IGT Completed DoubleDown Interactive Casino Sale
International Game Technology (IGT) – the global omni-channel leader that boasts an integrated portfolio of gaming-related technology, products and services – has successfully finalised the sale of its DoubleDown Interactive social casino.
An affiliate of DoubleU Games Co. has become the proud owner of DoubleDown casino in a purchase deal worth $825 million. Deal to acquire the business was agreed in April and is now fully realized.
International Game technology (IGT) intends to invest the generated funds to help reduce company’s debt.
Completion of the DoubleDown sale deal was confirmed by Marco Sala, company’s chief executive, who explained that a ‘long-term game development and distribution agreement for social content has been reached with DoubleU Games’.
“This is an important development in supporting our strategy of leveraging our substantial content catalogue across multiple distribution platforms. 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.”, he said.
About DoubleU Games
DoubleU Games Co., Ltd. is a Korea-based company.
DoubleU is a developer principally engaged in creating online games with a portfolio consisting of social media-oriented titles. DoubleU casino games can be played in Facebook, android system, iOS and Kindle fire.
The Company distributes its products within domestic market and to overseas markets and its agreement with IGT will definitely expand its footprint in the global gaming landscape.
Initially established as an American gaming company with headquarters in Las Vegas, International Game Technology was acquired by Gtech which then adopted the IGT name to preserve the brand awareness and reputation of this global gaming power.
In addition to slot games the company is best known for, IGT has stepped into the interactive wagering world, supplying casino and slot games to various online gaming sites.