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.”

About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.