When IGT announced its acquisition of DoubleDown Casino in January last year, most people baulked at the hefty price tag, yet consistently high revenue figures have vindicated the deal. Now the company is preparing for the next phase of the app’s development as it targets expansion in poker and bingo.
With revenue from DoubleDown Casino doubling in IGT’s 2013 financial third-quarter to $61.4m, IGT vice president of interactive Robert Melendres has set his sights on the next phase of growth, which could see it go head-to-head with the likes of Zynga Poker and Bingo Blitz by spinning off branded social poker and bingo offerings.
Currently attracting over 5m monthly active users, the DoubleDown app remains one of the most popular casino apps on the market and is ranked among the top three for social poker, but Melendres believes the product is only just beginning to take shape. The target now is to establish DoubleDown as the number one social casino app across all verticals.