Published By Mia Gardner : 15 Jun 2018 | Last Updated: 24 Dec 2020
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.
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.
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.