International Game Technology (IGT) announced that it has resolved its conflict with Acres, marking the end of the legal hostilities between the two companies. While the exact terms are yet to be announced publicly, IGT emphasized that the agreement would resolve all outstanding legal disputes.
IGT also mentioned that the resolution was reached in the United States District Court of Nevada. The case revolved around patent-related violations that Acres allegedly committed. According to IGT’s earlier claims, Acres’ Foundation casino management system violated the former company’s patents.
For reference, the Foundation product offers casino management solutions to its partners. This includes cashless solutions for brick-and-mortar casinos. The product was recently updated and rebranded as Foundation HQ.
According to IGT’s allegations, 4 of the 200 patents it holds were violated by its competitor’s product.
After a legal battle that lasted several months, the two parties have finally come to an agreement, resolving the patent dispute.
The Companies Will Focus Their Efforts Elsewhere
Nick Khin, IGT’s chief operating officer of gaming, commented on the matter, saying that his team is pleased to have resolved the issue. According to him, the end of this conflict would allow the two businesses to refocus on more important matters.
IGT is pleased to reach a mutual agreement with Acres that resolves all disputes between us. This allows us to dedicate our collective resources where they are better served, driving continued innovation in the exciting and evolving cashless gaming space.
Nick Khin, COO, IGT
Acres’ chief executive officer, John Acres, also commented the matter, praising IGT for working with Acres to resolve the matter.
We are thrilled to put this matter behind us and work cooperatively with IGT to build exciting new gambling experiences that can increase both player enjoyment and casino profits.
John Acres, CEO, Acres
In other news, IGT recently refreshed its leadership team with several new noteworthy appointments. The new additions followed the publication of IGT’s financial results, which showed that the company has achieved its FY 2023 goals.
A new study by Acres, meanwhile, highlighted the impact advantage players have on loyalty programs.