Zynga Gambles on Real Money Gaming
Nevada authorities are now considering whether the maker of Farmville is fit to hold a gaming license.
In an ongoing quest for more reliable revenue streams, Zynga has bet on Vegas-style gambling, and is applying for a license to open a real-world cash online casino. Nevada authorities are now pondering whether to grant Zynga its petition for a gaming license. If successful, Zynga would be allowed to operate virtual gambling games within the state.
"As we've said previously," said Zynga's Chief Revenue Officer Barry Cottle, "the broader U.S. market is an opportunity that's further out on the horizon based on legislative developments, but we are preparing for a regulated market." In other words, Zynga's playing the long game, hoping that legislation to regulate online gambling within the US will be successful. If that happens, and Zynga is already in position with its virtual Vegas, then the social game maker is perfectly positioned to thrive within what it sees as a boom market.
This isn't Zynga's first attempt at virtual gambling. Back in October it signed a deal with bwin party, an online gambling company with European market share, to provide online poker and slot machines in the United Kingdom, starting in 2013.
While the move, if successful, may generate revenue, a revamp of US gambling legislation will be several years in the making. Given Zynga's financial troubles and the failure of some of its more recent properties to retain customers, it begs the question whether Zynga can really afford to wait that long.
Can't they just give up already? It's not like anyone will miss them.
So put simply; Zynga reaffirm their status as the industry baddies. Gotcha.
But seriously, I can't see this working for them. The internet is already flooded with online casinos, poker tournaments and virtual slot machines. Why would anyone choose Zynga's offering over the multitude of others available? Especially given their recent track record / reputation plummet.
So...they're trying to switch from crack to morphine..
Can Zynga afford to wait that long? Of course not, which is precisely why I hope they try to.
Let the company die off, and let the scam artist running it go penniless. Its not like any actual talent working at the company hasn't been fired already, or are ready to quit after just a couple months working there (several articles have covered the insane rate at which Zynga burns through competent employees before). The fact they had to buy up their own shares just to maintain even something just above abysmally cheap stock on at least one occasion when selling them should of been proof this is a company not worth a dime.