IGT strikes social casino cross-licensing deal with FlowPlay
Flowplay to boost game development capabilities with patented features from the IGT portfolio
IGT has announced the signing of a cross-licensing deal with social casino gaming developer FlowPlay.
Under the terms of the agreement, FlowPlay will develop games with patented features from the IGT portfolio and generate licencing fees which will be paid back to IGT. The full financial terms of the agreement were not disclosed.
IGT has been without a social gaming business since selling Double Down Interactive to fellow social gaming developer DoubleU Games Ltd for $825m last June.
IGT has signed a number of these cross-licensing deals over the past twelve months, most notably with fellow gaming technology heavyweight Scientific Games.
Speaking about the deal, Renato Ascoli, IGT CEO North America said: “We are excited to expand our game feature patent licensing efforts to online social casino game development with FlowPlay.
“FlowPlay offers more than 45 different casino-style games already, and this agreement helps to ensure that even more of the authenticity and excitement of land-based casino gaming extends to players in the online social space.”
Derrick Morton, FlowPlay CEO added: “Partnering with industry leader IGT provides us with a phenomenal selection of patents that we can leverage to expand our scope of development and suite of online social games to ultimately reach new audiences.”