Aristocrat Leisure scores $190m settlement and ends Light & Wonder litigation
Aristocrat Leisure secured a $190 million settlement from Light & Wonder, resolving a dispute over intellectual property infringement and ending ongoing litigation.Summary
Aristocrat Leisure Ltd (ASX: ALL) has reached a $190 million (USD $127.5 million) settlement with Light & Wonder (ASX: LNW), concluding a legal battle concerning the alleged use of Aristocrat’s intellectual property in competing games. Light & Wonder will permanently cease sales of the Dragon Train and Jewel of the Dragon games globally and destroy related documents containing Aristocrat’s proprietary information. The settlement includes the dismissal of litigation in both Australia and the US, and establishes confidential procedures for addressing potential future intellectual property concerns.
Aristocrat CEO Trevor Croker stated the company “welcomes fair competition but will always robustly defend and enforce its intellectual property rights,” emphasizing the importance of innovation to their success. A preliminary injunction secured in September 2024 had already recognized that Light & Wonder developed Dragon Train using Aristocrat’s trade secrets.
The settlement is expected to provide Aristocrat with a significant cash inflow, supporting further investment in product innovation and growth. Despite the positive outcome, Aristocrat’s share price has declined 19% over the past 12 months, underperforming the S&P/ASX 200 Index, which rose 6% during the same period.
(Source：Fool Australia)