Doubledown Interactive is rolling the dice on an initial public offering, hoping to raise up to $100 million on the Nasdaq stock market.
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The company, which has long-standing roots in Seattle, produces popular casual games such as Doubledown Casino and Doubledown Fort Knox. It attracted 2.9 million game players per month last year, driving $273.6 million in revenue and $36.3 million in net income, according to financial statements disclosed in filings with the Securities and Exchange Commission.
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DoubleDown’s profits may set it apart from other tech-based companies that often enter Wall Street and show losses. Doubledown also turned a profit in 2018, reporting net income of $25.1 million. The company is also benefiting from the rise of online gaming during the coronavirus pandemic, with The New York Times recently reporting on isolated and home-bound gamers spending time playing games.
And Doubledown isn’t the only mobile gaming company testing the IPO waters, with Reuters reporting on Monday that Israel-based Playtica has hired Morgan Stanley to lead a public offering that could raise $1 billion and raise the value of casino-style games to about $10 billion. .
Doubledown’s headquarters are located in Seoul, while the main US engineering center is located in Seattle’s International District. It employs 280 people worldwide, including 149 in Seattle and 131 in Seoul.
The original Doubledown Interactive was founded in Seattle in 2010. It found success with its casino games on the Facebook platform before expanding into mobile gaming. Its four games — DoubleDown Casino, DoubleDown Fort Knox, DoubleDown Classic and Ellen’s Road to Riches — have been installed more than 100 million times. The company — at the time led in Seattle by Glenn Walcott, Greg Ennell and Cooper DuBois — was sold to Las Vegas casino giant IGT in 2012 in a deal valued at $500 million.
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The Seoul component of the business was established in 2008 by The8Games Co. Started as DoubleU Games Co., the entity later became DoubleU Games Co. in 2016. sells to A year later, DoubleU Games acquired DoubleDown Interactive from IGT for $825 million in cash, the year-long strategic partnership between IGT and DoubleU with multiples.
Late last year, DoubleU changed its name to DoubleDown Interactive. The CEO is In Keuk Kim, who previously served as CEO of WU.
Doubledown faces legal hurdles, including a class action lawsuit filed in the US District Court for the Western District of Washington in which plaintiffs argue the company’s games violate Washington’s Lost Money Recovery Act on Gambling Act and Consumer Protection Act. The plaintiffs are seeking recovery of all money lost playing the Doubledown game, arguing that game play and virtual chips are a form of gambling.
We have designed our games to award free virtual chips to players at different time intervals based on our players’ play behavior and patterns. We generate substantially all of our revenue from the sale of additional virtual chips, which players may choose to purchase at any time to enhance their gaming experience. Our Virtual Chips cannot be withdrawn from games, transferred from one game to another or from one player to another or redeemed for monetary value.
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DoubleDown’s games are free to play, and only 5.2 percent of the company’s game players pay for the virtual chips that drive its business.
“To retain paying players, we must devote significant resources to ensuring that the games they play maintain their interest and motivate them to purchase virtual chips through incentives and engaging content,” the company wrote in its IPO filing.
Doubledown ticker plans to trade on Nasdaq under DDI. Underwriters on the deal include J.P. Morgan, BofA Securities and Macquarie Capital. More details are available in the SEC filing here. It is a war against democratic values, human rights and peace. We can make an impact and help with our donations.
Do you like gold? If you do, you should check out the Welcome to Fort Knox game from Booming Games. Fort Knox Welcome Free Slots Online is a 5 reel HD slot machine with 20 pay lines dedicated to the United States Bullion Depository, known as Fort Knox. Despite the billion dollar field, the minimum bet is $0.60 and the maximum bet is $60 Your starting balance is $1000 This is a great Booming Games free slots with no registration required, so you can just get started. Gambling immediately. The game is compatible with mobile online slots iPhone and you can play wherever you want. If you love everything related to money and gold, this game is definitely for you, as this is the theme of the style of this game. You can play free video slots with no additional file download required.
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The game has features like Wild and Scatter. Free spins are triggered by 3 scatter symbols or more. Therefore, you can play a free spin game. This online game is friendly for new and experienced players. It is a 5-reel slot machine with 20 pay lines. The design of the game is great. The artists do everything to immerse a player in the atmosphere of the US bullion depository. Symbols include stamps with Lincoln, coins, gold bars, diamonds, dollars, etc All the markings are well made so you can see the smallest details The music of the game needs to be mentioned. It is wonderful and very gentle.
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Fort Knox Slot is a 5-reel video slot machine with 25 to 30 paylines. This IGT powered casino game has a historical theme and an RTP value that is between 87% and 95%. Bonus features include bonus rounds and a progressive jackpot that gives you a maximum win of £1,000,000.
From our research, we have compiled a list of the best Fort Knox slots sites in September 2022:
It offers 25 paylines and 30 paylines for 500 coins and 600 coins respectively. IGT named this slot machine after a US Army post of the same name in Kentucky adjacent to the United States Bullion Depository.
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But before playing for real money, players can try the game for fun without any download or any registration.
In this casino game, the game will assign players a goal to reach the start where they will get two picks.
The bonus round takes the player to a separate screen where the game reveals a vault with 16 safe doors.
The maximum bet for the 25-payline variant is £5.00 while the maximum bet for the 30-payline variant is £6.00.
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Meanwhile, the maximum possible payout is £1,000 which the player has a chance to receive if he can reach the Platinum level.
IGT, or International Game Technology, is a team of proven leaders who develop and deliver premium products and services to legal, regulated public and commercial gaming operators.
This payout percentage means the game returns between £87 and £95 for every £100 worth of bets.
You are able to play the Fort Knox Progressive Jackpot game for real money at IGT Online Casino.
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When you play at IGT Online Casino, you can play for a chance to win real money!
If you want to play this amazing game for free, you can enjoy it in demo mode!
When you play in demo mode, you will get to play interactive, bonus features, such as the chance to play slots, bonus funds, free slots, max cash and more!
Unfortunately, the real money bonus is unavailable in demo mode – but you can still enjoy this gambling site without the bonus.
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However, players can still experience this game first-hand by playing it at any land-based IGT casino.
Since IGT released these online slots in 2005, players will expect some of the game’s features and graphics to still be retro.
Nevertheless, the game is still as intense as other modern IGT slot games so the player will be immersed no matter what the level