LAS VEGAS, Aug. 26 /PRNewswire-FirstCall/ -- Gaming Partners International Corporation (Nasdaq: GPIC), a worldwide leader of casino currency and table games equipment, announced that it has entered into an RFID License and Transfer Agreement with International Game Technology (NYSE: IGT) covering certain high-frequency RFID rights and products including software related to a Chip Inventory System ("CIS"), a newly developed communication platform to integrate RFID data into a variety of casino management systems and a license to certain other RFID related intellectual property and assets.
As a result of the agreement, GPI has acquired the ability to develop, manufacture and distribute additional high-frequency RFID products and systems worldwide. Together IGT and GPI will provide for transition of sales, support and service of IGT's current high-frequency RFID customers.
Casinos worldwide continue to increase their desire for RFID technology in both low (1.25 KHz) and high (13.56 MHz) frequencies. Previously, GPI held rights and licenses for low-frequency RFID products and software systems, as well as limited rights for high-frequency products. This transaction, which provides GPI access to certain RFID related intellectual property for the 13.56 MHz Phase Jitter Modulation technology and the rights to IGT's CIS, will enable GPI to converge RFID applications for the two frequencies and add improved functionality, security and communications with a range of casino systems.
GPI's low-frequency and IGT's high-frequency systems have been the most widely implemented chip tracking technology in the marketplace. Both employ RFID-based capabilities to provide casino operators with the tools necessary to maintain an accurate real-time inventory of the entire stock of chips, and securely and efficiently transfer gaming chips to each table across the casino floor into the cage areas and all validation points. Subsequent to this transaction, GPI's customers will now have a larger array of RFID options and solutions.