IGT Spends $500 Million on Acquisition of Double Down Interactive

International Games Technology is really aiming to make a splash in the online gambling world. Even though the developer already has a vast web presence, IGT is still looking to expand. One way in which the company plans on doing so is by acquiring social games developer Double Down for a huge $500 million.

Double Down Interactive is one of the most successful social gaming operators on the web. If you don’t know what social gaming is, here is a quick overview:

Social games are those offered by social networks like Facebook. They allow players use the Facebook interface to play games and by doing so, they are able to share their information with other players via their Facebook walls and timelines. Players can also use the social network to invite their friends to join them.

Double Down already has a fairly impressive Facebook casino application, with over 4 million visitors every month. IGT’s acquisition of the company will certainly in the company a large spot in the social gaming market. In the process, IGT will become one of the first official gambling operators to foray into the social gaming industry.

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