Friday, January 13, 2012

news.casinolife

news.casinolife

International Game Technology to Acquire Social Gaming Company Double Down Interactive

Posted: 12 Jan 2012 03:58 PM PST

(LAS VEGAS – January 12, 2012) – International Game Technology (NYSE: IGT), the global leader in the design, development and manufacture of gaming machines and systems products, as well as online and mobile gaming solutions for regulated markets, has reached a definitive agreement to acquire Double Down Interactive LLC – a leading online social gaming company and developer of the popular DoubleDown™ Casino found on Facebook.

Patti Hart CEO IGT

Launched in April 2010, the DoubleDown™ Casino is the world's largest virtual casino and one of the top 4 social media games in 2011 as rated by Facebook.  According to AppData.com, DoubleDown™ Casino currently has 4.7 million monthly active users, up from 3.3 million in October 2011. With a broad and expanding portfolio, Double Down offers blackjack, slots, slot tournaments, video poker, and roulette to social gamers all around the world.

The total consideration includes $250 million in cash, $85 million in retention payments over the next two years and up to $165 million in cash payable over the next three years subject to Double Down meeting certain financial performance targets.  IGT expects to fund the transaction from cash on hand.

The addition of Double Down provides IGT instant size and scale in the fast growing world of casino-style social gaming and is expected to broaden IGT's popular gaming titles beyond the physical casino to Facebook, the world's largest social network with over 800 million global users.  This powerful distribution model is anticipated to provide IGT an opportunity to entertain players with consistent, ubiquitous, thrilling gaming experiences across multiple platforms.

"Double Down and IGT share complementary cultures focused on innovation and creativity.  Both companies are committed to providing unrivaled quality, service and entertainment to millions of players," said Greg Enell, CEO of Double Down.  "Leveraging IGT's Research and Development, global reach, and best-in-class content will provide our loyal player base with an even more robust experience and is expected to augment Double Down's growth trajectory."

"As technological innovations increasingly influence consumer behavior, social dynamics are quickly transforming entertainment and gaming experiences everywhere," said Patti Hart, CEO of IGT.  "The addition of Double Down launches IGT into a leadership position in social gaming, extends our global reach through new mediums, and leverages our unmatched expertise in game development.  We intend to drive meaningful value from this rapidly growing distribution platform that reaches a new, but complementary, demographic of gamers."

The transaction is estimated to be accretive to IGT's fiscal 2012 adjusted earnings and is projected to close within the second quarter of its current fiscal year.  Greg Enell will continue to lead Double Down and the company's operations will remain in Seattle, WA after the acquisition is complete.  Through the integration, IGT will operate Double Down with the appropriate level of independence needed to continue to foster exceptional growth.

Completion of the transaction is subject to customary closing conditions including, but not limited to, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.  The final purchase price is subject to certain post-closing adjustments.

Conference Call Information IGT will host a conference call regarding its acquisition of Double Down on Friday, Jan. 13, 2012, at 5:00 a.m. PST. The access numbers are as follows:

Domestic callers dial 888-606-7043, pass-code IGT

International callers dial 1-212-547-0361, pass-code IGT

The conference call also will be broadcast live over the Internet. A link to the webcast is available at the IGT website: http://www.IGT.com/InvestorRelations. If interested parties are unable to participate during the live webcast, the call will be archived until Friday, Jan. 27, 2012 also at http://www.IGT.com/InvestorRelations.

Interested parties who cannot participate at the time of the call may listen to a taped replay of the entire conference call commencing at approximately 7:00 a.m. PST on Friday, Jan. 13, 2012. This replay will run through Friday, Jan. 27, 2012.  The access numbers are as follows:

Domestic callers dial 888-568-0521

International callers dial 1-402-998-1495

About Double Down Interactive Double Down Interactive is the leading casual games developer of “fun to play” casino experiences on the Internet. With veterans from top online game companies, the team is committed to providing consumers an online social casino experience that is unrivaled by anything else available. Anyone can play at the DoubleDown Casino by visiting http://apps.facebook.com/doubledowncasino/ or www.doubledowncasino.com. Double Down Interactive is based in Seattle, Washington.

International Game Technology (NYSE: IGT) is a global leader in the design, development and manufacture of gaming machines and systems products, as well as online and mobile gaming solutions for regulated markets. More information about IGT is available at www.IGT.com or follow IGT on Twitter at @IGTNews or Facebook at www.facebook.com/IGT.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This press release contains forward-looking statements that involve risks and uncertainties concerning the proposed acquisition of Double Down Interactive, including the expected benefits of the acquisition to IGT and IGT’s strategic, financial and operational expectations for its business, including the Double Down business following the closing of the acquisition. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including, among others, the possibility that the transaction might not close or that the closing may be delayed, IGT’s integration of Double Down, its products, technologies and employees may experience difficulties, and the anticipated benefits of the transaction to IGT and its customers might not be realized. More information about potential factors that could affect IGT’s business and financial results is included in IGT’s filings with the Securities and Exchange Commission, including under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in IGT’s Annual Report on Form 10-K for its 2011 fiscal year, and available on the SEC website at www.sec.gov and on the investor relations section of IGT’s website at www.IGT.com. All information provided in this release is as of January 12, 2012 and IGT does not intend, and undertakes no duty, to update this information.

 

FutureLogic Announces Strategic Alliance with Leap Forward Gaming

Posted: 12 Jan 2012 10:44 AM PST

GLENDALE, Calif., — January 12,  2011 — FutureLogic, Inc., a leading manufacturer of thermal ticket printers and promotional couponing solutions for cashless gaming, announced today that it has formed a significant strategic alliance with
Leap Forward Gaming (LFG) of Reno, Nevada. This alliance offers gaming operators and manufacturers access to a comprehensive suite of connectivity solutions by combining FutureLogic's GEN2 Universal™ and GEN3 Evolution® ticket printers and the PromoNet® couponing solution with Leap Forward Gaming’s vast array of wireless technology products and offerings, including SaffariNet®.

"We are extremely pleased to combine forces with Leap Forward Gaming to fully realize the potential of our strengths in technology and product development and to further enhance the capabilities of our PromoNet couponing solution for gaming manufacturers and operators," said John Hilbert, VP for Systems Development and Strategic Technology Alliances for FutureLogic, Inc. "This strategic alliance will provide a wireless solution for issuing and redeeming promotional coupons linked to real-time game play for carded and non-carded players."

"By combining FutureLogic's expertise with our knowledge of wireless system development, we have achieved a key milestone on the road to a significantly enhanced casino floor," said Ali Saffari, CEO of Leap Forward Gaming. "This exciting alliance with FutureLogic will help us bolster our emerging leadership position to provide our patented, innovative, breakthrough wireless solution to the gaming industry, offering new levels of connectivity throughout casino floors in a cost-effective way."

The first innovative product of a multi-phase effort from the partnership is expected to be available to the gaming industry early in 2012.

About FutureLogic, Inc. Founded in 1983 and headquartered in Glendale, Calif., FutureLogic develops and supplies solutions for the gaming industry including high-reliability printer equipment and in-game promotional couponing solutions. As the undisputed leader in super-robust thermal printer technology, FutureLogic is the industry’s premier supplier of thermal printers for casino gaming, promotional equipment, kiosk, industrial, RTAL, gas pumps and medical applications. FutureLogic has shipped more than 1.5 million TITO printers worldwide. In July 2004 the company founded FutureLogic Europe, Ltd. to provide direct sales and engineering support for the growing OEM thermal printer markets in Europe. In October 2006 FutureLogic expanded its global support network into the Asia Pacific market, with a new sales and service center in Macau, China. In 2010 FutureLogic further supplemented its service and support platform with the opening of an office in Sydney, Australia, and in 2011 the company expanded its sales and marketing presence to cover South America. More information on the company is available at www.futurelogic-inc.com.

About Leap Forward Gaming, Inc. Leap Forward Gaming (LFG) specializes in the innovation, development, design, manufacture and operation of wireless communication systems. LFG’s wireless solutions and applications provide enhanced value to players, operators and manufacturers in gaming and non-gaming industries. LFG’s multi-disciplined team of gaming industry professional

 

APEX gaming attains manufacturer and product licence for Greek casinos

Posted: 12 Jan 2012 12:25 AM PST

APEX gaming has received both the manufacturing and product licence for the Greek casino market. The local Greek casino market remains one of the most important in the whole of Europe despite difficult general trading conditions in the country.

The number of slot machine manufacturers who are licensed to sell into the Greek casino market is limited. The fact that APEX gaming now belongs to this elite group highlights the true gaming offering that APEX gaming has.

Both upright cabinets, the Pinnacle 22" and the Dual Slim Line 19" are now licensed for sale to Greek casinos. Mr. Johannes Weissengruber, owner and CEO of the APEX gaming Group of Companies, is particularly pleased with this new certification, "We are proud to have received this important certification. The Greek casino market remains very important and strategic regardless of current trading conditions. The fact that we have received the licence now underlines our belief that the Greek casino market will remain of major importance".

APEX gaming plays a major role in the neighbouring gaming markets in countries near to Greece such as Albania, FYR Macedonia, Montenegro and Serbia. The interest and demand for APEX gaming has transcended the Greek border and now Greek players can look forward to playing APEX machines in their own country. The popular Multi Magic Classic games package with the 20 best APEX games is certified in Greece.