Acres And IGT To Resolve All Pending Litigation, Effective April 16, 2024; Terms Of The Settlement Have Not Been Announced
Portfolio Pulse from Benzinga Newsdesk
International Game Technology PLC (IGT) and Acres have agreed to resolve all pending litigation by April 16, 2024. The settlement terms are undisclosed. The litigation involved U.S. patents related to cashless wagering systems and breach of contract claims. Both companies expressed positive outlooks towards future cooperation in the gaming industry.
April 16, 2024 | 1:47 pm
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IGT has reached a settlement with Acres to resolve all pending litigation, with terms undisclosed. This resolution clears legal uncertainties and allows IGT to focus on innovation in the cashless gaming sector.
The settlement of litigation with Acres removes a significant legal overhang for IGT, potentially freeing up resources for innovation and collaboration in the cashless gaming space. This resolution is likely to be viewed positively by investors, as it eliminates the uncertainty and potential financial liabilities associated with ongoing litigation. The focus on future cooperation between IGT and Acres in developing new gaming experiences could also open up new revenue streams and enhance market positioning.
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