Analysts also view the shares as inexpensive. While the social casino investment thesis is largely overshadowed by iGaming and sports wagering, data confirms it’s on a torrid growth pace of its own, and DoubleDown is participating in that growth. lawsuit, IGT and DoubleDown have also resolved all indemnification and other claims between themselves and their respective subsidiaries and affiliates relating to the Benson Matters,” according to DoubleDown’s press release. Subject to final court approval of the settlement of the Benson v. The South Korea-based company did not comment on the extent of its current relationship with IGT in its own statement discussing the settlement. Plus, DoubleDown is an asset and capital expenditure light company. For example, its content library features Fort Knox, Megabucks, and Wheel of Fortune - three of the most successful slots games of all time from the International Game Technology (IGT) stable. Though it has tumbled since its September 2021 initial public offering (IPO), DoubleDown has some advantages investors may not yet be aware of. IGT took a $150 million related expense in the second quarter and said it will take a one-time charge of $119.75 million in the current quarter.

Under the terms of the settlement, IGT is paying $269.75 million into a settlement while DoubleDown is contributing $145.25 million. Federal District Court for the Western District of Washington,” according to a statement issued by IGT. The agreement in principle, entered into by certain subsidiaries of IGT and DoubleDown, remains contingent on final court approval by the U.S. That suit is tied to IGT’s June 2017 sale of social casino developer DoubleDown Interactive (NASDAQ:DDI) to DoubleU Diamond LLC, which is a unit of the gaming company. The company is settling litigation with DoubleDown Interactive. IGT’s famous Wheel of Fortune slot machines, seen on a gaming floor.

International Game Technology (NYSE:IGT) announced today it reached an agreement in principle to settle legal claims stemming from the Benson v. Financial, Gaming Business, Mergers and Acquisitions.

Doubleu down casino