DoubleDown Fuels Huge IGT Rev Growth
Any International Gaming Technology (IGT) employee who thought the company’s nearly half billion dollar purchase of DoubleDown Interactive was a bad idea is probably enjoying some nicely prepared crow for lunch today. That’s because the social casino is fueling triple digit revenue growth for the gaming giant.
According to IGT’s Q4 revenue report, as reported in EGR Magazine, DoubleDown is now driving a full 9% of the company’s overall revenue, around $219 million. That number represents an amazing 151% growth rate over IGT’s social gaming revenue for Q4 2012.
The DoubleDown story is one of the biggest success stories to come out of the social gaming world since the heyday of Zynga’s Farmville game.
This week’s report makes it perfectly clear that DoubleDown has snatched the social crown away from Zynga in a major way. EGR goes on to mention that IGT now owns around 14% of the total social gaming market.
DoubleDown’s phenomenal growth is all the more impressive given the company’s relatively small size and short history. The company has fewer than 80 employees and was founded in 2009. DD has built a huge online and mobile following by offering its entire social casino suite via a single app.