IGT And FlowPlay Inc. Ink Deal

Mia Gardner | 15 Jun 2018

IGT And FlowPlay Inc. Ink DealMany fantastic partnership agreements have been concluded in the iGaming industry over the past year or two, and now yet another one has seen the light. This time it’s major gaming machine and systems developers IGT’s (International Game Technology) turn to have pooled resources with online social games developer and publisher, FlowPlay Incorporated. FlowPlay Incorporated is Seattle-based and has its roots firmly planted in the United States and of course, in the social gaming arena.

Shared Portfolio

IGT, a UK-based, London-headquartered online casino and igaming company, has announced by means of a press release that the agreement will position FlowPlay Incorporated in such a way that the social games company will be able to make use of IGT’s games portfolio in order to further develop community-based online social games. The agreement is what is commonly known as a cross-licence patent deal, whereby one developer may then make use official intellectual property belonging to another developer in order to enhance the portfolios of both companies.

New Industry Expansion

IGT’s North America Chief Executive Officer, Renato Ascoli, said that the company was especially excited at an opportunity to expand its development efforts into the social gaming industry and that it regarded FlowPlay Incorporated as the ideal partner for the endeavour. Ascoli explained by means of an official statement that FlowPlay Incorporated’s games portfolio was an extensive one to start with, consisting of a development package that included more than 45 casino-based game titles. The foundation is already in place for a huge cross-licence patent deal, especially with a prolific systems developer the size of IGT.

The idea is to extend the very excitement of land-based casino gaming into the digital social gaming market and enable social games players to experience the excitement of a real casino experience.

Reaching New Markets

Chief Executive Officer for FlowPlay Incorporated, Derrick Morton, is excited at the mutual benefits of the cross-patent agreement, saying that the deal will only serve to further build on the existing legacy of success that FlowPlay Incorporated has managed to establish up until this point in time. It’s very obvious that Morton is of the opinion that when partnering with the right partner and resources, the sky is absolutely the limit.

Morton concluded by saying that the ultimate goal was expansion in order to reach new audience markets and that this could be achieved by pooling resources in order to create a new dynamic.

 

Sources:

https://news.worldcasinodirectory.com/international-game-technology-agrees-flowplay-incorporated-deal-56285