• Light & Wonder to pay Aristocrat $190M for misappropriation of IP
• Light & Wonder to cease commercialization of Dragon Train and Jewel of the Dragon games
• Parties agree to confidential procedures for resolving use of Aristocrat math in existing and future games

Light & Wonder, Inc. (Light & Wonder) and Aristocrat Leisure Limited (Aristocrat) have agreed to settle their pending litigation in Australia and the United States. The litigation was brought by Aristocrat following the launch of Light & Wonder's Dragon Train game, which Aristocrat contended was developed using Aristocrat's trade secrets and copyright works. Aristocrat later made similar claims against Light & Wonder's Jewel of the Dragon game. Under the settlement, Light & Wonder has agreed to compensate Aristocrat USD $127.5 million (approximately AUD $190 million) in respect of the claims for misappropriation and infringement of Aristocrat's intellectual property. Light & Wonder has acknowledged that certain Aristocrat math information was used in connection with the development of both Dragon Train and Jewel of the Dragon. Light & Wonder has agreed to permanently cease commercialization of these games globally and to make best efforts to remove existing installations.The parties have also agreed to confidential procedures for identifying and resolving any issues concerning the use of Aristocrat math in connection with certain existing Light & Wonder hold and spin games and certain hold and spin games now in development, including games for which Light & Wonder was ordered to produce math models to Aristocrat in the United States litigation. Aristocrat's claims against Light & Wonder in Australia and the United States will be dismissed.Both Light & Wonder and Aristocrat acknowledge the significant investment and innovation that goes into game design and development, including the complex and confidential underlying math, and the need to ensure protection of those valuable, proprietary assets. Both parties agree that maintaining protection of these valuable proprietary assets, and respecting intellectual property rights, is critical to ensure fair competition among all participants in the gaming industry.