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Seattle angel investor scores from IGT acquisition of social casino product
 
The $500 million dollar deal that saw IGT take over Double Down Interactive earlier this year brought with it a serious return on investment for Seattle angel investor Ron Erickson, reports the publication Xconomy.
 
"The Double Down saga was one of those fascinating hit-it-big entrepreneur tales," the publication observes in its interview with Erickson, a technology entrepreneur and investor who has experienced the peaks and valleys of investment in start-ups like Double Down.
 
Erickson was cagey about how much he put into the company, but Xconomy claims it was less than a million dollars - the amount spent on developing the company's first commercial offering. And Erickson admits that the DD investment has given him the most significant return of all his endeavours.
 
Cooper DuBois and Scott Wilburn, the co-founders of DD with Greg Enell already knew Erickson from previous enterprises in which they had come together, so when they approached the investor with their DD ambitions he listened carefully then wrote out a check to augment the profits the two founders were putting into the new business.
 
The company's first blackjack game for Facebook launched in the spring of 2010, and Double Down started earning money on it immediately, pouring the proceeds back into further development to improve the product.
 
By January 2012, the land casino industry had locked on to the possibilities of social gaming with Caesar's Entertainment’s purchase of the Israeli company Playtika, and IGT moved in on DD shortly thereafter. Since then a slew of social gaming oriented deals have taken place, bringing internet, mobile and land interests together.
 
Erickson told Xconomy that he remains sanguine about the spread of gambling online. It’s an inevitable development, he observed, noting the established precedent in the U.K., among other places, and the thirst for tax revenue by local governments.
 
“It’s an activity that appeals to people’s base emotions," Erickson said. "In this Puritan nation in which we live - and that’s really what it is - we struggle with that. And people in other parts of the world do not struggle with that, because they’re not burdened with the Puritan ethic that goes to the core of our culture.”
 
Erickson commented on fears in some quarters that the spread of online gambling could adversely impact land casino business.
 
“I think there are people in the real-world gaming industry that are really feeling the inevitable. If you can have a robust experience in your own home, and gamble, and win and lose money, that’s certainly a threat,” Erickson says. “The IGT purchase of Double Down was brilliant, absolutely brilliant. Clearly, the ability to extend their branded products … into the virtual space just makes so much sense.”



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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