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Zynga Poker Upgrade Delayed
Friday August 8,2014 : ZYNGA POKER UPDATE DELAYED
Social gaming firm battles declining player interest and revenues.
The once mighty US social gaming firm Zynga has cut its earnings forecasts and delayed the launch of the much publicised upgrade for Zynga Poker and other games after worse than expected quarterly results and declining player interest.
Revenues for the second quarter fell 33.5 percent to $153.2 million, with revenue for the six months ending June 30 down 35 percent to $321.3 million.
Year-on-year, the firm saw its active player numbers shrink from 187 million to 130 million, and now anticipates that deferred revenue for 2014 will be in the range $695 million to $725 million, substantially lower than the previous guidance of between $770 million and $810 million.
News of the disappointing results and consequences triggered a 9 percent fall in the company's share price this week.
The upgraded poker software and other games, including new mobile offerings from subsidiary Natural Motion, will now be delayed, possibly for months, judging by a Reuters report quoting chief executive Don Mattrick, who suggested that the expected revenues from these games would be moved to the 2015 financial year.
On the bright side, Zynga's deal with the US National Football League represents the promise of a new mobile game titled NFL Showdown in the future, and there is talk of a new mobile game based on top international golfer Tiger Woods.
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Gambling News :
Betstars Launches in Italy -
Italian sports bettors were able to access Betstars.it Wednesday, as the beta version went live across desktop and mobile channels.
Netent Exiting Canada -
In the absence of a direct communication from online gambling software supplier Netent, Canadian players were left wondering this week whether they would be able to play the companys games in the future.
R.A.W.A. LANGUAGE WITHDRAWN FROM HOUSE APPROPRIATIONS BILL -
It appears from Poker Players Alliance tweets that Sen. Lindsey Grahams attempt to stealthily insert Restoration of the American Wire Actlanguage into a must-pass Appropriations bill has come to an undignified end, removed from the Senate bill when it moved to the House
Corruption in online gambling regulation in Curacao -
Dutch MPs Ronald Van Raak and Andre Bosman have taken their campaign against inefficiency and corruption in online gambling regulation on Curacao public in the Netherlands with interviews on national television and radio this week.
Paysafe Group Trading Update -
In a trading update ahead of its annual general meeting on the Isle of Man today (Wednesday) UK payment processor Paysafe plc said that for the four months ended 30 April this year revenues and EBITDA had exceeded management expectations, with key elements including:
Pennsylvania DA warns on gambling legalisation -
John Morganelli, the District Attorney for the Northampton County District in Pennsylvania, picked his time well for a tilt at legalised online gambling this week, ensuring it preceded a debate on the subject in the House
2016 Association of Gaming Regulators Conference in Australia -
Gambling regulators from around the world will be travelling to Australia later this year for the 2016 annual conference of the International Association of Gaming Regulators (IAGR) which has been scheduled to take place in Sydney from October 31 to November 3.
2016 Harrah's New Orleans Main Event Results -
Texan recreational player and soon to be retired federal agent David Hubbard has taken down the last $1,675 buy-in Main Event of the season in the Big Easy earning his first Circuit ring, a seat into the Global Poker Championship, and a payday of $235,500.
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