IGT and Scientific Games combine intellectual property
An unprecedented deal surfaced only days ago between the 2 brick and mortar giants, Scientific Games (SG) and IGT. Indeed, according to the terms, the pair will join forces to serve their land-based clients better. And consequently, the 2 veterans will get access to each other’s cashless gaming patents. The unusual alliance between the rivals surprised many market analysts in the online gambling community.
After all, SG has been working on improving its platform versatility for offline use. And IGT has also enhanced its technology to serve patrons better.
Of course, many saw cashless payment in online and offline casinos as the future. We all know that apps storing money are increasing in popularity. So, it makes sense to join their efforts. Yet the predicted $500 billion worth of gaming revenues in the next 5 years could have been a driving factor to speed things up and create this alliance.
The vision and the dream coming to a reality.
Cashless transaction is a dream that Ted Keenan, VP of Product at SG, has long had. Indeed, in a March 2019 interview, Ted once said, wouldn’t it be great if you could “fund your gaming wallet, put money onto slot machines, (buy chips at a) table game, buy a buffet ticket or do whatever you want” via a single interface?
Sure, the health crises may have precipitated things a little. Nonetheless, It’s a vision they long had. And so did IGT. Years ago, IGT deployed its Cardless Connect technology. Back then, the app was revolutionary since it enabled patrons to transfer money between various brick and mortar casinos (owned by the same operator). As IGT’s CEO pointed out, they invested a lot in developing a cashless solution. And SG’s Video Control systems should complement their EZ Pay ticket, management, and gratification systems. This way, everyone wins in the end.