Casino Watch Focus has reported on the ongoing efforts of Zynga and Facebook to enter the online gambling market. The infrastructure exists because they offer poker games and other gambling games that operate under a coin system. No real money has been paid out in the United States, but the two have worked in the UK to make the switch to real money gambling. It now appears that the gaming giant has decided not to pursue online poker, at least in the United States. An online source explains:
Zynga Inc, the struggling San Francisco based social gaming group, announced that it was abandoning its plans to enter the real money US online poker and gambling markets. The company said in its second quarter report that: ”While the company continues to evaluate its real-money gaming products in the United Kingdom test, Zynga is making the focused choice not to pursue a license for real money gambling in the United States.”
In February this year, the former Chief Executive Officer of Zynga, Mark Pincus announced that the group planned to bring real money gambling to the American market. This news placated a jittery investor public who had put their money behind Zynga knowing that it would eventually enter the real money US online poker market. This fact was also shown through Zynga’s application for a license to operate online poker from the Nevada gambling authorities.
However, last week’s clear announcement that Zynga is abandoning these plans, saw the group’s shares plunge by up to 20%, with investors leaving in droves.
Meanwhile, Facebook is finding success with real money gambling and has decided to expand its operation in Europe. An online source explains:
Facebook, the social networking giant, will offer real money social gaming in Italy and Spain, reports the publication Telecom Paper and the Italian news agency Ansa last week. Sean Ryan, head of partnerships of Facebook, confirmed the reported plans during the recent World Gaming Executive Summit in Barcelona, following a successful trial initiative in the UK in partnership with online gambling group Bwin.Party. He confirmed that Facebook is also undergoing a sports betting trial in partnership with the UK’s third largest bookmaker, Paddy Power.
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