|CasinoWebCam and The Home Gambling Network appear to have settled a long running licensing dispute today over the rights to a live online gambling patent. The companies entered into a licensing agreement in December 2003, but then appeared to fall out over the terms and conditions of Patent 5,800,268 the following April. |
Patent 5,800,268 is owned by HGN and concerns the ‘method of remote wagering on live games and events utilizing electronic transactions, and its corresponding foreign patents pending in Europe, Australia and Canada.’
When HGN, which has aggressively defended the patent in the past, announced the termination of the relationship last April, a swift announcement followed from CasinoWebCam denying the rift and claiming that the licensing agreement was still in full force.
Today a cagey statement was issued which would suggest that the two companies have reached some form of compromise. It reads:
“CasinoWebcam and Home Gambling Network today announced a settlement in their dispute regarding CasinoWebcam's rights in U.S. patent. The terms of settlement are confidential. However, subject to the terms of the Agreement, CasinoWebcam is licensed to use CWC software and services and to sell CWC software and services to prospective third party licensees and Home Gambling Network retains all other rights to its patents and intellectual property. “