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Zynga Headed For Ipo
Friday, December 2,2011 : SOCIAL ONLINE POKER COMPANY HEADING FOR I.P.O.
Analysts watching Zynga's moves closely
The San Francisco-based social gaming giant Zynga, which runs a massive social poker operation through Facebook, is expected to file its final initial public offering prospectus today (Friday), paving the way for a stock offering by mid-December, the newspaper USA Today reports.
The company intends to start an IPO roadshow on Monday in New York, an unnamed source said, revealing that the IPO is expected to debut at $8 to $10 per share, and raise $900 million on a $10 billion valuation.
Zynga declined to comment when contacted by the newspaper.
With 227 million monthly users - 35 million of them playing Zynga Poker every month - Zynga is a major social gaming success story. Through September, it notched $829 million in revenue, twice as much as in the same period a year earlier. The company has earned $121 million since the start of 2010, according to stock exchange filings.
Analysts will be watching the IPO closely, regarding it as a litmus test for the techie IPO market, and an indicator to how a public listing by Facebook might be received.
Facebook is expected to file for an IPO in April 2012, when it is required to disclose financials, now that it has reached 500 shareholders. A public offering could reach a valuation of up to $100 billion and raise $10 billion, analysts estimate. Facebook's revenue will climb to $4.3 billion this year, double the $2 billion it rang up in 2010, estimates market researcher eMarketer.
Advertising will comprise a huge chunk — $3.8 billion — as it did in 2010, when Facebook registered $1.86 billion in advertising revenue.
By 2013, Facebook is expected to earn $7 billion in advertising revenue, according to eMarketer.
There has also been speculation recently that Facebook is about to move into online gambling in regulated markets.
Zynga is making moves to wean itself off Facebook as a platform where most of its customers play its games. In October, Zynga discussed plans for its own platform, code-named Project Z, but the company has a deal with Facebook that runs through 2015.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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