DoubleDown with IGT making the move for online casinos in Seattle

Seattle is making quick moves in the world of online casinos. At this moment, there are a number of companies, based in the city, working hard for producing online gambling operations for different mobile devices like iPhones and iPads as well as social bookmarking sites, which include Facebook.

For the time being, they are making use of the virtual chips and not the real money. However, there are high chances that the federal government might be looking forward for legalizing internet gambling within the coming year period. This will provide them with a way of boosting tax revenues. Once the fed removes the lock, real money might make its voice felt.

Early sign of what many believed was supposed to be a Gold Rush hit the shore in January 2012. It was when the Internet Game Technology, or IGT, bought DoubleDown Interactive, which is a video game company based in Seattle. The deal was worth close to USD 500 million. The Las Vegas based company paid half the money (USD 250 million) in cash. They have promised that in case their retention and revenue goals are met, they will pay the remaining sum.

At this moment, the primary business of IGT is making actual slots alongside a number of other gaming systems, which find use in different casinos. It was only last week that the company disclosed its quarterly earnings report, which indicated the actual worth of their bet on double down.

DoubleDown has helped the company in growing its revenue by more than 300 percent from interactive games only in the quarter itself. Other than that, there has been an improvement in the fiscal year by over 290 percent in the fiscal year as well, considering its position on September 30, 2011. The figure reported is USD 144 million.

It is believed that IGT is offering as much support as possible to DoubleDown for increasing its expansion in Seattle, so that once the smoke is cleared and online casinos are legalized in the city, they are in a position to make the most out of the situation.

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