Wynn Takes Hard Look At Online Gambling Market With Zynga
Wynn Resorts (NASDAQ:WYNN) is in talks with Zynga (NASDAQ:ZNGA), the world’s largest social gaming developer, in order to create a strategic online partnership. [1] We believe partnering with Zynga would give Wynn Resorts access to Zynga’s wider customer base which is spread globally. Zynga presently has about 232 million average monthly active users across 166 countries. Its games are accessible on social networks like Facebook and mobile platforms globally. (See our note: Zynga CEO Confirms Interest in Online Gambling))
According to reports, at least 20 states are considering moves to legalize online gambling after the Justice Department reinterpreted that an old federal law only banned sports betting and not other forms of online gambling. [1] In the future, if online gambling gets legalized in the U.S., this partnership could provide an edge to Wynn Resorts in entering this new space.
This could also add a diverse revenue base for the casino operator and could help it in targeting prospective customers. In the past, several large casino companies including MGM Resorts International (NYSE:MGM) have pushed hard to legalize Internet gambling in the U.S. though have failed in these attempts. The recent developments do hint towards the possibility of online gambling finally attaining a legal approval.
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Notes:- See: Zynga and Wynn In Talks To Create Online Gambling Empire, The Inquisitr [↩] [↩]