Paradise Entertainment & IGT Sign EGT Technology Patent Transfer Agreement

Intenational Game Technology (IGT) has announced that one of it’s subsidiary and a subsidiary of Paradise Entertianment have entered into an agreement which will allow Paradise to transfer all of it’s Electronic Table Game (ETG) technology and intellectual property (Table Game IP) to IGT, but the agreement exempt Table Game IP exclusively make for Macau regulated gaming market from the deal.

This revelation was contain in a publication posted by IGT on it’s website on 25th April 2016.

The publication further said, IGT will pay Paradise an upfront fee plus an ongoing earn-out based
on placement of products utilizing the Table Game IP over a 15 year term.

Closing of the agreement is subject to Paradise obtaining
requisite shareholders’ consents and approvals.

The agreement provides IGT with exclusive rights to Paradise’s Table Game IP for the development, manufacturing, and distribution of Live and Random Number Generator (“RNG”) electronic table games worldwide, except in Macau where Paradise subsidiary LT Game will remain the exclusive
provider of its market leading electronic table game products.

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