Playtech expands US offering with new IGT cross-licensing deal

London-listed gaming supplier Playtech has strengthened its online casino offering in the United States through a new licensing agreement with International Game Technology (IGT).

The deal allows Playtech to provide games to the market which include patented features from IGT’s extensive portfolio.

Playtech said that the agreement represents a significant step in its expansion plans in North America, having gone live with bet365 and BetMGM earlier this year in New Jersey.

“The agreement with IGT represents another significant milestone in the growth of our presence in North America as we build on the momentum of the past few months,” said Playtech chief operating officer Shimon Akad. “We look forward to offering the US market more of our market-leading software and technology in what is a rapidly growing US market.”

IGT chief operating officer Nick Khin commented: “We are delighted to have reached an agreement to provide Playtech with access to the largest game feature patent portfolio in the US.

“Working in partnership with Playtech will help propel our collective innovation and growth, and further validates our significant IP portfolio.”

Shares in Playtech plc (LSE:PTEC) were trading 5.01 per cent lower at 382.70 pence per share in London Monday morning, while shares in International Game Technology plc (NSQ:IGT) closed 0.86 per cent higher at $16.39 per share in New York Friday.