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The stock surged nearly 15 per cent Wednesday after the San Francisco-based company opened an online casino in the U.K., its first foray into the lucrative arena.
Zynga shares are nearly 50 per cent higher this year, boosted by the company’s plans for an aggressive move into real-money web gambling as interest in its social gaming properties wanes and on optimism that bans outside the U.K. will be eased.
The stock rose 46 cents (U.S.) on the Nasdaq to $3.53 on heavy volume, still a far cry from the initial offering price of $10 in 2011.
Zynga’s gains mirror those of rival Glu Mobile, which jumped last month after the company said it would offer a real-money slot game for mobile phones through a partnership with a London-based gambling service.
Zynga has seen softening demand for its popular social gaming titles such as FarmVille offered on the Facebook platform and the company last year cut 5 per cent of its staff, slashed its earnings outlook and has shuttered several titles since the fall.
Analysts see online gambling as a profitable alternative for Zynga, which can offer the service to its 265 million gamers, though legal hurdles are expected to remain as an overhang on the stock.
Online gambling faces restrictions in many jurisdictions including Canada but some bans have been relaxed in the U.S. as the industry lobbied lawmakers arguing that that poker and other casino games require skill and are not entirely subject to chance.
“Our long term vision is to offer our players the next generation of real money games on multiple platforms in regulated markets worldwide,” Zynga’s chief revenue officer Barry Cottle wrote in a blog post.
The new ZyngaPlusPoker and ZyngaPlusCasino games allow U.K. residents to deposit cash to gamble online and are offered in partnership with a major British online gambling firm.
The site lets player access poker, slot machine and table games such as Blackjack and Roulette, with one of the slot machines displaying a FarmVille theme. Players must register and enter real money payment information, with deposits permitted in five currencies including Canadian dollars.
Zynga has said it hopes to broaden beyond the U.K., where online gambling is regulated by the Gambling Act 2005, into Europe and the key U.S. market, where most states currently ban the practice.
“Our long term vision is to offer our players the next generation of real money games on multiple platforms in regulated markets worldwide,” Cottle wrote in the blog post Tuesday.
“This is just the beginning for us and we’re looking forward to seeing what our U.K. players think.”
ZyngaPlusPoker and ZyngaPlusCasino are available on the Web and as desktop applications and Zynga said they will help test interest among its user base.
The company says it is developing mobile, Facebook-based versions of gambling offerings that could be announced this year.
“We’re cautiously optimistic about Zynga’s potential,” Sterne Agee analyst Arvind Bhatia has said in a note to investors. “But there are a lot of unknowns. Until we know more, it’s going to be more of a promise than reality.”
Zynga bets farm on online gambling | Toronto Star
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Helping the impressive results along was Ohio’s newest $400 million casino, Horseshoe Casino Cincinnati, which opened its doors for the first time on March 4. Overall, the casino had the second highest monthly revenues results in the whole of the state at $21 million. The casino also tallied 441,000 visitors in its first month of operation, and commenting on Horseshoe Casino Cincinnati’s promising results, the casino’s general manager Kevin Kline, said:
“We’re feeling great about our start. I feel like, for the first month to come out of the gate with that reception..I think that’s a great foundation and a great catalyst for what we’d expect to see in the future months.”
Ohio’s other casinos also fared well with all three recording double-digit percentage increases in their revenues. Leading the way was Toledo’s Hollywood Casino up 20.9% to $17.8 million, followed by Hollywood Columbus up 13.3% to $20.9 million, and Horseshoe Cleveland up 11.1% to $24.5 million in March.
The state places a 33% state tax on casino gambling and for March Ohio’s Department of Taxation announced $62.9 million in tax revenue had been collected. Ohio has only had a casino industry since being approved by voters in 2009. At the time it was estimated that Ohio’s four casinos could earn around $2 billion a year generating around $643 million in state taxes. So far, the actual figures have been below projections and have come in at $543.6 million, with $179.4 million of that tally going towards Ohio’s schools, counties and cities. All counties receive a share of the pot but with casino host counties Toledo, Columbus, Cleveland and Cincinnati, receiving a bigger slice.
Ohio Casino Revenue Reaches $84.3m In March
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Wendy P. won a staggering $146,000 playing Progressive Cyberstud Poker
Joaquim M. hit a €1,453,610.18 jackpot playing the worldwide sensation Major Millions
Projecting ahead to April, there are plenty of jackpots lined up. Among the most popular jackpot games are Mega Moolah Progressive, Thunderstruck and Adventure Palace (non-progressive). Players at Jackpot City Casino are gearing up for spring fever with rollicking games featuring 3D animation, audio-visual prowess and generous promos.
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Agent Jane Blonde by Microgaming is cutting a swathe with players the world over. This game features 5 spinning reels and 9 paylines of entertaining gaming. This non-progressive game sports a max payout of $10,000 and it's themed around a female version of James Bond. In much the same vein, Girls with Guns is the anticipated slots blockbuster for April. This jungle-themed slots game features 243 ways to win and 6 G.I. Jane style soldiers hunting a wicked drug lord. The game showcases 5 spinning reels of hard-hitting action.
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Jackpot City Casino players are privy to exciting daily, weekly and monthly promotional offers. These include 5 star cruises, fun-filled vacations and generous rewards. In addition, the match promotions are all the rage. These bode well for regular players as they are based on present and past gaming activity. Players who collect enough LPs (Loyalty Points) during April will be able to enjoy free cash back to use on their favorite games. As a VIP, players can enjoy the added advantage of free spins, tailored promos and personal assistance from VIP hosts.
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Projecting ahead to April, there are plenty of jackpots lined up. Among the most popular jackpot games are Mega Moolah Progressive, Thunderstruck and Adventure Palace (non-progressive). Players at Jackpot City Casino are gearing up for spring fever with rollicking games featuring 3D animation, audio-visual prowess and generous promos.
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As the world's premier Microgaming casino, JackpotCity provides players with premium-quality entertainment. Notable slots games include Thunderstruck II, Tomb Raider: Secret of the Sword, Girls with Guns, Mega Moolah Progressive, Avalon and Immortal Romance.
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Agent Jane Blonde by Microgaming is cutting a swathe with players the world over. This game features 5 spinning reels and 9 paylines of entertaining gaming. This non-progressive game sports a max payout of $10,000 and it's themed around a female version of James Bond. In much the same vein, Girls with Guns is the anticipated slots blockbuster for April. This jungle-themed slots game features 243 ways to win and 6 G.I. Jane style soldiers hunting a wicked drug lord. The game showcases 5 spinning reels of hard-hitting action.
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International Game Technology recently announced it will supply Mr Green with it portfolio of mobile games. Mr Green’s mobile products will include free to play and real money games, made available by integration with IGT’s platform. Markus Aurala, Chief Product Officer at Mr Green commented on the supply deal, "Mobile gaming has very quickly grown in popularity, and the key to sustaining this is to offer players mobile versions of their favourite online titles," Aurala, added, "IGT's leading brands and top performing mobile games will be a significant tool for us to help drive customer acquisition and loyalty."
Leigh Nissim, IGT Commercial Director of Interactive services, also commented, "Mr Green is an operator that places a firm emphasis on delivering a quality gaming experience so we are extremely pleased to be announcing this extension to our relationship," Nissim, continued, "This agreement reinforces IGT's ability to leverage our strong online performance and offer the same great games across multiple channels."
The New York stock exchange listed International Game Technology is a leader in the casino games industry supplying many of the worlds casino operators. IGT purchased Double Down Interactive that it says engages as many as six million players every month. Games going live at once are Da Vinci Diamonds™, Cleopatra™, Cats™, Wolf Run™ and Kitty Glitter™. IGT mobile gaming accepts iOS and Android devises and audio that rocks. Mr Green is an award winning online gambling web location that is constantly expanding its reliable offerings and now with a mobile offering it has come of age.
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A few of Bitcoin-involved hotshots, such as CEO of BitInstant Charlie Shrem, founder of BoostVC Adam Draper and Bitcoin investor Roger Vers believe there are a few reasons why investing in Bitcoin, even at this late stage, might be a good idea.
One of the factors in Bitcoin’s favour is its independence; it does not rely on or depend upon any financial or governmental institutions. In addition, Bitcoin is very similar to gold in terms of currency and investable.
They believe that Bitcoin’s medium and long-term prospect are excellent and as the economy surrounding Bitcoin is growing they believe it will also continue to do so. However, Shrem doesn’t conceal the fact that Bitcoin is a fairly risky investment: “Don’t put in money you cannot afford to lose!”
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This spring bingo heads can spring into action enjoying the £30,000 Community Night on 14th April – a huge variety of games offering something for all including extra special Roll On Bingo, with up to 10 more chances to win after House has been called.
Following that huge fun-filled evening will be brilliant Bingo Value Night on April 18th. Tickets at rock-bottom prices and £10,000 up for grabs, there’s also Pick a Prize week from 19th to 25th April. Earn prize draw tickets for playing Bingo and if you’re one of 200 winners chosen at random, you’ll get a share of 100,000 Loyalty Points.
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Moving over to the casino players can enjoy a 10% Cashback Day bet365, on Wednesday 17th April, bet365 is treating its players to an incredible 10% Cashback Day.
All you have to do is stake £50 or more on bet365’s fantastic range of slot games and you will receive a 10% rebate, up to £100, on whatever the House takes in total as a result of your play on that day.
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Caesars Entertainment resorts has now handed out $2 billion in winnings across the US since 1987, and with her massive payout, Rosemary Bulzoni now becomes the company’s 707th lucky millionaire winner.
At 1:08 a.m on Friday, April 12th, New Yorker Rosemary was playing the Wheel of Fortune slots when all her symbols came up to release the $1,140,129 jackpot. Following her life-changing experience, Rosemary said she intends to splash out on a Jaguar luxury car with part of her winnings. She also confessed: “I have been playing these types of machines at the Flamingo twice a year for 20 years and it has finally paid off. Never give up!”
Incredibly, just six weeks ago on March 9th, another punter by the name of Gordon, too, won a huge $1,452,799 playing a Wizard of Oz slot machine at the Flamingo Las Vegas. The casino manager, Valerie Turner, also confesses to feeling great delight seeing the huge jackpot paying out, and as she explains:
“I love paying these million-dollar jackpots. It makes me happy to see the tears in their eyes because you know this trip has changed their life.”
The Nevada based Caesars Entertainment Corporation is the biggest gaming company in the world with over 50 casinos, hotels, and golf courses worldwide. In 2010, the company generated $8.9 billion in revenues. That was also the year that the company’s name was changed from “Harrah’s Entertainment Inc.”
The higher than anticipated revenue figure in the former Portuguese colony reflects the expansion taking place in the Cotai area of Macau, Asia’s equivalent to the Las Vegas Strip. Galaxy Entertainment Group Ltd, for instance, has received permission from the Macau government to add a further 50 gambling tables to its Cotai casino, while Sands China Ltd has increased the number of hotel rooms at its Sheraton brand. It is also planning on building a fifth resort in Macau, called The Parisian and costing around $2.5 billion.
Overall, the casino resort’s increased capacity has helped encourage more gamblers to visit Macau and extend their stays. Equally encouraging is the fact that there was strong showing by both mass-market and VIP business.
Macua is the only place in the country where casino gambling is allowed, and since overtaking the Las Vegas Strip in 2006 as the world’s biggest gambling, has grown to six times the size of its nearest competitor. In 2012, Macau’s gambling revenue rose 13.5% to $38 billion, and analysts have been predicting comparably sustained growth this year. Union Gaming Group analyst Grant Govertsen, for example, has forecast an increase of 16% in gambling revenue from 2012.
Also, JP Morgan recently announced: “In 2013, we forecast 13 percent market-wide growth, with the VIP growing 8 percent, and the mass segment growing 26 percent. We view the market’s mass growth potential as being somewhat appreciated by U.S. investors but, for the most part, Macau’s VIP recovery being somewhat underappreciated/overlooked.”
Macau Casino Revenue Up 25% To $3.92bn In March