IGT and Konami Sign A Deal to Cross-License Their Game Patents
As a part of the business deal, Konami will introduce some of the games from IGT’s extensive portfolio while sharing its innovative game patents.
International Game Technology (IGT), one of the leading names when it comes to developing and providing omnichannel games, has just announced the latest business agreement.
The deal with Konami Gaming will enable the Reno-headquartered company to present its broad offer of premium content to a much wider audience, with the help of the Japanese gaming giants which have become a household name around the globe.
Increasing the Market Presence
Since IGT is present in different segments, including gaming machines and lotteries, but also interactive and social gaming, pairing up with one of the biggest distributors in the world will be beneficial to the company’s operations.
Konami has a vast experience, stretching over half a century, and beside its innovative and high-quality games, the company is well acquainted with the world of gambling since it also designs and produces slot machines and different casino management systems.
As a part of the latest business deal, Konami will introduce some of the games from IGT’s extensive portfolio while sharing its innovative game patents, and most importantly the deal will generate more revenue since Konami will pay the licensing fees to IGT.
Tomas A. Jingoli, Konami Gaming’s Executive Vice President and Chief Commercial Officer said the cross-licensing of games and patents would allow the two sides to share some of the best and most desired game features to customers worldwide.
The best example is Konami’s ‘Born from Fun’ gaming mission, which will further enhance the player experience when paired up with IGT’s patented mechanicals.
IGT has high expectations from the latest deal, hoping to show the full strength of its game patents and is looking forward to working closely with Konami.
Michael Prescott, IGT Senior Vice President and General Counsel, said the company hoped to continue collaboration across the industry. Prescott also added that IGT would keep investing in the growth of gaming.