Zynga out of the US gambling race
Social gaming company Zynga is out of the hunt for a US gaming license. Zynga will attempt to focus on what it has done well up to now, design engaging games with the social element tied in, catching fire on smart phone devices and across social networking sites. New CEO Don Mattrick is tasked with turning the company around in the wake of dismal second quarter earnings.
Zynga does have a hand in real-money gambling products in the UK, and company officials indicate that it will continue to monitor those offerings, and did not rule out continuing to support and be involved in the international gaming market to some extent, but it will not develop new games aimed at cashing in on a US gambling market in its infancy — a market expected to become huge in the years to come.
CEO Mattrick believes Zynga is missing out on the growth currently enjoyed by Facebook, and even likened the company to giants Google and Apple. Zynga clearly believes in itself as a company, but perhaps gambling does not align with their core vision.
For now, Mattrick's first three months on the job will consist of evaluating the business, identifying problems, and attempting to get Zynga back on track to move toward a profitable quarter. “There are some good winds at our back, and my job is to get our sails up and Zynga pointed in the right direction," stated Mattick.
SBR reported on Zynga's launch in the UK gambling market on April 2.
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