Stockholm-listed casino games supplier NetEnt has removed a barrier to its entry to the US iGaming market by sealing an intellectual property patent cross-licensing agreement with International Game Technology for the North American market.
The agreement allows NetEnt to offer games in the US that include any of the patented game features contained in IGT’s portfolio, with the company describing the deal as a “big step forward” to its entry to the market.
“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,” NetEnt Americas managing director Björn Krantz commented.
IGT’s senior vice president of global interactive product marketing Matteo Monteverdi said he was very pleased to have reached the agreement to provide NetEnt with his company’s patented game features.
“Working in partnership with NetEnt enables us to further validate our significant IP portfolio,” he explained.
NetEnt is currently preparing to enter the New Jersey online gaming market, and expects to see its games go live in the second half of the year. The company is looking to take advantage of expansion opportunities in markets on the east coast of the US, with chief executive Per Eriksson picking out Pennsylvania and New York as potential targets in a recent interview with Gaming Intelligence.
Shares in Net Entertainment AB (Co.Data) (OMX:NETB) are currently trading down 0.16 per cent at SEK316.00 per share in Stockholm this morning, while shares in International Game Technology plc (Co.Data) (NYSE:IGT) closed up 0.28 per cent at $18.17 per share in New York yesterday.