Davis Wright Tremaine LLP was happy to advise Double Down Interactive in its recent $500,000,000 sale to International Game Technology (IGT), one of the largest designers, developers and manufacturers of gaming machines in the world.
Formed in November of 2010, DoubleDown™ Casino was based on technology developed in a predecessor entity offering blackjack, slots, slot tournaments, video poker, and roulette to social gamers. In less than 14 months, the company grew from 10 to 70 employees, quickly skyrocketed into the world’s largest virtual casino and one of the top 4 social media games in 2011 as rated by Facebook. The fact that it was acquired for a half a billion dollars so quickly is a truly amazing story.
“DWT’s incredibly dedicated and responsive team provided the legal counsel and expertise that enabled us to negotiate the deal of a lifetime,” said Glenn Walcott, President of Double Down Interactive
According to AppData.com, DoubleDown™ Casino currently has 4.7 million monthly active users. With IGT’s investment, Double Down will expand from its current 70 full-time employees to 80. IGT said the move will propel it into the leadership of social gaming.
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