DoubleDown drives IGT revenues

DoubleDown drives IGT revenues

Wednesday, July 24, 2013

IGT announced third quarter net income of $65.7m, up from $46.6m a year earlier. The Las Vegas-based gaming company also revealed a rise in company-wide revenues of 8.7pc, to $579m.

Social gaming revenues — attributable to IGT’s DoubleDown Casino application found on the Internet, Facebook and mobile devices — reached $61.4m, more than double the revenues produced in the same quarter in 2012 and up 13pc over the second quarter. IGT said there were 1.7m average daily users of the company’s free play social gaming products in the quarter, a 25pc rise on the previous year.

IGT’s revenues from slot machine sales grew 12pc, to $259.2m in the quarter, while revenues from gaming operations — slot machines in which IGT shares revenues with casinos — fell 4pc to $247.3 million, primarily because of lower revenue from the company’s MegaJackpots games.

“Our momentum continues and is bolstered by our focused attention on the execution of our business strategy and positive leverage from the broad distribution of our best-in-class content,” IGT CEO Patti Hart said in a statement.

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