International Game Technology (IGT) has officially put an end to its ongoing legal dispute with Acres. Although the precise conditions of the settlement have yet to be made public, IGT has assured that all existing legal issues will be addressed in the arrangement.
The settlement was reached in the United States District Court of Nevada. The lawsuit centered on alleged infringements of patent laws by Acres. IGT claimed that Acres’ Foundation casino management system trespassed on its proprietary patents, according to prior allegations.
The aforementioned Foundation product provides management solutions for casinos, including cashless operations for physical casinos. The product has recently been remodeled and rebranded as the Foundation HQ.
In their assertion, IGT pointed out four infringements among the 200 patents it currently holds by the competitive offering.
After a fierce legal skirmish lasting several months, agreement has finally been reached between the two companies, effectively terminating the patent squabble.
Shifting Corporate Efforts to More Important Issues
Nick Khin, IGT’s Chief Operating Officer of Gaming, expressed satisfaction at achieving an amicable resolution. He stated that the conclusion of this dispute would allow both companies to redirect their resources towards more critical tasks.
IGT is gratified to conclude a mutually agreed settlement with Acres which addresses all outstanding issues. This enables us to refocus our collective resources to more productive areas, thereby driving ongoing innovation in the burgeoning and dynamic cashless gaming industry.
Nick Khin, COO, IGT
Acres’ CEO, John Acres, also imparted his thoughts on the amicable conclusion, lauding IGT for its cooperative attitude throughout the resolution process.
We are elated to put this issue behind us and collaborate with IGT in creating novel gambling experiences that have the potential to enhance player entertainment and deliver increased profits to casinos.
John Acres, CEO, Acres
On a related note, IGT has recently revitalized its leadership with several significant appointments. These appointments followed on the heels of IGT’s latest financial report which indicated that the company had successfully met its FY 2023 objectives.
In contrast, a recent study conducted by Acres zoomed in on the impact of ‘advantage players’ on loyalty programs.
