Zynga Looking to Get Into Gambling Market
The online game company responsible for Farmville, Mafia Wars, and other online games that clutter your Facebook feed with various requests has an request of its own. Zynga wants Nevada Gaming Control Board to approve is application for online gambling in the U.S., a process that could take up to 18 months.
Zynga already offers real-money gambling in its online poker and casino games in the U.K., and if all goes to plan, it will launch those same services in the U.S. next year. Before doing that, it needs the above mentioned approval for its "application for a preliminary finding of suitability." Assuming Zynga gets it, the company can then apply for a gaming license in the state, which takes 2-3 months.
Mark Pincus, co-founder and CEO of Zynga, is doing what he can to keep his online game company afloat. It's been a rough run lately. Zynga's stock has tanked after filing for an IPO, dropping from $10 per share to $2.50 per share currently, and the company's cozy relationship with Facebook has suddenly turned cold, with Zynga no longer having access to promotional advantages.
Zynga already offers real-money gambling in its online poker and casino games in the U.K., and if all goes to plan, it will launch those same services in the U.S. next year. Before doing that, it needs the above mentioned approval for its "application for a preliminary finding of suitability." Assuming Zynga gets it, the company can then apply for a gaming license in the state, which takes 2-3 months.
Mark Pincus, co-founder and CEO of Zynga, is doing what he can to keep his online game company afloat. It's been a rough run lately. Zynga's stock has tanked after filing for an IPO, dropping from $10 per share to $2.50 per share currently, and the company's cozy relationship with Facebook has suddenly turned cold, with Zynga no longer having access to promotional advantages.
