Most recent month Double Down Interactive, a primary web based social gaming vendor as well as initiator of the well known DoubleDown Casino available on Facebook, closed a definitive settlement to be bought by slot machine brand manufacturer International Game Technology company for $500 million.
Started in April 2010, the DoubleDown Casino is the world’s prime online casino websites and also among the list of the top notch four (4) social networking games in 2011 as rated by Facebook. As described by AppData.com, DoubleDown Casino at present has 4.7 million month-to-month active individual users, up from 3.3 million in October 2011. Double Down contains online black jack, slots, slot game tournaments, online video poker in addition to online roulette to social internet gamers throughout the world.
The total price consists of $250 million in hard cash, $85 million in retention repayments over the afterwards two years in addition to up to $165 million in cash payable during the the following 3 years subject to Double Down meeting given business execution targets. IGT expects to fund the transaction from cash on hand.
Moreover Double Down allows IGT instantaneous volume and balance in the fast growing world of casino-form social gaming, as well as is estimated to expand IGT’s famous gaming titles far beyond the offline betting houses to Facebook, the world’s largest social net with on top of 800 million global participants.
“Double Down and IGT share complementary traditions focused on novelty and imagination,” mentioned Greg Enell, CEO of Double Down. “Each of firms are committed to delivering unrivaled quality, service and entertainment to millions of players. Leveraging IGT’s research and development, universal reach, and also best-in-class content will provide our committed gamer base with an even more quality experience and is anticipated to augment Double Down’s progress trajectory.”
“As technological advancements progressively effect consumer conduct, social strengths are speedily remodeling entertainment and gaming experiences everywhere,” claimed Patti Hart, Chief Executive Officer of IGT. “The inclusion of Double Down features IGT into a leadership outlook in social gaming, extends our universal reach through unique mediums, and leverages our matchless expertise in game development.”
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