Scientific Games, IGT team up for cashless slot patent

Scientific Games, IGT team up for cashless slot patent

Scientific Games has formed a strategic tie-up with International Gaming Technology (IGT) as the two leading gaming innovators plan to roll out patents for cashless slot gaming technologies.

Scientific Games to Power Lowen Play GmbH’s New Casino Games

Cashless Transactions

Scientific Games and IGT inked a cross-licensing that would enable the groups to offer patented cashless gaming technologies from their combined portfolio of casino management systems solutions to the US gaming industry. The deal also gives both companies immediate access to the other party’s cashless gaming patents.

Renato Ascoli, IGT CEO Global Gaming, revealed in the press release that they invested time, money, and effort for the development of a cashless technology compatible with slot machines.

“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).

He also pointed out that ‘Cashless Gaming’ will soon become a norm in the industry as companies strive to provide a safer and more convenient gaming environment.

“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.”

Unlocking Potential

The groups haven’t revealed yet the financial terms of their agreement. Still, the operators are poised to unlock the industry’smost compelling’ portfolio of cashless gaming technologies.

Prior to the deal with Scientific Games, IGT has already taken steps towards attaining its goal of creating a cashless gaming environment. Last January, the group launched Resort Wallet cashless gaming tech in Nevada, which promotes cryptocurrency as an alternative to ordinary cash.

Matt Wilson, the CEO of Gaming Business Unit Scientific Games, commented on the landmark deal with IGT.

“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.”

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.