Wednesday April 3 was a big day for Zynga Plus Poker as it became available to online players in the United Kingdom. The company is offering UK players a chance to try out its various real money casino and poker games. These include blackjack, slot machines, card games and a host of other options.
The Zynga company is joining up as a partner with bwin.party, which is recognized as the biggest publicly-traded online betting venture in the world. Bwin.party, which is headquartered in Gibraltar, made a profit of more than $32 million last year. Barry Cottle, who is the Chief revenue officer for Zynga, said the company is excited to be offering web and download versions of their real money games in Britain because the public has been asking for them. He added that Zynga is also looking forward to launching its social versions of the games later this year on mobile options and Facebook.
It’s obvious that the company’s shareholders are happy with the move since its stock went up approximately 15 per cent when the British versions were launched. Zynga will be happy with that since its stock has fallen quite rapidly since last August. The company saw some of its top managers leave the nest and that caused the stock to dive. Zynga admitted that it paid too much for OMGPOP and its quarterly losses reached about $52 million. Reports have pegged Zynga’s losses for 2012 at as much as $200 million or more.
It’s believed that the company’s new British venture could eventually set the table for a possible expansion to America. This could take place since several U.S. states are getting quite close to legalizing online betting with Nevada and New Jersey likely being the first two to allow it. These two states already offer legal gamble in their on-land casinos, which are hugely popular. Illinois, Delaware, and California are also interested in legalizing online gaming.
Zynga isn’t wasting any time as they’ve already contacted the Nevada Gaming Control Board and have filed a ‘finding of suitability’ report with them. This is the first call of action necessary to be approved to offer real-money online wagering in the state. Zynga’s online games offer a social experience that is usually found only in brick and mortar casinos, so there’s a good chance it will prove popular in the UK and the U.S.
Analysts predict that if the company does well over the next couple of years then its bottom line should look quite a bit better next year or in 2015. They don’t believe that partnering up with bwin.party will result in any immediate or short-term financial windfall however. Of course, this projection could quickly change if online gaming is legalized in America in the near future.