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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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Bwin Extends FC Bayern Basketball Sponsorship -
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Bet365 Relocating to Gibraltar -
The company said Gibraltar will become its licencing hub with the company operating its international betting businesses under the licences granted by the Government of Gibraltar, while still retaining a UK presence in Stoke-on-Trent.
Pyrons Slot Launches -
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Pro Sports leagues Fighting NJ Sports Betting -
As expected, four major professional sports leagues and the NCAA have filed a motion in US Federal court to block New Jersey Governor Chris Christieís move towards allowing sports betting at casinos and racetracks in the State .
Empire City Casino Online Launches -
On the back of disappointing results, GameAccount Network (GAN) has announced the commercial simulated gaming launch for a previously unnamed US casino operator.
PartyPoker Expands Casual Cash Games -
After a successful trial, casual player focused online gaming site partypoker has announced plans to expand the range of its unique real money poker format Casual Cash Games in its global online poker room.
Freebets Official Betting Partner of West Bromwich Albion -
Freebets will sponsor the Clubís East Stand and will be provided a range of branding opportunities, significant advertising and branding presence at The Hawthorns on match days, access to hospitality facilities and an online presence on the Clubs website at wbafc.co.uk.
Ian Hogg Joins GamCrowd -
Ian Hogg, former Sportech chief operating officer, has been named chairman of equity crowdfunding and crowdsourcing platform for the gambling industry, GamCrowd.com.
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