• It's Coming...

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

  • According to AppData, Double Down’s MAU (monthly average user) looks like they’ve taken a breather since April.  Its DAU (daily average user) also look flat QoQ at 1.4MM.
  • While Double Down is not going to make or break the quarter for IGT, it is a sore topic for many investors.   Therefore, disappointment in interactive may elicit an exaggerated response from the investor community, especially given that Patty has marketed this segment as a large source of growth for IGT.
  • Based on our analysis, Double Down casino seems to be losing some market share in its competitive set.  We estimate that their market share in 1Q12 was approx 8.7% and has declined to 6.6% in 2Q12.  The good news is that July share seems to be tracking at 6.8% up from just 6.1% in May.

CHART DU JOUR:  DOUBLE DOWN PERFORMANCE - DD