Financial results from IGT almost always entail something of a stir in the industry. Such is the strength and longevity of the brand that virtually everyone in the casino industry, from game designers to the casinos themselves, sit up and take notice. IGT is also in the somewhat unique position of being the biggest company in the world when it comes to land based casino gaming while never quite cracking the nut that is online gaming. However, that is all changing and many of our readers will have noticed an increasing number of online casinos offering IGT titles, including MoneyGaming, Mr Green and Bet365. Indeed, as long as you’re in one of the approved territories then you can even sample the likes of Wolf Run and Da Vinci Diamonds right here on Mr Gamez, proving that the online market definitely forms a core part of the modern IGT strategy.
The financial results cover the third quarter of 2012 and definitely serve to prove that IGT is on the right track. In terms of numbers, net income rose from $46.6 million a year earlier to $65.7 million, with an 8.7 per cent rise in companywide revenues to $579 million.
Undoubtedly the highlight of the results is the performance of IGT’s unique DoubleDown Casino proposition. The social gaming platform that includes many of the company’s major titles saw revenues reaching $61.4 million. This is not only more than double the previous year, but even a 13 per cent increase over the second quarter of 2012. DoubleDown Casino is available online, on mobiles and through Facebook and the results are particularly eye-catching following Zynga’s withdrawal from the market. In effect, casino companies that enter social gaming are having a far better time of things than social gaming companies that enter the casino market.
IGT’s land based slot revenues rose 12 per cent to $259.2 million, while gaming operations revenues, where cash is shared with the host casino, fell only 4 per cent to $247.3 million. This slight fall was accounted for by something of a stagnation among the MegaJackpots range of games with many players heading online to play the same games but with the increased jackpots offered by a worldwide network.
IGT’s CEO Patti Hart was concise when commenting on the results, saying “Our momentum continues and is bolstered by our focused attention on the execution of our business strategy and positive leverage from the broad distribution of our best in class content.”
IGT remains the go to provider when it comes to land based slots and they provide the backbone of many of the operations of our highlighted land based casinos featured here on the site. Be sure to check out our reviews to find out more about the games and atmosphere on offer around the world. Alternatively, you can check out IGT slots at the casinos mentioned earlier in the article, or play some of the very best games from the company right here at Mr Gamez with no signup required.