Zynga drops plans for U.S. online gambling
July 28 , 2013
Zynga has dropped plans to pursue a license for online gambling in the United States since doing so is bringing it's shares down.
Zynga plans on continuing its online gambling efforts in the United Kingdom but is "making the focus choice" to not pursue the same for the United States, according to Chief Operations Officer David Ko. The company had announced the filing of an application for a gaming license in Nevada as well as in the U.K. in April. Although, shares of Zynga had been up 50 percent since this announcement, the stock dropped 17 percent in early trading on Friday.