IGT interactive revenues up 23% in Q1
Social division also posts double-digit growth to help partially offset decline in land-based business
International Game Technology (IGT) has posted a 23% increase in interactive revenues for Q1 FY15 after social gaming arm DoubleDown and B2B business IGTi both recorded double-digit growth.
The group’s interactive revenues totalled US$91.5m (£60.2m) for the three months ended 31 December 2014, and DoubleDown Interactive continued to be the main contributor.
Revenues at the social casino giant jumped 23% to $79.4m with daily active users (DAU) increasing 11% to 1.9m.
Monthly active users (MAU) dipped 16% YoY from 6.2m to 5.5m, which IGT said was due to “increased marketing efforts” to attract “higher quality players”.
Bookings per DAU were up marginally to $0.43, and mobile revenues for the period accounted for 39% of the total, a 68% increase on the same quarter last year.
Revenues from IGT’s B2B online slots business IGTi were also up 23% to $12.1m.
The bulk of IGT’s interactive revenues were derived from North America, which accounted for $81.5m, or 91% of the total.
Despite an improved interactive performance, total IGT revenues were down 17% to $451m, a decrease the firm attributed to declines in land-based product sales.
“While market challenges remain in the land-based casino business, our DoubleDown social casino generated a double-digit increase in both revenue and average daily active users in the quarter,” Patti Hart, IGT chief executive officer, said.
The results come as IGT shareholders prepare to vote on GTECH’s planned $6.4bn acquisition of the firm next month, with the takeover due to complete later this year.