Seattle, Washington has always been a breeding ground for casino slot machine technology companies. In an industry where billions of dollars are generated in the US, Seattle lays claim to being the most innovative when it comes to creating new casino games.
Over the past year, the spotlight has grown even wider for Seattle technology companies. With dozens of states looking to regulate online gambling, the focus is again on the companies that can deliver the technology needed to ensure fair play and exciting games for all Internet gamblers.
DoubleDown Interactive is one of the companies that has recently been called on to become a major player in the Internet gambling industry. DoubleDown has partnered with Las Vegas-based International Game Technology in a deal worth $500 million. DoubleDown received $250 million of this money up front, with the other half coming when the product demand reaches the desired goal.
Nevada became the first state earlier this year to pass legislation regulating online casinos. That move has set off a firestorm across the US, with New Jersey, Delware, Florida, Iowa, Hawaii, California, and Maryland being just some of the states who have had discussions on the issue of Internet gambling.
What IGT did for DoubleDown with its investment is provide the financial backing needed to continue to advance the online gambling technology. It is a partnership that both parties are looking forward to, and one in which IGT hopes will become a long-term deal.
DoubleDown has moved from developing general online casino games, to ones that are more local-based designs. The local designs help make each game individualized for a specific area, and ensures that people in different states will be playing different slot games.
IGT executives believe that online gambling will be prominent in more than half of US states by 2015, with the majority of the growth coming over the next two years.
Seattle, meanwhile, will be reaping the benefits from the online gaming explosion. DoubleDown has increased their employee base in recent months, and the money they made in the IGT deal has already trickled down to the locals.
"Online gambling is going to be a big, big, business in the US," said Seattle resident Marc Hambler. "I'm just glad that my hometown will be the beneficiary of the industry. I'm looking forward to the future which is bright here in Seattle."