Published
Mergers & Acquisitions

IGT completes sale of Double Down Interactive

Inte

IGT2017
rnational Games Technology (IGT) announced on Thursday that it has finalised the sale of its social casino subsidiary, Double Down Interactive, to an affiliate of DoubleU Games Co.

In April, the South Korean DoubleU affiliate agreed a deal to acquire Double Down Interactive for a cash purchase price of $825m.

IGT has said that it expects to use the proceeds from the transaction primarily to reduce debt.

“Today, we are also entering a long-term game development and distribution agreement with DoubleU Games for social casino content,” said Marco Sala, Chief Executive of IGT, in a statement included in Thursday’s release.

“This is an important development in supporting our strategy of leveraging our substantial content catalogue across multiple distribution platforms.”

He added: “Through this partnership with DoubleU, we will continue participating in the social casino market, as we will be collecting ongoing royalties on our casino game content.”
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Nederlandse Loterij
Relax Gaming
Hoiana Resort & Golf
Tipico
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...