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Zynga to Offer ‘Real Money’ Poker in 2013

Written By: PokerNet.com | July 26, 2012 | Posted In Poker News

Zynga has recently suffered a collapse in their share prices on Wednesday in the late afternoon. Following this drop in share prices, CEO Mark Pincus has confirmed reports that they will be offering “real money” poker early next year, around the first half of the year.

This launch will be subject to regulations within the country of the user. Players in theUSmay not be able to immediately get their hands on the “real money” play version of Zynga’s Texas Hold’em Poker game. Some states that have begun legalizing online poker may still take time in availing the “real money” game while a move to legalize online poker is still being considered at the federal level. Several sponsors of the legislation that will move to legalize online poker in theUSwill be likely to attach this to an upcoming bill.

According to VentureBeat.com, while two or three percent of the users of Zynga spend their money of about $2 or $3 every month in social games, online gambling is still a lot more lucrative. It can account for total revenues reaching to $300 for every paying user per month.

Zynga witnessed a huge drop in their after market trading price. For 2012, they had expected a full-year EPS of about 4 to 9 cents versus estimates of 26 cents. However, their earnings were a lot less significant than their projections.

They reported earnings of 1 cent per share on revenue of $332 million. Analysts were expecting a 5 cent per share on revenue of $344 million. This was according to the estimate made by Thomson Reuters.

Zynga’s number of daily users had started to fall from 70 million to just about 55 million. This happened following their acquisition of OMGPOP for $210 million. Zynga shares have fallen by as much as 36 per cent, which is recorded as their all-time lowest drop as of press time.

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