Tag Archives: DoubleDown

IGT settles long-standing DoubleDown lawsuit at a cost of $269m


IGT Plc has settled ‘in principle’ its multi-million-dollar lawsuit filed by ‘Benson Matters’ made against its former DoubleDown subsidiary.  This morning, the NYSE gambling technology group announced that it had agreed to contribute a $269m payment of a wider settlement of $415m that will end legal proceedings that have been ongoing since 2018. Acquired in 2012 for $500m, DoubleDown is …

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IGT write down of North America Interactive unit sees Q3 operating losses of $550m

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

Foreign exchange losses combined with a write-down impairment charge of $714 million has seen New York-listed gambling firm IGT Group Plc declare Q3 2017 net losses of $804 million. Publishing its Q3 2017 trading update (period ending 30 September), IGT disclosed a period group operating loss of $556 million, primarily attributed to its $714 million write-down charge of its ‘North …

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