Zynga’s real-money about turn

Zynga’s real-money about turn

Friday, 26 July 2013

The planned expansion into the real-money US market by social gaming services provider Zynga Incorporated is now nothing but a distant memory after the firm released its financial results for the second quarter of the year.

San Francisco-based Zynga made its first steps into the real-money market with the launch of Zynga Poker Plus for the UK in April while the developer stated at the time that it was hoping to follow this move with a version for the American market once appropriate regulations had been passed.

However, the company has used its financial filing to report that it no longer has such a plan and will instead focus on free-play social games.

“The next few years will be a time of phenomenal growth in our space and Zynga has incredible assets to take advantage of the market opportunity,” said Don Mattrick, Chief Executive Officer for Zynga.

“To do that, we need to get back to basics and take a longer term view on our products and business, develop more efficient processes and tighten up execution all across the company. We have a lot of hard work in front of us and as we reset, we expect to see more volatility in our business than we would like over the next two to four quarters.”

This revelation comes only a month after former company boss Mark Pincus was replaced by Mattrick with the former originally stating that real-money gaming was a natural move for Zynga.

Tags: Zynga, Zynga Poker Plus, Mark Pincus, Don Mattrick