.
“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.”
Michael Prescott, IGT general counsel North America Gaming & Interactive said: “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.”