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Shuffle Master, Progressive Gaming Ink Patent Deal

Shuffle Master (SHFL) has inked a deal with Progressive Gaming International (PGIC) to license a portfolio of jackpot-wagering hardware and method patents held by Progressive.

Shuffle Master, a gaming supply company, has the right to use the suite of 40-plus patents on tables and other games in any form including live tables, electronic single- and multi-player units and wireless-wagering devices. Shuffle Master also acquired the right to sub-license use of the technology.

In exchange for the royalty-free, worldwide license to the patents, Shuffle Master has agreed to make a one-time payment of $3.5 million to Progressive, which develops and distributes slot and table games as well as gaming-related software systems.

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