IGT has been one of the most adventurous gaming operators this year. It has taken some very risky steps in the gambling world, and they have paid off. A recent report shows that IGT has experienced steady growth throughout the financial year and a boost during the final quarter. During the quarter ending September 30, IGT experienced $88.1 million in growth, up from $53.4 million during the same period of time in 2011. This has resulted in a total of $631 million revenue for the year, up from $539 million in the previous year.
IGT attributes this growth to its online division and land-based slots. These two sectors have seen a great deal of growth throughout the 2011-2012 financial year, and they present even more potential for growth into the new year.
The average price of gaming machines has increased by 2%, costing $14 500 each. IGT has shipped more than 44 000 of those slots games to casinos and gaming venues around the world, resulting in 23% growth in the land-based market.
However, it is in the online world where IGT really shone this year. According to financial reports, IGT has seen a 293% increase over the course of the financial year. This resulted in $144 million in profits in the interactive gaming market, which includes online gaming and social gaming.
So, it seems that IGT’s acquisition of Double Down Ltd was a profitable business decision. Although the company spent millions of dollars on purchasing the company, it seems to have been worth it. Double Down Casino is a free-to-play online gambling website, but there are plenty of in-game purchases to be made. Ad revenue also helps to boost profits or the company.
IGT is showing other online casino operators the way of the future in the online gambling world. Although social gaming may not be seem to be the most profitable venture in the market, it has the potential to earn millions of dollars for operators if managed properly. With these great results, IGT looks forward to another successful year in 2013.
