News

Cashless gaming technology patented

March 19, 2002

LAS VEGAS - A new technology may virtually eliminate the need to carry cash at casinos, according to a news release issued by Innovative Gaming Corp. of America(Nasdaq: IGCA).

IGCA announced it had acquired eight patents that will allow credit, debit and ATM cards to be used to gamble on slot machines. According to the release, there are two million slot machines in the world.

The new system is designed to detect underage and unauthorized gamers, and allows players to set financial limits prior to playing. It invokes a cooling off period if a player reaches his self-set limit.

IGCA was formed in Minnesota in 1991 and became a public company in 1994. It moved its operations to Nevada in 1995. The company develops and distributes products to the gaming industry.