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Greentube and IGT sign patent cross-licensing agreement

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Casino industry giants, Greentube/Novomatic and IGT partner to increase expansion across markets with a patent agreement.

The casino industry is built on partnerships and agreements, especially when it comes to expanding into new markets. Online casinos are able to reach new customers and provide new ways to play by partnering with top brands and providers.

A recent patent cross-licensing agreement between Greentube/Novomatic and IGT could prove to be a lucrative and exciting chance to expand into new parts of the world for both parties. Especially as both companies have plans to increase their reach in 2023.

Patent agreement

The execution of the agreement will be the perfect opportunity for IGT to offer the global gaming market exciting online gambling experiences. By combining the RGS portfolios of IGT and Greentube, there will be plenty of casino games reaching parts of the world that have never had the chance to do so before.

IGT's CEO of global gaming, Renato Ascoli, commented on the new agreement saying:

"This agreement continues the spirit of collaboration and innovation that IGT seeks to foster in our industry. We look forward to providing the entire gaming industry with the opportunity to license the combined RGS portfolios of IGT and Greentube, which cover compelling technologies for delivering games to customers wherever they play."

More than just casino games, the patent includes patents to remote game server technologies. This includes lotteries, game mechanics, reporting services, apps, customisable game consoles, promotional features, and much more.

Global expansion

One of the most important aspects of an agreement like this is what it offers each brand and its ability to reach new customers.

Across the US and Canada, IGT is well known, offering different ways to play to many US and Canadian casinos. But Greentube does not have the same brand strength.

However, on the flip side, Greentube and Novomatic are names most households throughout the EU are familiar with. This gives IGT a chance to expand to EU casinos while Greentube can finally feature in Canada.

With a smart and mutually beneficial relationship such as this one available, it only makes sense that these casino powerhouses would join forces.

When asked about the new agreement, Greentube CEO Thomas Graf commented:

"We are very pleased to reach this significant intellectual property agreement with IGT, as Greentube continues to expand its premium gaming products and solutions.

The combined RGS portfolios of Greentube and IGT are truly state-of-the-art, representing a combined prowess and gaming industry leadership that is well positioned to fuel continued success."

Currently, there is no information regarding the financial impact of this agreement and what it will mean for either company.

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