IGT Interactive has seen impressive financial results during the first quarter of 2015. Despite seeing a decline in the profits of its land-based pokies, the company’s online and social divisions continue to thrive. In a recent report by Innovate Gaming, IGT revealed its performance in the first quarter. The interactive division of IGT saw its revenue increase by 23% to $91.5 million.

Social gaming is also thriving, with its revenue increase by 23% to $79.4 million. At Double Down Casino, the social gambling site that was recently acquired by IGT, the number of daily average users (DAU) has increased by 11% to 1.9 million. In the land-based market, IGT’s product sales were down by 39%. The average price of machines had increased by 5% but casinos had purchased fewer games from the manufacturer.

Overall, IGT’s gaming operations revenue dropped by 5% to $211 million. These declines are likely due to the fact that the land-based poker machine market continues to struggle. Fewer players are visited land-based casinos to play pokies, and companies like IGT are seeing fewer profits as a result, due to venues purchasing fewer machines year-on-year.

Fortunately, IGT’s interactive revenue helps to make up for these losses. Double Down Casino and IGT’s real-money casino offerings continue to attract attention from online players, which will continue to boost the company’s profits in this sector. “Our continued focus on profitability has resulted in strong gross margins this quarter, including improvements in gaming operations gross margins,” says Patti Hart, CEO of IGT.

“While market challenges remain in the land-based casino business, our DoubleDown social casino generate a double-digit increase in both revenue and average daily active users in the quarter.”

About the Author

George Anderson
Author George, has over 25+ years’ experience in the Pokies and Casinos industry throughout Australia and New Zealand. Loves to research new Pokies games on the block and follows announcements from top industry providers about their upcoming releases. As soon as a new interesting pokie game appears on his radar, George is there to check it out and give you the scoop before anyone else and tell you about all casino sites where can play the latest game. Before this gig, George worked as Pokie game tester, making him an ideal candidate for this genre of work. He is also an animal lover and a proud owner of three dogs.