IGT agrees in principle to Benson vs. Double Down Interactive LLC legal proceedings
The agreement in principle is contingent on final court approval by the US Federal District Court.
International Game Technology PLC (IGT) and DoubleDown Interactive Co., Ltd. announced an agreement in principle to settle the Benson v. DoubleDown Interactive LLC lawsuit and associated proceedings.
This agreement in principle is contingent on final court approval by the US Federal District Court for the Western District of Washington.
The terms of the settlement include a total of $415m will be paid into a settlement fund of which IGT’s subsidiaries will contribute $269.75m and DDI will contribute $145.25m.
The settlement also states that all members of the nationwide settlement class who don’t exclude themselves will release all claims relating to the lawsuit.
The result of the agreement will see IGT accrue a $119.75m non-operating expense in the third quarter.
Recent news from IGT revealed a four-year contract extension with the New York Lottery. The extension includes IGT launching a new claims and payments system.
IGT Chief Operating Officer, Global Lottery commented: “IGT has built a trusted partnership with the New York Lottery since 1986. For more than 35 years, we have worked collaboratively with the Lottery to deliver world-class, innovative solutions for retailers and players alike.”
The contract extension with the New York Lottery will extend until August of 2026.
In early August, IGT announced another partnership with Nisqually Red Wind Casino in Olympia, Washington.
IGT entered into a multi-year sports betting agreement to deploy IGT PlaySports betting kiosks and partner with the company’s trading advisory team.
IGT President of Sports Betting Joe Asher commented: “In adding a sportsbook to its already impressive casino, Nisqually Red Wind Casino can leverage sports betting as a powerful player acquisition tool and a driver of extended property visitation.”
IGT PlaySports kiosks are in over 70 locations throughout the US and Canada.
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