iGaming’s Oddest Alliances
iGT & DoubleDown Casino
The social casino boom is definitely responsible for a few strange bedfellow in the igaming industry. That said, industry watchers were seriously scratching their heads last year when International Gaming Technology purchased DoubleDown Interactive for $250 million up front and just about that same amount in incentive-based payments.
After all, DoubleDown Casino was just two-years-old and the social casino boom was just rolling out of the station. What would the industry’s top software maker want with that?
As it turns out, DoubleDown Casino is a social goldmine with a massive audience that includes plenty of free spenders. The app’s unique, one-stop-shop, approach to the popular medium is a big hit with end-users and that massive investment added around $30 million to iGT’s bottom line, in the first year alone.
Odd alliances can sometimes equal big payouts.
Tags: Mergers and Acquisitions