Zynga Rising From The Ashes

It was only yesterday that we reported that Gov. Chris Christie’s decision to go ahead with online gambling legalization led to share prices soaring among gaming companies like Caesars ,bwin.party and 888 Holdings. Another player enjoying  the benefits of what seems the first step in many of moving towards nationwide internet gambling is that of social gaming giant Zynga. We reported last year that Zynga filed its Application for a Preliminary Finding of Suitability from the Nevada Gaming Control Board.

This is just one of many moves on Zynga’s front who anticipated that online gambling would become a national pastime in the U.S. The news coming out of New Jersey led to a major spike in their share price of 11% due to the expectation that they could become a major nationwide online gambling player.

This is more good news for Zynga who are looking to return to their glory days. Another major boost for Zynga was their better than expected quarterly results. CEO Pincus has admitted that they neglected the mobile market and would make it a major point of focus for them in 2013. This seems to have paid off as they have managed to convert about a quarter of their monthly active users onto their mobile games.

Zynga is still the largest social gaming giant with about 298 million monthly active users. As our regular readers would know we have been following the progress of Zynga with interest and it would be a fool to bet against them making a comeback to the levels they were at during the launch of their IPO.

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