Founders of DoubleDown Casino Leave IGT
Two years after their company was purchased by IGT, the founders of the social gaming product DoubleDown Casino have left the company.The news comes after IGT’s first-quarter earnings release in which the company said a profit decline was likely due to a number of “acquisition-related expenses” related to DoubleDown.
IGT spokesman Phil O’Shaughnessy has confirmed the departure of Greg Enell and Cooper DuBois.
A gaming analyst from Janney Montgomery Scott, Brian McGill, has said that the departure of the DoubleDown founders is “another negative data point for the company” as he attributed much of the product’s success to them.
He went on to say that, “It will now be up to IGT management to fill the void that has been created by these departures. It is unclear what the future holds for the two founders and at what point they could potentially compete against DoubleDown.”
However, O’Shaughnessy said that DoubleDown’s founders have worked with IGT “to ensure that a strong senior leadership team is in place to continue the success of IGT’s DoubleDown.”
At present DoubleDown has more than 1.7 million average daily users with players spending an average of 42 cents per day to buy virtual gaming tokens.