Analysts clearly had the looming impact of Internet poker on their collective minds during a recent question and answer session with IGT officials who have bought Double Down Interactive, the developer of Facebook’s Double Down collection of online casino games, for $500 million.
IGT’s purchase of the game provider has been explained as a move to position IGT for big things to come as the demand for Internet gaming products heats up.
The IGT response to the flurry of Double-Down-related questions generally amounted to this: It will be the third or fourth quarter of this year before there is sufficient information to say anything significant about what Double Down brings to the IGT balance sheet.
But CEO Patti Hart has not budged an inch from her contention that IGT’s plan to strengthen its industry-leading position as a supplier of game products will benefit from the Double Down purchase.
That said, some casino executives have privately grumbled that IGT is trying to eat its cake and have it too.
Louisiana’s state-regulated casinos all won less money in April than in March. The drop totals $35.8 million. The exceptions were 8.7 percent increases at both L’Auberge Lake Charles and the slots casino at the New Orleans Fair Grounds.
Atlantic City’s Revel formally completed a Chapter 11 restructuring that saw it wipe away $1.2 billion of its $1.5 billion in debt, in return for granting lenders an 82 percent ownership stake.
Cantor Gaming announced today it has released future odds on NFL season wins. The company is offering advanced wagering on weeks 1 through 16 of the NFL season, in addition to wagering on NFL season win totals, Division odds and Super Bowl odds.
Terrible’s Hotel & Casino began its transition to a new identity by uninstalling its iconic Terrible’s Cowboy neon sign on Monday. The property will become the Silver Sevens Hotel & Casino in July.
Vegas Sports Books | The LVH Super Book threw out all kinds of cool NFL stuff on Sunday that will give bettors something to chew on for a while. They posted their games of the year along with their season win totals.
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