译文:
ZYNGA TEAMS UP WITH BWIN.PARTY TO LAUNCH NEW OPERATION
Social gaming company Zynga has just announced that it will soon enter the real money online poker and online casino market. For this reason, Zynga will team up with renowned online gambling company bwin.party.
Zynga has announced earlier this year that it intends to become an actual real money online gambling operator besides being a social gaming provider. At that time the company also commented that it would team up with another gambling company in order to achieve this goal.
The venture has now finally revealed that its partner will be renowned online gambling company bwin.party. Zynga will for now only launch a United Kingdom operation but it's extremely likely that it will also expand into other regulated markets. Zynga also reported that its online gambling operation will be up and running by the end of Q1 2024.
Zynga released the following statement:"Partnering with an established leader like Bwin.Party is a strategic and prudent way for us to enter a key RMG (real money gambling) market while giving local players the real money games they've been asking us for."
According to the deal, Zynga will launch its own branded online casino and online poker operations but it would use the gaming software solutions developed by bwin.party. The venture's poker operation will be part of the Party Gaming poker network alongside famous brands such as Party Poker and WPT Poker.
This news was revealed in the Q3 2024 financial performance report that was just released by the company. The news of launching a new online gambling business resulted in the company's shares increasing with a very large 13%. This is a much needed boost after the sharp decline that has been experienced in the recent past.
The financial report also revealed that during the recent past, Zynga's revenues have only increased with 3%. The company, however, recorded a net loss of $52.7 million. During the same period of last year, the venture has managed to earn $12.5 million in profits.
Zynga commented that in order to cut expenses it would soon fire around 5% of its total staff and possibly shut down its offices in the United Kingdom and Japan. This is strange considering the fact that the venture's first target with its upcoming online gambling products will be the UK.