London, August 29, 2022 /PRNewswire/ — International Game Technology PLC (“IGT”) (NYSE:IGT) and DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) (“DoubleDown”) today announced a letter of intent to settle . Benson v. DoubleDown Interactive LLC, et. Al. Lawsuits and Related Proceedings (“Benson Matters”). In June 2017, IGT completed the sale of DoubleDown Interactive LLC (“DDI”), operator of social gaming business DoubleDown Casino, to DoubleU Diamond LLC, a subsidiary of DoubleDown. DoubleDown is subject to final court approval by the United States District Court for the Western District of Washington.
Under the terms of the Settlement, which will become effective only after the final approval of the proposed Class Settlement by the Court;
sum of $415 million Paid to a settlement fund contributed by a subsidiary of IGT $269.75 million Contributed by DDI $145.25 million.
All members of the National Settlement Class, who do not exclude themselves, waive all claims relating to the subject matter of the action.
Subject to final court approval of the settlement, Benson v. DoubleDown Interactive LLC, et. Al. Litigation, IGT and DoubleDown have also resolved all indemnification and other claims between IGT and DoubleDown and their respective subsidiaries and affiliates in connection with Benson Matters.
As a result of the settlement agreement, IGT $119.75 million Non-operating expenses in the third quarter related to incremental losses related to Benson Matters and related claims between IGT and DoubleDown and their respective subsidiaries and affiliates ($150 million occurred in Q2).
About IGT
IGTMore (New York Stock Exchange:IGTMore) is the global leader in gaming. From lotteries and gaming consoles to sports betting and digital, we provide players across all channels and regulated segments with a fun and responsible gaming experience. Leveraging a wealth of compelling content, heavy investment in innovation, player insight, operational expertise and cutting-edge technology, our solutions deliver unparalleled gaming experiences that engage players and drive growth. provide. With a strong presence and relationships with governments and regulators in more than 100 countries and territories worldwide, we create value by adhering to the highest standards of service, integrity and responsibility. IGTMore The number of employees is approximately 10,500. For more information, see: www.IGTMore.Com.
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