International Game Technology’s DoubleDown Casino is expanding its horizons in sync with a growing demand for virtual gaming software. Bingo is now featured as one of the many casino-style games already available at DoubleDown. The most exciting aspect is the option to play bingo on Facebook with the ‘free-to-play’ application also launched by IGT. As part of a rapidly growing social gaming market, IGT stands to significantly increase the revenue via their gaming platform.
BI Intelligence predicts that the 5.2 million active daily participants will more than double by 2015 – increasing from the current earnings of $2.0 billion to an anticipated $5.5 billion annually. IGT anticipates new contracts as well as international expansion as the social gaming market booms. The effect that IGT and IGT Cloud Services will encounter is expected to be well-received by casino properties, both virtual and land-based. Stock recommendations remain neutral for the current time as the initial stages of expansion could involve costly product development costs for the short term.
Introducing BINGO to the Mix!
Virtual bingo fans can now play at DoubleDown casino as the International Game Technology expands its service and presence in the social gaming market. While launching the new Bingo game at DoubleDown, IGT also provides the gaming platform and application that allows Facebook users to play free bingo with a downloadable application. In this completely new version of Bingo players enjoy 12-carded plays per round compared to the typical 4-carded standard offer at other sites.
Additionally, players may now experience bingo using theme rooms such as ‘High Orbit’, Fashionista, Art Deco, and more. Catering to bingo enthusiasts of all levels the application allows players to select their speed of play depending upon their skill-set. Another pleasing feature is the option to play in automatic or manual modes. The new bingo application on Facebook is expected to boost the player base for the company.
Social Gaming Market – Contemporary Demands
IGT presented bingo to the already existing plethora of games available to gaming enthusiasts at DoubleDown and they will not stop there! Plans to market the bingo and casino-style gaming products to land-based casinos in the near future. Furthermore, the company sealed deals with the Hard Rock Hotel and Casino in Las Vegas and Jacobs Entertainment last month. The DoubleDown platfrom stands to fare well in the social and mobile gaming industry with enormous growth potential. Recently winning new contracts, the relatively new company is emerging as a market leader with remarkable potential for expansion.
The vast product portfolio offered by IGT stands to grow as it maintains expeditious development and progress in the gaming industry. Investment recommendations remain neutral for the time-being, however, due to the nature of product development in which operating costs can be driven up during this phase of growth. While this may imply a ‘hold’ rating for the short term the long term potential is extremely positive as more, and more, and more bingo fans and gaming buffs flock to the social gaming arenas.