Zynga share price jumps by more than 11 percent

Feb 11, 2013 4:47 PM

Not too long ago, the online gambling company Zynga was written off by many investors when it appeared the company’s future was limited. That has all changed in the recent weeks which saw the company’s share price zoom upward by more than 11 percent.

Zynga reported substantially higher revenues during the most recent quarter and showed what was described as “critical progress” in its mobile activity where some 72 million people have been identified as monthly users of the company’s online products.

That progress, combined with the online gaming action in New Jersey, was enough to give the company’s share price a boost.

Months ago, Steve Wynn, chairman and CEO of Wynn Resorts Ltd., reportedly was looking at Zynga as a possible path toward online gaming. Wynn, however, passed on the opportunity.

Ray Poirier is the longtime executive editor at GamingToday.

Contact Ray at [email protected].

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