Scientific Games Corporation says it has reached a settlement with a group of companies led by Shuffle Tech International LLC that will see its liability more than halved following a recent court verdict against the global gaming giant.
A US federal jury ruled in August that Scientific Games had initiated frivolous litigation against the companies in an attempt to assert invalid patents on its automatic card-shuffling technology and prevent them from launching their own card-shuffling device. Shuffle Tech, which worked alongside DigiDeal Corp, Aces Up Gaming Inc and Poydras-Talrick Holdings LLC in developing its automatic card-shuffler, responded in 2014 by filing an antitrust lawsuit against Scientific Games.
The quartet were initially awarded US$105 million in August, which was then automatically tripled to US$315 million under US antitrust laws.
However, in an announcement released early Friday Macau-time, Scientific Games said it has reached a settlement that will reduce its total liabilities from US$335 million including attorney’s fees and costs to US$151.5 million.
“While we firmly believe that the jury decision was wrong, we are pleased with the outcome of the settlement and that this matter will be resolved for good,” said Scientific Games’ Chief Legal Officer and Executive Vice President, James Sottile.
The settlement is conditioned on the trial court entering an order vacating the judgment entered on the jury’s verdict, which Scientific Games said it expects to take place.