Popular pokies provider International Game Technology has experienced some fantastic growth over the course of the past few months. During the second quarter of the year, the company has posted a 26% increase in revenue – thanks to its expansion into the social gaming market as well as other upgrades and developments.
In the online casino market, IGT’s business fell by 4.4%; however, the company notes that this is due to some unprofitable ventures in European markets. Excluding those markets, IGT’s online profits have actually increased by 7%. International Game Technology’s social gaming offering continues to grow.
The company’s purchase of Double Down Interactive continues to prove itself as a worthwhile investment, as IGT earns a great deal of ad revenue from the application. The play-money casino also encourages players to try the company’s games at real-money gambling destinations, acting as a very successful form of advertising and helping to boost the company’s overall growth.
“We had some really excellent games hitting the floor,” says John Vandemore, CEO of International Game Technology. “On interactive, we couldn’t ask for better results”. It was only a few months ago that IGT investors criticised the company’s foray into the social gaming market. They will likely want to eat their words, now that IGT is reaping huge benefits from entering into the world of social games.
The company’s land-based operations continue to be the most profitable venture for IGT. In North America, casinos and gaming clubs purchased an impressive amount of replacement games and upgrades. In total, IGT sold 8400 replacement games, a 68% jump from last year. The sale of new pokies brought in $297 million, a 16% increase from 2012.
In both online and land-based markets, IGT is performing very well. The experience pokie manufacturer shows no signs of slowing down, and will continue to see further growth in the future.
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