Internet Gambling is Zynga’s Next Target

By Thursday, April 4, 2013 0 , Permalink 0

Zynga has ventured into online gambling hoping to reverse its continuously declining revenues as its user base for Facebook games like ‘Farmville’ is dwindling. Following the announcement, company’s stocks showed an upward trend of 5.5 per cent and the price stood at $3.24 during afterhours trade.

The online gaming company will make the two games, “ZyngaPlusCasino” and “ZyngaPlusPoker”, available for play on the web while also providing desktop applications to all Britain based gamblers. With this Zynga aims to bring back the user’s interest towards online betting with poker, roulette and blackjack games.

While announcing the fourth quarter results some of the Zynga’s executives had said that the company has also developed the Facebook version of the games to tap the vast pool of the social network’s potential players. According to sources, the Facebook and mobile version of the games will be launched in the coming few months.

As real money gambling is illegal in most of the parts of United States Zynga has signaled its investors that the company might start making money first in small and regulated markets until the online gaming rules and regulations are passed by the Washington Lawmakers. By the end of this year, Zynga is also expected to expand its gaming operations to other European countries.

Barry Cottle, Zynga’s Chief Revenue Officer, wrote in a blogpost on Tuesday that the company is looking forward to see the reactions of their U.K. players towards the company’s new beginning.