The parties signed a licensing agreement that grants Progressive Gaming a worldwide, non-exclusive license to practice ISWI’s existing patent portfolio regarding sports wagering.
ISWI will receive an initial license payment, as well as an ongoing royalty based on product placement milestones and the revenues generated by RBL as well as other related products.
"We are pleased to have reached a settlement with Progressive Gaming," said Bernard Albanese, CEO of Interactive Systems Worldwide. "We look forward to focusing on growing the business and pursuing new opportunities for Interactive Systems," he added.