Zynga backs out of real-money gambling, stock plummets – National Technology
But Mattrick knows the worst is not yet behind him. Even after taking on Microsoft’s Don Mattrick as a new CEO, the company reported a painful earnings report for the second quarter yesterday, according to SFGate.
Don Mattrick, president of Interactive Entertainment at Microsoft, attends the Allen Company Sun Valley Conference on July 6, 2011 in Sun Valley, Idaho. Though Zynga will still pursue RMG in the U.K., those investors have now dropped out, and it shows. The hope that the company could pull this off is what attracted several investors to the company. As the company begins to shift focus, Mattrick expects at least the next year will result in ‘volatile’ quarter results.. After hours yesterday the company’s stock plummeted 18 percent.
Were you looking forward to a company outside of Las Vegas trying to break into gambling or did the company truly have no business messing with a system they know nothing about?
According to Reuters, Mattrick’s game plan includes putting the emphasis back on “free-to-play games on Apple Inc’s iOS and Google Inc’s Android platform, as well as tried-and-true franchises like ‘FarmVille’.”
Despite the grim quarter, analysts actually predicted things would be worse for the company. It looks like Zynga’s future is taking a nosedive.
Mattrick, who is two weeks on the job, stated he will be taking the company ‘back to basics.’ It looks like ‘basics’ doesn’t include real-money gambling though. The company has been researching ways to being RMG to the United States, where it is presently illegal in several states
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