As we've already discussed, deadlines are looming in Atlantic City. Deadlines for the first major launch of legal online gambling in the US market. You rarely get a second chance to make a good first impression ... but, an entry into real money gaming is giving Zynga that opportunity. How serious do you want to be taken Mr Pincus. Are you tired of Motley Fools laughing at you ... we are? So, let me ask you Mr Pincus why did you:
1) Acquire Walker Digital's 38 online gambling patents along with filing dozens of original patents yourself.
2) Hire Maytal Olsha, the former Senior VP of regulated markets, from 888 Holdings.
3) Apply for a preliminary application to run real money gambling games in Nevada.
4) Consider acquiring the online poker provider Ongame Network from bwin ... only to form partnership instead
5) Form a partnership for real money gaming with bwin in the UK.
Why take all those big dramatic steps to just let the New Jersey deadline go by? So, now is the time Pincus. Clearly your past actions indicate that real money gaming is important to you and the direction of Zynga. So, it's time to make decisions. Do you become the partner of a partner of the Bogata casino or do you buy a casino? What is the margin for a partner of a partner anyway? PokerStars was going to pay $15 million for the casino. How ironic ... you are paying $27 million in severance costs for the recent office/staff cuts. So, do you really want to change the direction of Zynga? Do you really want to stop the "cost cutting" and perhaps grow the company? Well, then Pincus ... step up! You have $1.7 Billion in cash ... you can hire any expert in any field you need. You can run a casino! You can tie that casino into bigger liquidity pools. You have the player base, balance sheet, and name recognition to chase the wind! Make the decision Pincus ... it is your moment ... it is your company ... we're all watching ... this is your second chance to make a first impression.
Amen! Pincus is far overdue to show he has leadership skills and as stated previously, I trust the Board Chair, but Pincus has yet proved he is a truly legit CEO, and in accordance with your comments Blue, the time is now. You guys make it a great Father's Day and we'll see you on this Board (on a strong opening) tomorrow.