Traffic
Social games maker Zynga took the first step toward launching real-money games Wednesday by filing an application with Nevada gambling regulators.
Zynga has said for some time that it wants to launch social games that involve real money gambling, which could potentially give the San Francisco company a much-needed revenue boost.
Zynga has seen lagging revenues from existing games that rely on players spending cash on virtual goods, and its stock price has sagged as well. Zynga has partnered with a British firm to develop such games in Europe, but Nevada could be the first stage of opening up a broader U.S. market.
But it’s not going to happen any time soon. The process could take up to a year and a half.
Here’s a statement from Zynga Chief Revenue Officer Barry Cottle:
“Zynga has filed its Application for a Preliminary Finding of Suitability from the Nevada Gaming Control Board. This filing continues our strategic effort to enter regulated RMG markets in a prudent way. We anticipate that the process will take approximately 12 to 18 months to complete. 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. We’ve also recently partnered with bwin.party to bring the highest quality real money gaming experiences to our UK players in the first half of 2013.”
