Casino equipment maker announces deal with IGT

Wednesday, Feb. 19, 2003 | 11:01 a.m.

Shuffle Master Inc. of Las Vegas has entered into a licensing agreement with slot machine maker International Game Technology of Reno covering a series of patents held by Shuffle Master.

The patents cover a broad range of bonusing methods for video slot machines.

Terms of the agreement are confidential.

Shuffle Master will receive an undisclosed amount of cash as well as rights to certain IGT patents in exchange for IGT becoming exclusive licensee of the bonusing patents, the Las Vegas company said.

Given the broad nature of the company's patent, several other games already on the market may be infringing on the bonusing patent, Shuffle Master Chairman and Chief Executive Officer Mark Yoseloff said.

The company won't immediately turn to patent infringement suits but will explore several business options -- along the lines of the IGT agreement -- to receive the benefits of the patents the company has obtained, Yoseloff said.

Shuffle Master makes card shufflers, table game equipment, table and slot games and slot machine hardware.