CHART DU JOUR: DOUBLE DOWN PERFORMANCE
- 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.