LONDON and LAS VEGAS, March 1,
2021 /PRNewswire/ -- International Game Technology PLC
("IGT") (NYSE: IGT) and Scientific Games Corporation ("Scientific
Games") (NASDAQ: SGMS), today announced that they have signed a
cross-licensing agreement for patents related to cashless slot
gaming technologies. Under the agreement, Scientific Games and IGT
will be able to offer patented cashless gaming technologies from
the companies' combined portfolios of casino management systems
solutions to the U.S. gaming industry. Financial terms of the
agreement have not been disclosed.
As a result of this agreement, operators will now be able to
unlock the industry's most compelling portfolio of cashless gaming
technologies. By combining the strongest features of each Company's
cashless gaming patent portfolio, IGT and Scientific Games are
providing a solution for the gaming industry to quickly increase
adoption of cashless technology.
"This cross-licensing agreement provides casino operators access
to the gaming industry's most compelling portfolio of cashless
gaming technologies. We have made significant R&D investments
over many years to develop this comprehensive suite of intellectual
property in the cashless space. It makes revolutionary improvements
to the player experience and represents the greatest advancement in
cashless payments since the introduction of Ticket-In, Ticket-Out
(TITO)," said Renato Ascoli, IGT
CEO Global Gaming. "Cashless gaming is here to stay, and this
strong portfolio of cashless IP can help casino operators ensure
the safety of players by reducing cash handling and points of
contact with slot games, while considerably improving casino
operating efficiencies."
"At Scientific Games, we continue to find ways to extend the
benefits of our innovative cashless technology. This new program
allows SG and IGT to combine our leading IP for the benefit of our
customers, and our industry," said Matt
Wilson, CEO, Gaming Business Unit Scientific Games.
"Consumers are increasingly comfortable using cashless technology,
and they will continue to expect this option to be available on the
floor. We're excited to partner with IGT to make it easier for
operators to deliver for their players."
Through the agreement, each company will have immediate access
to the other party's cashless gaming patents.
About IGT
IGT (NYSE:IGT) is the global leader in
gaming. We deliver entertaining and responsible gaming experiences
for players across all channels and regulated segments, from Gaming
Machines and Lotteries to Sports Betting and Digital. Leveraging a
wealth of compelling content, substantial investment in innovation,
player insights, operational expertise, and leading-edge
technology, our solutions deliver unrivalled gaming experiences
that engage players and drive growth. We have a well-established
local presence and relationships with governments and regulators in
more than 100 countries around the world, and create value by
adhering to the highest standards of service, integrity, and
responsibility. IGT has approximately 11,000 employees. For more
information, please visit www.IGT.com.
About Scientific Games
Scientific Games Corporation
(NASDAQ: SGMS) is a world leader in entertainment offering dynamic
games, systems and services for casino, lottery, social gaming,
online gaming and sports betting. Scientific Games offers the
gaming industry's broadest and most integrated portfolio of game
content, advanced systems, cutting-edge platforms and professional
services. Committed to responsible gaming, Scientific Games
delivers what customers and players value most: trusted security,
engaging entertainment content, operating efficiencies and
innovative technology. For more information, please visit
scientificgames.com.
Cautionary Statement Regarding Forward-Looking
Statements
IGT
This news release may contain forward-looking
statements (including within the meaning of the Private Securities
Litigation Reform Act of 1995) concerning International Game
Technology PLC and its consolidated subsidiaries (the "Company")
and other matters. These statements may discuss goals, intentions,
and expectations as to future plans, trends, events, dividends,
results of operations, or financial condition, or otherwise, based
on current beliefs of the management of the Company as well as
assumptions made by, and information currently available to, such
management. Forward-looking statements may be accompanied by words
such as "aim," "anticipate," "believe," "plan," "could," "would,"
"should," "shall", "continue," "estimate," "expect," "forecast,"
"future," "guidance," "intend," "may," "will," "possible,"
"potential," "predict," "project" or the negative or other
variations of them. These forward-looking statements speak only as
of the date on which such statements are made and are subject to
various risks and uncertainties, many of which are outside the
Company's control. Should one or more of these risks or
uncertainties materialize, or should any of the underlying
assumptions prove incorrect, actual results may differ materially
from those predicted in the forward-looking statements and from
past results, performance, or achievements. Therefore, you should
not place undue reliance on such statements. Factors that could
cause actual results to differ materially from those in the
forward-looking statements include (but are not limited to) the
factors and risks described in the Company's annual report on Form
20-F for the financial year ended December 31, 2019 and other
documents filed from time to time with the SEC, which are available
on the SEC's website at www.sec.gov and on the investor relations
section of the Company's website at www.IGT.com. Except as required
under applicable law, the Company does not assume any obligation to
update these forward-looking statements. You should carefully
consider these factors and other risks and uncertainties that
affect the Company's business. All forward-looking statements
contained in this news release are qualified in their entirety by
this cautionary statement. All subsequent written or oral
forward-looking statements attributable to International Game
Technology PLC, or persons acting on its behalf, are expressly
qualified in their entirety by this cautionary statement.
Scientific Games
In this press release, Scientific
Games makes "forward-looking statements" within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words such as
"will," "may," and "should." These statements are based upon
management's current expectations, assumptions and estimates and
are not guarantees of timing, future results or performance.
Therefore, you should not rely on any of these forward-looking
statements as predictions of future events. Actual results may
differ materially from those contemplated in these statements due
to a variety of risks, uncertainties and other factors, including
those factors described in Scientific Games' filings with the SEC,
including Scientific Games' current reports on Form 8-K, quarterly
reports on Form 10-Q and its latest annual report on Form 10-K
filed with the SEC on February 18,
2020 (including under the headings "Forward-Looking
Statements" and "Risk Factors"). Forward-looking statements speak
only as of the date they are made and, except for Scientific Games'
ongoing obligations under the U.S. federal securities laws,
Scientific Games undertakes no obligation to publicly update any
forward-looking statements whether as a result of new information,
future events or otherwise.
IGT Media and Investor Contacts:
Phil O'Shaughnessy, Global Communications, toll
free in U.S./Canada +1 (844)
IGT-7452; outside U.S./Canada +1
(401) 392-7452
Francesco Luti, +39 3485475493; for
Italian media inquiries
James Hurley, Investor Relations, +1
(401) 392-7190
Scientific Games Media and Investor Contacts:
Media
Inquiries, media@scientificgames.com
Investor Inquiries, ir@scientificgames.com
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SOURCE Scientific Games Corporation