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NetEnt and iGT have announced yesterday they’ve reached an “IP patent cross-license agreement” which is basically the same as most ‘deals’ NetEnt typically announces in press releases (the ‘license agreement’ deals) but this time the other way around…
Usually in the ‘license agreement deals’ NetEnt regularly closes with (normally) an online casino or online casinos operating company the latter becomes ‘licensed’ to offer the casino gaming products as developed by Net Entertainment to their registered players and clients. In this latest deal NetEnt apparently has managed to strike with iGT it’s the other way around… now NetEnt has become licensed to offer iGT products through its multi-channels on the North American iGaming market.
The iGT ‘company history timeline’ starts in 1981 when an earlier private owned company founded in the 1950s went public and became listed on the New York Stock Exchange. iGT (which is short for ‘International Game Technology’) bills itself to be the “leading company specializing in design, development, manufacturing, distribution, and sales of computerized gaming equipment, software, and network systems worldwide” and is said to have delivered half of all slot machines currently operational in the US.
The company has offices all around the world and of course they’re also active on the online gaming market, responsible for such famous games as the Cluedo-, Monopoly- and Cleopatra Mega Jackpot video slots and the Dungeons and Dragons and DaVinci Diamonds series of slots. Besides video slot games iGT is also renowned for its video poker games of which the company has developed and released various titles. iGT online games can be found in many online casinos that operate on regulated markets under which also in the majority of the safe and reliable NetEnt Casinos as listed on our Leading NetEnt Fansite.
As usual representatives of both involved companies each in their own way commented on the deal which in this case was done as follows by iGT Interactive senior vice-president Matteo Monteverdi:
“We are very pleased to reach an agreement to provide NetEnt with IGT’s best-in-class portfolio of game feature patents. Working in partnership with NetEnt enables us to further validate our significant IP portfolio.”
His colleague at NetEnt, Managing Director NetEnt Americas LLC Björn Krantz stated:
“IGT is a key partner for NetEnt in its expansion into North America, and we are really pleased that we’ll have access to all of IGT’s game feature patents for our North American multichannel games offering.”
Furthermore NetEnt emphasized in the press release it regards the ‘cross-license agreement’ with iGT as a “big step forward in the process of an entry for NetEnt into the North American market”, indeed (as we as ‘insiders’ know) one of the main priorities Net Entertainment has set for itself for the near future.
Only that same ‘near future’ will show how the actual cooperation between NetEnt and iGT on the North American market eventually will look like (which iGT casino games NetEnt will offer and through which of the channels it uses to distribute its own online casino games on this particular market). Despite these details that yet have to be worked out the agreement once again is a striking example of how NetEnt continually expands its presence in different areas and regions.
As for now we can firmly congratulate both iGT and (above all) NetEnt with the agreement, as surely it will bring both companies there where they both (‘boldly’) want to go and as soon as we’ve got more info about the deal you’ll (of course) read it first over here!