By Michael Bearnoff
Last time period Double Down Interactive, a primary virtual social gaming firm and also developer of the favorite DoubleDown Casino located on Facebook, signed a specified contract to be acquired by slot brand manufacturer International Game Technology company for $500 million.
Launched in April 2010, the DoubleDown Casino is the world's prime online casino as well as among the list of the top 4 (four) social channel games in 2011 as measured by Facebook. Based on the AppData.com, DoubleDown Casino at this time has 4.7 million monthly active players, moving upward from 3.3 million in October 2011. Double Down facilitates online blackjack, free slots, slot game competitions, online video poker in addition to online roulette to social internet gamers worldwide.
The total consideration consists of $250 million in hard cash, $85 million in sustaining transactions over the the following 2 years and also up to $165 million in cash payable for the the following three years subject to Double Down gathering given financial performance targets. IGT expects to fund the transaction from cash on hand.
In addition Double Down provides IGT timely measurement and ascend in the fast growing arena of casino-form social gaming, and is expected to broaden IGT's famous gaming titles outside the physical betting houses to Facebook, the market's most popular social net with on top of 800 million worldwide registered users.
"Double Down and IGT share complementary norms focused on innovation and imagination," reported Greg Enell, CEO of Double Down. "Both companies are committed to delivering unrivaled quality, service and entertainment to millions of online players. Leveraging IGT's research and development, universal reach, and also best-in-class content will present our committed gamer base with a many more robust feeling and is anticipated to augment Double Down's growth trajectory."
"As technological advancements progressively effect consumer conduct, social strengths are quickly remodeling entertainment and gaming experiences all over," mentioned Patti Hart, Chief Executive of IGT. "The adding of Double Down features IGT into a leadership outlook in social gaming, extends our universal access by way of completely new mediums, and leverages our unrivaled experience in game structuring."
Facebook games come to be incredibly trendy and also can include black jack online - the best casino game played worldwide.
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