Zynga Heads Towards Online Gambling
The last year has been a tough time for Zynga, revenues have dropped and the company’s valuation has fallen by $12 billion.
Until now Zynga has been focused on the Facebook gaming platform, however, it has been announced that the company will now be focusing on real-money gambling. The announcement saw company stocks rice by 10% and a rebranding is currently on the way as they prepare to redesign themselves.
At the beginning of the month it was confirmed by the Nevada Gaming Control Board that the company has filed an application for a real-money gambling license. It will take up to 18 months for the application to be processed, but the news of the application has done wonders for Zynga’s stock.
On the other hand, Zynga doesn’t want to rush into anything. If they enter the market too soon with an underdeveloped product then they could very quickly be crushed by the massive competition.
The presence of Zynga in the real-money gambling world could be of great use to many online casinos. The social aspects of their games have already proved to be popular.
Zynga already shares many characteristics with online gambling companies as is evident from their games. It seems increasingly likely that it won’t’ be long before Zynga enters the online gambling world.