Zynga (ZNGA) in Focus as Real-Money Gambling Gets Closer to Reality
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Zynga, Inc. (NASDAQ: ZNGA) is seeing pre-open interest Wednesday as the company will be unveiling its real-money gambling apps today at an event in Barcelona, Spain, according to Venture Beat.
Facebook's (NASDAQ: FB) Director of Games Sean Ryan will be showing off the Facebook titles for Zynga, which will include ZyngaPlusPoker and ZyngaPlusCasino.
The games will launch in the U.K., where online gambling is legal. It is still unclear the timing of the launch, which is dependent on U.K. approvals.
Zynga investors will be paying close attention to the U.K. launch as real-money gambling could turn into a large opportunity for the company as it expands elsewhere. Looking beyond the U.K. opportunity, in December of 2012 Zynga filed an Application for a Preliminary Finding of Suitability from the Nevada Gaming Control Board. Recent positive commentary from Nevada Gaming Control Board Chairman A.G. Burnett suggests the applications is gaining steam. Burnett said while there is no way to expedite the process, Zynga has the fortune of good timing as they just finished up a few large investigations which will free-up time to review Zynga's applications.
To develop real-money gaming in the U.K., Zynga has partnered with bwin.party, a leading international RMG operator.
The real-money gambling app unveiling comes as Zynga's stock has found some new life after the company tapped Microsoft's Don Mattrick as its Chief Executive Officer, last week.
Shares of Zynga are up 2.5 percent in pre-open trading Wednesday.
Facebook's (NASDAQ: FB) Director of Games Sean Ryan will be showing off the Facebook titles for Zynga, which will include ZyngaPlusPoker and ZyngaPlusCasino.
The games will launch in the U.K., where online gambling is legal. It is still unclear the timing of the launch, which is dependent on U.K. approvals.
Zynga investors will be paying close attention to the U.K. launch as real-money gambling could turn into a large opportunity for the company as it expands elsewhere. Looking beyond the U.K. opportunity, in December of 2012 Zynga filed an Application for a Preliminary Finding of Suitability from the Nevada Gaming Control Board. Recent positive commentary from Nevada Gaming Control Board Chairman A.G. Burnett suggests the applications is gaining steam. Burnett said while there is no way to expedite the process, Zynga has the fortune of good timing as they just finished up a few large investigations which will free-up time to review Zynga's applications.
To develop real-money gaming in the U.K., Zynga has partnered with bwin.party, a leading international RMG operator.
The real-money gambling app unveiling comes as Zynga's stock has found some new life after the company tapped Microsoft's Don Mattrick as its Chief Executive Officer, last week.
Shares of Zynga are up 2.5 percent in pre-open trading Wednesday.
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