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Zynga Cutting 18 Percent of Staff

18 percent cut envisaged to get back to profitability.
Despite a relatively positive first quarter in which revenues rose 9 percent to $183.3 million and net losses were reduced to $46.5 million, the troubled San Francisco-based social gaming giant Zynga has announced plans to cut staff numbers.
The company says the cuts will save around $45 million a year and affect around 18 percent of its staff as a return to profitability is sought.
Two years ago the company laid off 520 people.
News of the latest job cuts plan saw the company's share price rise more than 9 percent.
Zynga's quarterly showed that the company's belated recognition of mobile as an essential channel has resulted in 63 percent of its $167.4 million virtual product sales in the quarter emanating from mobile...a massive increase compared to the previous year. Monthly and daily mobile user numbers were both significantly up.
On the gaming front, casino sales were up 55 percent y-o-y, with slots titles particularly successful
The company will be concerned at a drop in its player conversion rate, which is now at 1.5 percent, with average daily user numbers down 3 million to 25 million, although average daily sales per user were up 18 percent in the quarter to 6.5 US cents.
Looking ahead to the end of Q2, the company says it expects its net loss to rise to as much as $54 million.

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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