Global gaming equipment manufacturer IGT has announced the signing of a patent cross-licensing agreement with US based firm AGS, a designer and manufacturer of gaming products.
Under the terms of the agreement AGS can offer games including patented features from the IGT portfolio, and will pay licensing fees to IGT.
AGS primarily specialises in Class II lottery style games, which are often used in tribal casinos operating in the US, however the firm has recently expanded its operations to include class III slot games for commercial casinos, speciality table games and social casino products.
This latest deal follows a similar intellectual property agreement between IGT and Scientific Games earlier this month. IGT have existing patent cross-licensing deals with Paradise Entertainment, Konami Gaming and Aruze Gaming.
In a statement announcing the signing of the agreement Michael Prescott, IGT Senior Vice President and General Counsel, North America Gaming & Interactive said:"We continue to build on the strength and value of IGT's intellectual property as more and more gaming companies license our patented game features.
“This cross-licensing agreement with AGS extends the reach of our IP even further across the gaming industry, helping propel our collective innovation and growth."
Julia Boguslawski, AGS Chief Marketing Officer added: "Our success over the last few years has been a direct result of our team's focus on providing engaging, diverse, and unique gaming experiences to players around the world.
"This agreement with IGT, giving us access to a depth of patents, helps us remain focused on that goal while continuing to deliver some of the highest performing games in the industry."