When Zynga became public at 10, there was no mention of online gambling. They did not have a set launch with bwin in the UK in motion. There was no mention of true realized online gambling revenues. Nevada and New Jersey did not have a b ill that legalized gambling. The company was focused on web-based titles and since has moved 80% of the company to what Pincus said was ‘the year of mobilization". They had a deal with Facebook that sent 30% of their revenues that way and tied the company down. They were more focused on getting as many games out there versus quality.
So what we have then versus what we have now
A. The company has changed complete course to mobile
B. They sit in position to be as a first in organization with the biggest online presence in what could be the most lucrative market created in our time--the beginning of online gambling. A casino in every palm. This market has just started to be created and has been given bonafides by New Jersey and Nevada
C. They are still flush with cash
D They apparently hold a variety of online gambling patents and have hired one of the premier names in online gambling away from 888 holdings in Maytal Ginzburg
I agree but the IPO was high because people wanted in on ANYTHING FB related.. It was the first way to get your foot in the FB door. ZNGA will pass the IPO offering within 1 year or online (legal) poker! I'm all in!!