The companies have signed a cross-licensing agreement for patents related to cashless gaming solutions in their respective portfolios.
"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 TITO," said Renato Ascoli, IGT CEO of global gaming.
The two suppliers will have access to the other’s cashless gaming patents effective immediately; although the financial details of the deal have not been announced.
“The alliance will combine key new technology and development initiatives utilizing Scientific Games AEGIS Video Control systems and IGT Advantage systems products, including Accounting, Patron Management, Bonusing and the EZ Payticket system, for use in the rapidly growing government-sponsored gaming, pari-mutuel wagering and commercial gaming markets,” IGT said in a statement.
Matt Wilson, CEO, Gaming Business Unit Scientific Games, added: “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."