sale of Double Down Interactive

IGT to sell Double Down Interactive LLC To DoubleU Games Co

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International Game Technology PLC – IGT – announced that it has signed a definitive purchase agreement under which it will sell its social casino subsidiary, Double Down Interactive LLC, to an affiliate of DoubleU Games Co., Ltd..  DoubleU Games Co., Ltd  is a leading global social casino operator headquartered in Seoul, South Korea.

Due to the fact that IGT sells Double Down Interactive LLC To DoubleU Games, a new multi-year strategic partnership between IGT and DoubleU Games will be established to provide innovative player experiences in the social casino market worldwide.

Marco Sala, CEO of IGT:

“Since acquiring DoubleDown in 2012, IGT has grown it into one of the largest and most successful brands in the North American social casino market. After several years of strong, organic growth and increasingly attractive valuation levels, the time is right for us to maximize the value of this asset for our shareholders. We will continue participating in the growth of the social casino market through our multi-year, strategic partnership with DoubleU Games.”
Ga-Ram Kim, CEO of DoubleU Games:

“This transaction represents a unique and value-accretive partnership combining the operational excellence of DoubleU Games with IGT’s world class slot content. With this partnership, we are excited and confident about DoubleU Games’ future as a global leader in social casino.”

Following the closing of the sale, the two brands will enter into a game development, distribution and services agreement. The newly signed deal will enable DoubleU Games to offer IGT’s casino game library on DoubleU Games’ social casino platforms for ongoing royalties to IGT.

IGT to sell Double Down Interactive LLC To DoubleU Games Co was last modified: April 21st, 2017 by CasinoNews.Today
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Source: IGT