IGT's head of interactive Melendres steps down

Robert Melendres is to step down from his role as executive vice-president of interactive at International Game Technology (IGT), and will leave the company at the end of the year.

IGT revealed chief financial officer John Vandemore will take over the role with immediate effect in a filing with the Securities and Exchange Commission today. Melendres will report in to Vandemore until he leaves IGT on 1 January 2014.

The news comes ahead of IGT’s Q4 financial report due to be published on Thursday. IGT’s interactive division posted Q3 revenues of USD$72.5m, a 69% year-on-year increase and equal to 12.5% of the company’s total revenue.

During Melendres’ tenure, IGT completed the acquisition of social gaming company Double Down Interactive for $500m, whose Double Down Casino flagship is one of the largest gambling-related apps on Facebook.

The acquisition of Double Down help IGT posed 11% year-on-year rise in overall revenues to $600m during the second quarter of 2013.

IGT’s other interactive revenues excluding social gaming were up 26% year-on-year. It has signed up 15 new partners in the past 12 months, the most recent being Betsson which is set to introduce slots content from IGT across a number of its mobile and desktop sites.