New York-listed International Game Technology (IGT) has signed another cross-licensing agreement with a rival supplier, this time with Australia's Ainsworth Game Technology.
As the holder of the largest slot game feature patent portfolio in North America, IGT has now signed deals with some of the leading gaming suppliers including Scientific Games, AGS, Aruze Gaming, Incredible Technologies and Konami Gaming.
"We have reached industry-wide momentum with the cross-licensing of IGT patented game features," said Michael Prescott, IGT senior vice president and general counsel, North America Gaming & Interactive.
"We're very pleased to add Ainsworth Game Technology to the impressive list of suppliers who have worked with us to establish an IP pool that can help drive the gaming industry's collective innovation."
Ainsworth CEO Danny Gladstone added: "As we position Ainsworth for future growth, we are pleased to have reached this cross-licensing agreement with IGT.
"It will provide us with access to an industry-wide game feature patent portfolio that we can leverage to enhance our market offerings with games that excite and engage players."
Shares in International Game Technology plc (Co. Data) (NYQ:IGT) closed up 1.15 per cent at US$24.56 per share in New York Thursday, while shares in Ainsworth Game Technology Ltd (Co. Data) (ASX:AGT) rose by 4.08 per cent to AUD$2.55 per share in Sydney earlier Friday morning.