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IGT, social gaming and the $500m gamble

19th January 2012 11:10 am GMT

$500m?! Let’s write it down in long-hand: five hundred million dollars. No, half-a-billion dollars. Phew, no matter how you write it, it’s still a helluva lot of money.

Late Friday, IGT CEO Patti Hart confirmed she had splurged half-a-billion dollars on facebook app developer Double Down Interactive (DDI). That’s about $400m more than it spent on Entraction. It’s two 888s, a quarter of bwin.party...it’s a lot of money for a company that, depending on the source, [...]

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