International Game Technology and Acres Manufacturing Tuesday announced that the companies have reached an agreement to resolve all legal disputes between them.
According to a statement issued by both companies, the resolution was reached in the United States District Court of Nevada and “directed to U.S. patents pertaining to facilitating 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.”
“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,” said Acres Manufacturing CEO John Acres in a statement.
Acres founded Acres Gaming, which was purchased by IGT in 2003.
In November 2023, the U.S. Patent and Trademark Office ruled in favor of Acres in its dispute with IGT. IGT claimed that Acres’s Foundation casino-management system violated four of 200 patents held by the company. IGT also claimed that Acres owed IGT loyalties for the Foundation product.
“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 IGT Chief Operating Officer Gaming Nick Khin.
