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IGT's agreed acquisition of casino-style game developer, Double Down, has experts asking if real-money gambling is next for Facebook.
Leading online casino software manufacturer, International Game Technology (IGT), has agreed to buy self-styled virtual casino, Double Down, for up to $500m.
Double Down was launched on Facebook in 2010. It is the dominant casino product and the fourth most popular game on the social network, with 1.4m daily active users.
As Facebook has previously spoken about allowing real-money wagering in authorized jurisdictions, IGT's acquisition of Seattle-based Double Down could help make real-money gambling on Facebook a reality.
Greg Enell, CEO of Double Down, told internet magazine, Geek Wire, that he is excited about working alongside IGT to build slots for Double Down and about incorporating big-name brands like Sex & The City, Wheel of Fortune and DaVinci Diamonds.
The $500m deal comprises $250m in cash, $85m in retention payments over the next two years and $165m in performance-related payments over the next three years. The deal is expected to close in March.
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