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Zynga Shuts Offices
Monday June 3,2013 : ZYNGA CUTS COSTS OF WORKFORCE, SHUTS OFFICES
Adjusted outlook impacted by cost reduction strategy
Social gaming giant Zynga cut its workforce by almost 20 percent today, effectively laying off 520 employees.
In a memo to employees chief executive officer Marcus Pincus said: “None of us ever expected to face a day like today, especially when so much of our culture has been about growth… The scale that served us so well in building and delivering the leading social gaming service on the Web is now making it hard to successfully lead across mobile and multiplatform, which is where social games are going to be played.”
The shuttering of its New York and Los Angeles Offices support the company's cost cutting strategy resulting in an annual saving of around $70 to 80 million.
The company said in an updated outlook for the second quarter of 2013 that it projected its net loss to be in the range of $39 million and bookings to be in the lower half of the outlook range.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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