IGT and Acres have reached an agreement to resolve all legal disputes between the two companies, the gaming technology suppliers confirmed on Tuesday. Terms of the settlement have not been disclosed, although representatives for both firms have expressed satisfaction surrounding the outcome of the case.
The resolution was reached in the United States District Court of Nevada, directed to United States patents that pertain to facilitating the use of a financial transaction device in a cashless wagering system in a gaming system, and Nevada State Court directed to a breach of contract claims.
IGT had accused Acres of patent infringement on at least four patents out of a larger pool of over 200 assimilated patents pertaining to cashless wagering. The claim underwent a detailed court analysis, including an evaluation of functional design to ascertain any violation.
In November, the U.S. Patent and Trademark Office rejected IGT’s claims against Acres. According to a statement from Acres at the time, the USPTO rejected each claim asserted by IGT against the company following a thorough review of the four patents.
“IGT is pleased to reach a mutual agreement with Acres that resolves all disputes between us. This allows us to dedicate our collective resources where they are better served, driving continued innovation in the exciting and evolving cashless gaming space,” said Nick Khin, IGT COO of Gaming.
John Acres, CEO of Acres, added: “We are thrilled to put this matter behind us and work cooperatively with IGT to build exciting new gambling experiences that can increase both player enjoyment and casino profits.”