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IGT Waiting for Legal Online Gambling
Sunday September 16, 2012 : IGT MARKING TIME UNTIL ONLINE GAMBLING IS LEGALISED
“...right now, we’re in a period of uncertainty with U.S. legislation,” says IGT exec.
The scaling back of the IGT Poker network this week has again brought into focus International Game Technology's online gambling plans, and it appears that these centre on leveraging its DoubleDown Casino social gaming acquisition to prepare for real money online gambling.
In a revealing interview with the publication Inside Social Games, IGT's vice president for emerging business, Robert Melendres, discussed the purchase of Double Down Interactive earlier this year for around $500 million, but said that the company is not planning to get in on real-money gaming any time soon due to political and legal uncertainty in America.
Melendres explained: ”Right now we’re very much focused on taking social gaming product and driving that very, very hard as a way of helping our casino properties leverage online gaming.”
That doesn't mean that IGT is not interested in real money online gambling when the time is right and conditions favourable.
“From IGT’s perspective, real-money gaming is ours for the taking … IGT is one of the very few companies that’s been on both sides so we’ve been able to see what happens in the real currency world and social gaming side," said Melendres, explaining that the company's
“DoubleDown Partnership Program” spreads the DoubleDown Casino’s presence on the Web by allowing customers to incorporate the game into their own casino sites.
This serves three purposes: It allows IGT to stay connected to their players, providing a casino floor experience from anywhere; it creates an incentive to come back to the actual casino; and everyone gets to make money because the casinos are enabled to engage in revenue sharing.
Melendres opined that real-money gaming will come to social poker games first. When this happens, casinos will offer online poker.
”The beauty of what we’re doing right now is that I truly believe the DoubleDown Partner Program is a superior offering to the poker program,” he said.
The IGT exec acknowledged that conversion rates to real money action in social gaming tend to be low, but that only a small percentage of the massive numbers of social gamers was necessary to make a viable business.
Interestingly, he commented that conversion rates are not dissimilar to those experienced during the early days of Internet gambling, and suggested that this could rise as the sector develops.
“We want to be responsive to the marketplace. Right now we’re focused on developing the DoubleDown brand and will continue to leverage that," said Melendres.
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Live Dealer Now At Slotocash -
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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.
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 -
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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 -
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