Igt Marking Time Until Online Gambling Is Legalised

IGT MARKING TIME UNTIL ONLINE GAMBLING IS LEGALISED

16th September, 2012 at 02:55:26
Source: http://www.azonlinecasinos.com

EURœ...right now, weEUR™re in a period of uncertainty with USA legislation, says IGT exec.

The scaling back of the IGT Poker network this week (see previous reports) 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 gambling any time soon due to political and legal uncertainty in America.

Melendres explained: Right now weEUR™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.

EURœFrom IGTEUR™s perspective, real-money gambling is ours for the taking EURŠ IGT is one of the very few companies thatEUR™s been on both sides so weEUR™ve been able to see what happens in the real currency world and social gaming side," said Melendres, explaining that the company's

EURœDoubleDown Partnership Program spreads the DoubleDown CasinoEUR™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 gambling will come to social poker games first. When this happens, casinos will offer online poker.

The beauty of what weEUR™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.

EURœWe want to be responsive to the marketplace. Right now weEUR™re focused on developing the DoubleDown brand and will continue to leverage that," said Melendres.

Ed Note: There are a number of casinos using IGT software that are consequently restricted by a lack of regulation in the USA and since IGT depracated their bespoke software platform, most have diversified their offerings to pull in content from other software providers.

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