The resolution was reached in the United States District Court of Nevada, directed to United States patents that pertain 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.
"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 Gaming.
Adds John Acres, CEO of Acres, "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."
The case starts in October 2023 when Acres 4.0's flagship product, Foundation, developed cashless casino management systems to increase efficiency in land-based venues. In October, the company announced an upgrade to the Foundation system, Foundation HQ.
The case centred on IGT's claim that Acres' Foundation casino management system product infringed four of the company's 200 patents and asserted that Acres owed royalties to IGT for the Foundation product, which increased the cost of the product to casinos.
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