Konami and Cadillac Jack Reach Settlement Regarding Konami's Action Stacked Symbols Patents

Konami Gaming, Inc., a global leader in casino gaming and systems, and Cadillac Jack, Inc., a provider of electronic games for the regulated global gaming industry, announced that they have reached a settlement agreement resolving pending infringement litigation to enforce certain Konami's Action Stacked Symbols® patents against various Cadillac Jack products. “We routinely enforce our rights against anyone we believe is infringing our Intellectual Property. In particular, Action Stacked Symbols represent a key piece of Konami's IP portfolio,” explained Steve Sutherland, chief operating officer and executive vice president at Konami. Cadillac Jack was cooperative after receiving notice that the litigation was filed and the two companies embarked on a process of information sharing to determine whether, and to what extent, Cadillac Jack's products utilized technologies that touched on Konami's patents. “At Cadillac Jack, we pride ourselves on our innovative technologies and unique content. When we heard of Konami's concerns, we were eager to collaborate with Konami to further differentiate our technologies from Konami's patents,” stated Mauro Franic, Cadillac Jack's chief operating officer. “We appreciate their professionalism throughout the process.” Sutherland added, “We were able to reach a mutual and amicable settlement agreement without the need to prolong the lawsuit. Both parties were happy to avoid unnecessary legal fees from protracted litigation.” The terms of the settlement are confidential.