DoubleDown slips to loss after Benson settlement and impairment costs
| By Robert Fletcher
DoubleDown Interactive posted a net loss of $237.7m for its 2022 financial year following one-off charges related to a legal settlement in Washington and impairment of goodwill.
In August, DoubleDown and former parent company International Game Technology (IGT) reached an agreement in principle to pay $415.0m to settle a class action complaint in Washington state.
The Benson v DoubleDown Interactive LLC et al lawsuit was filed in 2018, with plaintiffs who had lost money through the Washington-based group’s games claiming its range of social casino products that use virtual chips constitute illegal gambling enterprises under state law.