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An acquisition of Seattle-based Double Down Interactive (DDI) by video poker giant International Game Technology was announced after the markets closed on Thursday. The deal was for $500 million.
From All Things D:
The deal includes $250 million in cash, $85 million in retention payments over the next two years and up to $165 million in cash payable over the next three years subject to Double Down meeting certain targets.
DoubleDown Casino has 1.3 million daily active users and 4.7 million monthly active users, according to AppData. Facebook ranked it fourth among its most popular games of 2011 based on user reviews. Tricia Duryee of All Things D reported back in May that the company generated $140,000 per day.
This news is especially significant in the wake of a Department of Justice decision publicized last month (though arrived at this past September) not to apply The Wire Act to poker and online casino games.
There is much talk that Facebook could decide to begin offering real money play at some point in the not-so-distant future.
More Poker News Headlines Heading Into Friday, January 13, 2012:
Yatahay Changes its Name to Winning Poker Network – As first reported by Gambling911.com, in a move reflective of its industry-leading product offering and proven dedication to the online poker community in the United States, the Yatahay Poker Network has announced a name change. Effective January 12, 2012, the Yatahay Poker Network has been renamed The Winning Poker Network. [Gambling911]
Faraz Jaka Continues to Hold His Own at PCA 2012 Main Event – At time US-based player Faraz Jaka has led the PokerStars Caribbean Adventure 2012 Main Event and continues to hold strong among the final 12 left standing (or sitting) at press time.
The chip leaders in order…
Xuan Liu
Kyle Julius
Lee Goldman
Faraz Jaka
Martin Jacobson
Phil D'Auteuil
Anthony Gregg
Ruben Visser
David Bernstein
Daniel Shiff
John Dibella
Mark Drover
- Patrick Flanagan, Gambling911.com
