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IGT Waiting for Legal Online Gambling

“...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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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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