IGT’s financial results important to investors
IGT’s financial results are always eagerly anticipated by their investors, as well as by everyone else connected with the gaming industry. IGT is the biggest gaming company in the world, and they will attract attention on a global scale whatever their financial results may be, as they may be an indication of the position of the gaming industry as a whole. They have fairly recently become extremely involved in the online casino business, and being now also involved with the first genuine social casino, their earnings in this respect is achieving even more attention than usual.
The fourth quarter of the year offered a net loss, which was offset as the profits for the full year increased by at least nine percent. IGT’s latest revenues boosted by social casino gaming was based largely on the increasing popularity of their social casino brand, Double Down.
Latest Results Boosted By Double Down Social Casino
IGT’s net income for the three months ending 30 September was down on the same period in 2012. Overall revenues for the complete financial year, however, increased. Income generated by the Mega Jackpots land based slots games was lower than forecast. Naturally, these positive results for the year as a whole are a sign of increasing growth. At the core of this growth is Double Down, which has been the subject of a reform in recent months so the casino will integrate better with the IGT brand. IGT’s latest revenues boosted by social casino gaming means this casino is dedicated to offering players online casino gaming, of exactly the same quality that the usual online casinos offer, but now through Facebook. IGT has approached the casino platform by bringing some of their best known games to this casino. Double Down also gives IGT and their partners another increasingly profitable outlet for their games, as several of the land based operators who usually combine operations with IGT, are also coming on board with their games.
The results of this investment have been impressive. IGT’s latest revenues boosted by social casino gaming, and are greatly improved over the same time a few years ago. Daily active users on the platform increased by twenty percent, and monthly active users increased by thirty two percent. The net result of this investment is that Double Down games recently overtook Zynga’s social poker game as the most valuable social casino games on Facebook.
Social Gaming a Plan for the Future
Social gaming is only one piece of IGT’s achievement plan for the near future. IGT’s latest revenues boosted by social casino gaming is just a part of their planned revenues for the future. According to the CEO of the company, IGT is planning on becoming a global gaming ecosystem that is ubiquitous across all platforms and devices.
IGT, which has headquarters in both Las Vegas and Reno, said that IGT’s latest revenues boosted by social casino gaming, is the reason for the good year round profits of the company. Certainly social gaming revenues, attributable to Double Down’s contribution to gaming on Facebook, have reached an amount double that achieved a few years ago. The growth in Double Down can definitely be attributed to IGT’s best known slot games being used on the social gaming markets. IGT also plans to convert one game every other week to the social game platform.