IGT and Acres Reach Settlement to End Legal Disputes
International Game Technology and Acres 4.0 have announced a resolution to all ongoing legal disputes, effective April 12, 2024.
The settlement, reached in the United States District Court of Nevada and concerning various issues including patent rights related to cashless wagering systems and breach of contract claims, concludes the legal standoffs between the two entities.
Focus on Future Collaboration
Nick Khin, COO of IGT Gaming, expressed satisfaction with the agreement, stating, “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.”
Similarly, John Acres, CEO of Acres, shared his enthusiasm about moving beyond the disputes, remarking, “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.”
Impact on the Gaming Industry
The resolution of these disputes is significant for the gaming industry, as it clears the way for both companies to collaborate on developing new technologies and systems for casinos.
This could potentially lead to advancements in cashless wagering, benefiting the broader casino and gaming sector.
While the specific terms of the settlement remain confidential, the announcement marks the end of litigation and a move towards a cooperative relationship between IGT and Acres.
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