Zynga Shares Jump on Move into US Gambling Market

Thursday, 06 Dec 2012 02:51 PM

 

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Online game company Zynga says it has asked Nevada gambling regulators for a decision that could pave the way for it to enter the U.S. gambling market. The company's shares jumped on the news Thursday.

The news follows Zynga's October disclosure that it has signed a deal to offer online poker and casino games, played with real money, in the U.K. It plans to launch those games in the first half of 2013.

Zynga Inc. said in an email late Wednesday that it is seeking an "application for a preliminary finding of suitability" from the Nevada Gaming Control Board. This, the company says, is part of its plan to enter regulated "real-money gaming," that is, gambling markets.

The San Francisco-based company says the process should take 12 to 18 months.

At midafternoon Nasdaq trading, Zynga's shares were up 6.5 percent at $2.47.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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