LIT is a leased game. A casino pays by the month to use them. Almost all casino games besides BJ, craps, roulette, baccarat, and regular Pai Gow are leased games. Everyone is copywriting new games today. Just imagine the income from inventing a game and leasing out 500 tables around the world. Most new games that make it wind up being bought out by companies such as Shuffle Master.
Leased games have a high hold on them to overcome the monthly payments.
Example BJ holds 17% and higher. A casino would not pay to use a game that held 17% or lower. Most leased games hold in the 25% and higher range.
The 1st leased game that comes to mind is Carribbean Stud. It was written by a customer of the FQ's poker room while I was manager. He was a drug addict and took it to the islands for casino testing because he could not get a NV casino vendors license. It was a huge sucess with 1,000's of tables out there. If I remember right Paul-Son was the 1st to buy the NV rights and distribute the game. I think Mikohn now distributes it. Our little friend from the FQ's poker room became very rich from it even though the deal with PS was a straight buy out of the NV rights because he could not recieve any NV royalties.
A new game in NV can only be licensed if a casino agrees to beta test it for the owner and go through the license process with it. I negociated an agreement at The Fiesta to beta test and license a new game. In the agreement we would get the rights free for life for going through the process. The deal did not happen because it took the copywrite holder too long to get gaming approval for the beta test (*this in itself is a long process) and the Fiesta was sold.
* Vendor must be licensable and furnish a test version so gaming can test the payouts and hold to make sure they are what the vendor says they are. Millions of hands are run in the odds testing stages.
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