International Game Technology, the Nevada slot and gaming machine manufacturer, and Las Vegas Gaming Inc. said late Tuesday that they had settled their lawsuit and agreed to a business and investment deal.
Under the terms of the deal, Las Vegas Gaming has agreed to create applications for IGT's server-based gaming systems; at the same time, IGT has agreed to make an $11.5 million investment in Las Vegas Gaming.
"We are delighted to have reached this win-win agreement with Las Vegas Gaming," Rich Schneider, IGT's senior vice president of network systems, said in a prepared statement. "This alliance demonstrates our continued commitment to the advancement of IGT's server-based initiative."