International Game Technology (IGT) has announced that it has resolved its legal dispute(s) with fellow supplier Acres, effective as of 12 April.
Centred around the accusation of patent infringement on Acres' part, the case highlights IGT’s claim that its competitor had breached at least four of its patents related to cashless wagering through the development of its Foundation casino management system. The legal battle entailed an in-depth analysis of the technological system itself, with regard to its functional design, to ascertain any patent violation that may have occurred.
Today, the two companies have settled through a mutual agreement in the United States District Court of Nevada. The terms of the settlement have not yet been released to the public; however, representatives on both sides of the dispute have expressed satisfaction surrounding the outcome of the patent infringement case.
John Acres, Acres CEO, stated: “We are thrilled to put this matter behind us and work competitively with IGT to build exciting new gambling experiences that can increase both player enjoyment and casino profits.”
In February, Acres also announced the release of its Player Budget Tool – which aims to identify problem gambling behaviour and personalise marketing.
IGT COO Gaming Nick Khin also commented on the resolution of the dispute, saying: “IGT is pleased to reach a mutual agreement with Acres that resolves all disputes between us. This allows us to dedicate our collective resources where they are better served, driving continued innovation in the exciting and evolving cashless gaming space.”
In March, IGT released positive Q4 2023 financial results, displaying a revenue rise of 3% to $1.1bn year-on-year.
