freeringo
01-30-2012, 09:48 AM
This week in gaming news, IGT ponies up another $500 million to secure its place as the front-runner in the American online gaming industry. There isn't an actual industry yet, but with its latest acquisition, IGT is dominating it. On the other side of the country, MGM is joining the race for a Massachusetts casino license. It's too early to pick a front-runner there, but at least there's a guaranteed prize.
International Game Technology isn't playing any games when it comes to the future of the gambling industry. Determined to position itself as a leader when the Internet age reaches the United States, IGT bought Swedish poker network Entraction in May for $115 million. IGT was among the first companies to apply for a license when the Nevada Gaming Commission gave intrastate online poker a green light in December. And last week, the Nevada-based slot manufacturer put even more money where its mouth is, reaching an agreement to pay up to $500 million for online gaming company Double Down Interactive (Facebook Poker).
International Game Technology isn't playing any games when it comes to the future of the gambling industry. Determined to position itself as a leader when the Internet age reaches the United States, IGT bought Swedish poker network Entraction in May for $115 million. IGT was among the first companies to apply for a license when the Nevada Gaming Commission gave intrastate online poker a green light in December. And last week, the Nevada-based slot manufacturer put even more money where its mouth is, reaching an agreement to pay up to $500 million for online gaming company Double Down Interactive (Facebook Poker).