Zynga Shares Soar Thursday on News of Real Money Online Poker Move

Written by:
Aaron Goldstein
Published on:
Dec/06/2012
Zynga Shares Soar Thursday on News of Real Money Online Poker Move

The world’s largest free-to-play online poker company announced in after hours Wednesday that it had applied for a license to operate real money online poker with the state of Nevada.

Thursday, stocks shot up to 5 percent by mid afternoon Thursday.

Analysts remained cautious regarding the news nonetheless.  

"We really looked at it on a global basis, and there just are not a lot of countries where online gambling is legal, and there are a few states," said Ken Sena, an Internet analyst at Evercore Partners, in an interview with CNBC Thursday. "And where it is legal, it tends to have punitive taxes and it tends to favor sort of the brick-and-mortar legacy casinos because they provide more jobs and more tax revenues, so we see this as a long shot."

Sena said he has a $1.70 price target on the company's shares along with an "underweight" rating.

"There is the potential for more value there so I'm not necessarily saying that this a short, but we still do continue to see this as sort of a risky bet so we are underweight on it," he added.

- Aaron Goldstein, Gambling911.com

Camasino-071812L.jpg

Business/Financial News

eSports Platform Backed by Marc Cuban Gets Malta License

eSports Platform Backed by Marc Cuban Gets Malta License

The eSports platform Unikrn has been awarded a gambling license in Malta.

You Have One Chance To Make Your Top Pay Per Head Site Stand Out

You Have One Chance To Make Your Top Pay Per Head Site Stand Out

Do You Know How To Make Your Top Pay Per Head Site Stand Out? As you well know, it is essential that when a customer visits your site, they come back again.

PPH Services At Premier Pay Per Head Aimed At Making The Client Even Happier

PPH Services At Premier Pay Per Head Aimed At Making The Client Even Happier

When you decided to move your site to the lofty pay per head platform, you knew very well that it would help you get more clients. But you did not see how that would be possible. 

MGM Buys Professional Sports Team, Relocating to Vegas

MGM Buys Professional Sports Team, Relocating to Vegas

Another professional team is set to move to Sin City after being purchased by casino company

Why Players Decide To Stick To Pay Per Head Sites

Do You Know Why Players Decide To Stick To Pay Per Head Sites At TopPayPerHead.com? 

Syndicate