Games developer Zynga Inc (NASDAQ:ZNGA) had said
earlier that it was foraying into the area of money-gambling games as a way of
seeking alternative revenue streams.
On Wednesday the company announced that it had filed
an application with the authority of the state of Nevada to commence real-money
gambling games. This is a significant move for the company and has the
potential to get the faltering company back on track.
The Nevada Gaming Control Board, to whom the
preliminary application has been made, will now take a call on whether the
company should be issued the license to run such games and allow gamblers in
the state to bet real money on the San Francisco-based company's popular games
like Zynga Poker.
At present Zynga Poker is played with virtual chips
and does not involve any monetary transactions.
Zynga, which at one time used to mint money from
social network games such as Farmville (on Facebook) has been seeing a slide in
revenues. The company is looking at gambling as a way to plug the gap.
"We anticipate that the process will take
approximately 12 to 18 months to complete," Zynga Chief Revenue Officer
Barry Cottle said in a statement.
"As we've said previously, the broader U.S.
market is an opportunity that's further out on the horizon based on legislative
developments, but we are preparing for a regulated market."
Not all states in the United States have legalised
gambling and it could take some years before widespread approval is given in
the country.
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