IGT to acquire Double Down Interactive

This amount is 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.

Launched in April 2010, the DoubleDown Casino is a 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 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.

"Double Down and IGT share complementary cultures focused on innovation and creativity.  Both companies are committed to providing unrivalled 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."